Part 64: Discrimination in domestic home mortgages on foundation of location of property

Part 64: Discrimination in domestic home mortgages on foundation of location of property

General Laws

Area 64. No mortgagee shall discriminate, for a foundation this is certainly arbitrary or unsupported by an acceptable analysis associated with the lending risks linked with a domestic home loan transaction, into the granting, withholding, extending, changing or renewing, or in the fixing of this prices, terms, conditions or conditions of every domestic home loan or perhaps in just about any written application therefor on residential genuine home found in the commonwealth of four or less separate households occupied or even to be occupied in entire or in component because of the applicant, that is in the reasonable solution section of such mortgagee, in the basis such home is situated in a certain neighbor hood or geographic area; provided, nonetheless, so it shall never be a breach with this area if the domestic home loan is manufactured pursuant to a particular public or personal program, the objective of which will be to boost the option of home loans within a certain neighbor hood or area that is geographical. Nor shall any mortgagee usage financing or underwriting criteria, policies, systems or methods, that discriminate in practice or that discriminate in place, for a basis this is certainly arbitrary or unsupported by a fair analysis regarding the lending risks connected with a domestic home loan transaction.

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