UNDERSTANDING RACISM IN THE 21st CENTURY
Posted on 12/11/2023 7:05:48 AM PST by Tell It Right
You are correct in your interpretation. The CFSB is a perversion of the government.
I have no tolerance for Big Government or Big Business. The stupidity that big banks engage in could be avoided if the federal government encouraged COMPETITION in the industry.
Bingo.
btt
—”Do they really discriminate illegally? “
How does anyone know the race, gender, XYZ... about the loan applicants?
There is NO legal way they can know the race of loan applicants.
When big gov went after auto loans, they reviewed the name and assigned a possibility of being a recognized minority.
UNDERSTANDING RACISM IN THE 21st CENTURY
It's not a perfect correlation, but I'm pretty sure they use zip code.
It sounds like mortgage brokers/lenders out in the field have the ability to request an exception if they think they are going to lose a deal to another lender and they think the deal is worth fighting for. It sounds as if each one is a one off so it does open the possibility that it is discriminatory or just as likely it could be the deals the brokers were fighting for were more lucrative and in general, women and minority borrowers qualify for less based on income and credit score so the deals are not worth really fighting for.
“It’s because they’re the only ones that’d do a QIT account that’s needed for the nursing home.”
If that is the case then if I were you I would watch the account very closely. If not, they will definitely try to steal from you with some unmentioned rule or clause which allows them to steal. They are as crooked as the day is long.
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