Chase Settles Discrimination Issue; FHA Program Roiled by MIP Rumors

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Posted To: Pipeline Press

How has housing changed in the last 100 years? It’s easy to see when a “vertical flight” is put together, and Trulia posted current listings that were built in every decade that are pretty interesting to skim through and look at styles & pricing. Another day, another settlement . In this instance JPMorgan Chase has agreed to pay $55 million to settle an investigation into whether it charged thousands of African-American and Hispanic borrowers higher interest rates on mortgages than white customers. The discriminatory loans were originated from at least 2006 to late 2009. The mortgages were made by independent brokers and then funded by JPMorgan, and Chase was charged with violating the U.S. Fair Housing Act and the Equal Credit Opportunity Act JPMorgan released a statement…(read more)

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