Category Archives: paydayloans com

The Business Letter Subprime Lending And Much More

The Business Letter Subprime Lending And Much More

Organizations also needs to review their rates structures to ensure they cannot discriminate against people on a basis that is prohibited or in line with the precise location of the home in breach regarding the Equal Credit Opportunity Act (ECOA), the Fair Housing Act (FHA), or Massachusetts anti-discrimination and anti-redlining statutes, including G.L. C. 151B and c. 183, s. 64. The training of billing overages (recharging an increased rate of interest, origination cost, or quantity of points on that loan for several borrowers than is charged when it comes to loan that is same to many other borrowers in identical period of time) is allowed unless the training violates the ECOA or FHA. As an example if people of a protected course under ECOA and FHA (including race, gender, age, etc. ) are charged an overage more frequently than many other borrowers, the financial institution is in breach of ECOA and FHA unless the lending company could show the best nondiscriminatory company reason behind the disparate therapy. Continue reading The Business Letter Subprime Lending And Much More