loanDepot settles appraisal bias lawsuitÂ
Housing Wire
MARCH 26, 2024
California-based loanDepot will pay an undisclosed amount and commit to improving its mortgage appraisal practices. Instead of Connolly and Mott greeting the appraiser, a white colleague was present during the process. The home was appraised for $750,000, almost 60% higher than the initial appraisal performed.
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