FHFA identifies “thousands” of potential appraisal bias cases

Following a lengthy investigation, the Federal Housing Finance Agency says it has identified thousands of cases of “potential bias” in neighborhood descriptions written by appraisers and used in their home valuation process. “From millions of appraisals submitted annually, a keyword search resulted in thousands of potential race-related flags,” wrote Chandra Broadnax, senior examination specialist, and

Read More »

HUD Approves Settlement of Fair Housing Complaint Against OneWest Bank

On July 29, 2019, the U.S. Department of Housing and Urban Development (HUD) announced that it has approved a conciliation agreement settling a Fair Housing complaint against CIT Bank, N.A., dba OneWest Bank (CIT). California Reinvestment Coalition (CRC) had accused CIT of violating the Fair Housing Act (FHA) in its positioning branch location, marketing, and mortgage

Read More »

Housing Society Faces $110,000 bill for Discriminatory Policies

A housing society based in Seattle today agreed to pay a settlement of $110,000 in order to avoid a U.S. Justice Department lawsuit which alleged that the society carried out a racially discriminatory policy towards African Americans and Indians looking to rent apartments with them.

RealtyBizNews: Real Estate Marketing & Beyond