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Another lender settles redlining accusations with DOJ

Housing Wire

The complaint filed in federal court on Wednesday alleges that from at least 2015 to 2021, Lakeland failed to provide mortgage lending services to Black and Hispanic neighborhoods in Newark. The largest settlement recorded , at $25 million, was with New Jersey-based Hudson City Savings Bank in 2015.).

Law 372
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Park National Bank to pay $9M to settle redlining allegations

Housing Wire

District Court for the Southern District of Ohio last month, alleged that Park National failed to provide mortgage lending services by redlining majority-Black and Hispanic neighborhoods in the Columbus area from at least 2015 to 2021. Under the proposed consent order, Park National agreed to invest at least $7.75

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FHA Commissioner Julia Gordon gets to work

Housing Wire

During her visits, one thing stood out to Golding, who served as the Department of Housing and Urban Development ’s principal deputy assistant secretary from 2015 to 2017. Gordon also said that the FHA could provide expanded access to the program for nonprofit affordable-housing and community development groups.

Insurance 312
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Rise above the panic, for the housing market’s sake

Housing Wire

Research from Glossy and Modern Retail coined the “Great Mall Overhaul ” and made the call for a pivot, the evolution from transactional to experiential. An opportunity for commercial real estate investors and developers? What does this sound like to you? I think so too. Let’s take a look at office space.

Retail 335
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Opinion: A unified approach for reducing appraisal bias

Housing Wire

Likewise, a 2021 Freddie Mac study of more than 12 million appraisals dating back to 2015 found that appraisers’ opinions of value were more likely to fall below the contract price in Black and Latino census tracts. Some researchers point to appraisal methodology as a culprit. The scope of the challenge should not discourage us.

Appraisal 339
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The fate of HUD

Housing Wire

Few things terrify lenders more than the arrival of a manila envelope from the Department of Housing and Urban Development ( HUD ) containing a redlining allegation. As some independent mortgage banks have found out, a modern-day redlining allegation does not need to prove intentionality. ” Building blocks, stumbling blocks.

Insurance 334
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How to Become a Supervisory Appraiser

McKissock

Whatever the reason, supervisors play an essential role in the training and development of future appraisers. For example, you might want to hire a tech-savvy trainee who can help you modernize your process, or a trainee with marketing experience who can help bring in more clients. property inspections), or prepare for retirement.