Same-sex couples paid higher interest rates and closing fees on home loans, a new analysis found.
The Consumer Finance Protection Bureau (CFPB) included a number of new datapoints in the 2018 release of the Home Mortgage Disclosure Act Data (HMDA), which came out in September 2019.
While overall banks fell short of non-banks in lending to minority applicants or in LMI neighborhoods, the banks in the top 25 performed about as well as the top non-bank lenders. But even among the top banks, lending to LMI borrowers fell far behind the top non-banks.
Community banks and consumer advocates are clashing over a provision in the Senate banking bill on mortgage data reporting, but there’s been little vetting of what the measure would actually do.
In a final indignity, Sen. Tim Kaine, D-Va., has offered a fair lending amendment, while acknowledging that the amendment probably wouldn’t get a vote
Aaron Klein looks at what is to like and not like in a bipartisan bill to amend Dodd-Frank.