Fairway Independent Mortgage Corp. has reached a settlement with the CFPB and the DOJ regarding accusations of discriminatory mortgage lending practices in predominantly Black neighborhoods in the Birmingham, Alabama metropolitan region. The company has agreed to take remedial actions to address the concerns raised by the regulators.
Key points from the settlement include:
– Fairway Independent Mortgage Corp. has agreed to settle with the CFPB and DOJ over allegations of mortgage lending discrimination in majority-Black neighborhoods in Birmingham, Alabama
– The settlement requires the company to implement remedial measures to address the concerns raised by the regulators
– Fairway Independent Mortgage Corp. will need to ensure fair lending practices and compliance with anti-discrimination laws in its mortgage lending operations in the future
You can read this full article at: https://www.housingwire.com/articles/fairway-accused-of-redlining-in-alabama-agrees-to-settle/(subscription required)
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