OfflineHUD Investigating for Gender Discrimination
Since 2010, the Department of Housing and Urban Development has been investigating complaints against lenders who allegedly denied mortgages to families because the wife was pregnant or on maternity leave. The practice violates provisions in the Fair Housing Act, as lenders are not allowed to single out pregnant women because the lender assumes they may not have a job to return to or may choose not to return to work after the birth of their child.
Since this investigation began, several lenders, including Cornerstone Mortgage and Bank of America, have settled with the government to make payments based on this type of discrimination.
January Pending Home Sales Up a Lot
In January, pending home sales contracts rose from December to the highest level in more than 2.5 years. The National Association of Realtors publishes an index of pending home sales and reports that the index rose 4.5 percent in January to 105.9. That’s the highest level for the index since April 2010.
I wonder where this so-called 'payments' money is going to? The people who were denied a loan probably never got to buy a home, but who knows... maybe they have been able to get a loan now, and are included with the homeowners responsible for helping increase the level of home sales??
thanks for sharing!
Valerie
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