Remove 2015 Remove Legal Remove Loan Officers Remove Modernization
article thumbnail

Inside the government’s feeble fight to end redlining

Housing Wire

Senior administration officials claim that rooting out “modern-day redlining” is a top priority. Although half of Memphis’ census tracts are majority-minority, Trustmark did not assign a single mortgage loan officer to any of its branches in those areas, the federal government said. Who watches the watchmen?

Lending 370
article thumbnail

The fate of HUD

Housing Wire

As some independent mortgage banks have found out, a modern-day redlining allegation does not need to prove intentionality. Part of its effort to modernize its outdated technology systems, the FHA Catalyst program, hit a snag last year. Those borrowers would otherwise face steep loan-level price adjustments for conventional financing.

Insurance 370