Finance & Banking, Residential Real Estate, Civil Rights

American Bankers Association Real Estate Lending Conference - Qualified Mortgages: A Sea Change For Mortgage Lenders

by Robert H. Ledig, Thomas P. Vartanian | Dechert LLP on 4/16/2013

In This Presentation: - The Qualified Mortgage (QM) Rule - Small Creditor QM Proposal - The Ability-to-Repay (ATR) Rule: What It Says and What It Means - Liability for Failure to Comply with the ATR and QM...more

Housing Counselor Survey Alleges Banks Fail To Comply With National Mortgage Settlement.

by BuckleySandler LLP on 4/8/2013

On April 3, a California borrower advocacy organization published the results of its survey of housing counselors, which the organization claims reveals that problems persist with the implementation of the national servicing...more

New Study Claims Mortgage Lenders Discriminate Against Women

by BuckleySandler LLP on 3/22/2013

On March 12, the Chicago-based Woodstock Institute released research claiming that mortgage lenders discriminate against female applicants. The research is presented in a “fact sheet” and previews a longer report the group...more

HUD Final Rule on Disparate Impact under the Fair Housing Act

by Melanie Brody, Andrew C. Glass, Paul Hancock, Tori K. Shinohara | K&L Gates LLP on 3/13/2013

On February 8, 2013, the Department of Housing and Urban Development (“HUD” or the “Department”) finalized its controversial discriminatory effects rule (the “final rule” or “discriminatory effects rule”), thus formalizing...more

Raising the Bar: HUD Issues New Rule Imposing More Demanding Standard for Defending Against Discrimination Claims Under the Fair...

by Bryan Merryman, Owen Pell, Gregory Starner, Duane D. Wall | White & Case LLP on 3/7/2013

The Department of Housing and Urban Development (HUD) recently issued a new rule to formalize a national standard for determining whether a housing practice violates the Fair Housing Act (FHA) as the result of a...more

PNC Settles Maternity Leave Mortgage Suit

by Michele Bowman | Lawyers.com on 2/19/2013

PNC settled a lawsuit this month over its refusal of a mortgage loan to a Connecticut couple because the wife was on maternity leave. As part of the settlement, the bank must review the last two years’ worth of mortgage...more

U.S. Department of Housing and Urban Development Issues Final Rule Affirming Use of Disparate Impact to Establish Liability for...

by Patrick D. Dolan, Robert H. Ledig, Ralph R. Mazzeo, Thomas P. Vartanian | Dechert LLP on 2/15/2013

The U.S. Department of Housing and Urban Development (“HUD”) issued a final rule (“Rule”) on February 8, 2013, which provides additional support to potential government and private plaintiffs seeking to challenge “facially...more

CFPB’s ECOA disparate impact test finds support in HUD’s FHA “Discriminatory Effects” final rule

by Barbara S. Mishkin | Ballard Spahr LLP on 2/14/2013

In April 2102, the CFPB issued a bulletin to confirm that it plans to apply a disparate impact test in exercising its supervisory and enforcement authority under the Equal Credit Opportunity Act (ECOA) and Regulation B. The...more

Settlement of Michigan Lending Discrimination Lawsuit Underscores Regulatory Focus on Equal Access to Credit

by Richard J. Andreano, Jr., John L. Culhane, Jr., Stefanie Jackman, Alan S. Kaplinsky, Christopher J. Willis | Ballard Spahr LLP on 1/28/2013

The U.S. Department of Justice (DOJ) has reached a settlement with Community Bank of St. Charles, Michigan, in a federal lending discrimination lawsuit filed by DOJ against the bank....more

DOJ Announces Redlining Enforcement Action Against Community Bank

by BuckleySandler LLP on 1/23/2013

On January 15, the Department of Justice (DOJ) announced that it reached a settlement with a Michigan community bank regarding alleged redlining practices. In its complaint, the DOJ charged that between 2006 and 2009, the...more

HUD Obtains First Settlement Under Rule Requiring Sexual Orientation And Gender Identity Equal Access

by BuckleySandler LLP on 1/14/2013

On January 2, HUD announced that a lender agreed to settle a claim that it refused to provide FHA financing to a lesbian couple. HUD noted that the agreement is the first enforcement action taken under a rule finalized in...more

Can ‘Disparate Impact’ Become the Basis for a Fair-Lending Claim?

by Jeff Ifrah on 1/2/2013

As part of its aggressive program to protect consumers in financial matters, the Consumer Protection Financial Bureau (CFPB) has announced that it is prepared to adopt a controversial “disparate impact” theory of liability...more

CFPB: Mortgage Originator Violations

by Jonathan Foxx on 11/7/2012

Yesterday, I outlined for you the features of the CFPB's requisites of a Compliance Management System (CMS). My observations were based on the CFPB's newsletter, entitled Supervisory Highlights: Fall 2012, an issuance to the...more

Legislators Accuse Assistant AG of Inappropriate Interference in Disparate Impact Case

by BuckleySandler LLP on 10/1/2012

On September 24, Representatives Lamar Smith (R-TX), Patrick McHenry (R-NC), and Darrell Issa (R-CA), along with Senator Charles Grassley (R-IA), sent a letter to U.S. Attorney General Eric Holder alleging that Assistant...more

Damned if You Do, Damned if You Don't: Origination of "Qualified" Residential Mortgages May Trigger Disparate Impact Fair Lending...

by Dechert LLP on 9/28/2012

Federal fair lending laws prohibit discrimination in credit transactions. The Equal Credit Opportunity Act (“ECOA”) and the Fair Housing Act prohibit discrimination in mortgage lending on the basis of certain factors...more

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Finance & Banking › Residential Real Estate › Civil Rights

American Bankers Association Real Estate Lending Conference - Qualified Mortgages: A Sea Change For Mortgage Lenders

Housing Counselor Survey Alleges Banks Fail To Comply With National Mortgage Settlement.

New Study Claims Mortgage Lenders Discriminate Against Women

HUD Final Rule on Disparate Impact under the Fair Housing Act

Raising the Bar: HUD Issues New Rule Imposing More Demanding Standard for Defending Against Discrimination Claims Under the Fair...

PNC Settles Maternity Leave Mortgage Suit

U.S. Department of Housing and Urban Development Issues Final Rule Affirming Use of Disparate Impact to Establish Liability for...

CFPB’s ECOA disparate impact test finds support in HUD’s FHA “Discriminatory Effects” final rule

Settlement of Michigan Lending Discrimination Lawsuit Underscores Regulatory Focus on Equal Access to Credit

DOJ Announces Redlining Enforcement Action Against Community Bank

HUD Obtains First Settlement Under Rule Requiring Sexual Orientation And Gender Identity Equal Access

Can ‘Disparate Impact’ Become the Basis for a Fair-Lending Claim?

CFPB: Mortgage Originator Violations

Legislators Accuse Assistant AG of Inappropriate Interference in Disparate Impact Case

Damned if You Do, Damned if You Don't: Origination of "Qualified" Residential Mortgages May Trigger Disparate Impact Fair Lending...

Massachusetts Federal Court Reverses Prior Certification of Class in Fair Lending Case

FFIEC Releases 2011 HMDA Data

U.S. Department of Justice Turns Spotlight on Disparate Impact Discrimination Claims

DOJ Settles Fair Housing Disparate Impact Suit

Fannie Mae Issues Multiple Servicing Announcements

DOJ Finalizes Settlement Over Bank’s Mortgage Lending Practices

Mortgage Insurer Settles DOJ Discrimination Suit

Fair Housing Groups File First REO Complaint

K&L Gates Files Federal Pro Bono Action to Challenge Foreclosure Rescue Scheme

Massachusetts Enacts Law Prohibiting Discrimination Against Transgendered Individuals

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