A mortgage company owned by Warren Buffett’s Berkshire Hathaway discriminated against Black and Latino homebuyers by avoiding to write mortgages in minority-majority neighborhoods in the Philadelphia metropolitan area.
Trident Mortgage Company, a division of Berkshire HomeServices of America, agreed to resolve allegations that it engaged in a pattern or practice of lending discrimination by “redlining” in what the Justice Department said was its second largest redlining settlement and its first against a non-bank lender.occurs when banks or mortgage companies deliberately refuse to underwrite mortgages based on race and ethnicity.
At least $18.4 million will go toward a loan subsidy fund for residents of neighborhoods of color in the area, $750,000 to developing community partnerships to provide services that increase access to residential mortgage credit and $375,000 toward consumer financial education.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Buffett company discriminated against Black homebuyers in Philadelphia, NJ, Delaware: DOJOfficials are calling it the second-largest redlining settlement in history. As part of the agreement with the DOJ and the CFPB, Trident will have to set aside $20 million to make loans in underserved neighborhoods.
Les mer »
Berkshire Hathaway-Owned Mortgage Lender Settles Redlining AllegationsA mortgage company owned by Berkshire Hathaway will pay $24.4 million to resolve allegations of lending discrimination against minority residents of neighborhoods in the Philadelphia metropolitan area
Les mer »
Massachusetts becomes latest state to ban discrimination based on natural hairstylesMassachusetts has become the latest state to ban school officials and employers from discriminating against people based on their natural hair.
Les mer »
Biden administration proposes rule to strengthen LGBTQ, gender protectionsThe Department of Health and Human Services announced today a proposed rule to strengthen protections against sex discrimination and reiterates that people cannot be discriminated against for seeking reproductive health care.
Les mer »
National Realtors’ report: Texas a top destination for foreign homebuyersInternational buyers snapped up $59 billion of U.S. homes from April 2021 to March 2022,...
Les mer »
These are the top 7 US cities homebuyers are trying to leaveA new report from Redfin reveals more potential homebuyers are willing to relocate if that means finding more affordable homes.
Les mer »