The Business Letter Subprime Lending And Much More

The Business Letter Subprime Lending And Much More

Institutions should also review their prices structures to make sure that they cannot discriminate against individuals for a basis that is prohibited or in line with the located area of the home in breach of this Equal Credit chance Act (ECOA), the Fair Housing Act (FHA), or Massachusetts anti-discrimination and anti-redlining statutes, including G.L. C. 151B and c. 183, s. 64. The training of charging you overages (asking a greater rate of interest, origination cost, or amount of points on that loan for several borrowers than is charged for the exact same loan item to many other borrowers in identical time frame) is allowed unless the training violates the ECOA or FHA. [Read more…]