Fair Lending
Fair Lending and Equal Credit Opportunity
Under The Housing Financial Discrimination Act of 1977, it is illegal to discriminate in the provisions of or in the availability of financial assistance because of the consideration of:
These provisions govern financial assistance for the purpose of the purchase, construction, rehabilitation or refinancing of a one-to-four unit family residence occupied by the owner and for the purpose of the home improvement of any one-to-four unit family residence.
Furthermore,
The Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (provided the applicant has the capacity to enter into a binding contract); because all or part of the applicant's income derives form any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The Federal Agency that administers compliance with the law concerning this company is the Federal Trade Commission, Pennsylvania and 6th Street N.W., Washington, DC 20580.
United Southwest Mortgage Corporation, Inc, dba All Reverse Mortgage Company is an Equal Opportunity Lender and all Brokers submitting loans to ARMC must also adhere to these laws.
Under The Housing Financial Discrimination Act of 1977, it is illegal to discriminate in the provisions of or in the availability of financial assistance because of the consideration of:
- Trends, characteristics or conditions in the neighborhood or geographic area surrounding a housing accommodation, unless the financial institution can demonstrate in the particular case that such consideration is required to avoid an unsafe and unsound business practice; or
- Race, color, religion, sex, marital status, national origin or ancestry.
These provisions govern financial assistance for the purpose of the purchase, construction, rehabilitation or refinancing of a one-to-four unit family residence occupied by the owner and for the purpose of the home improvement of any one-to-four unit family residence.
Furthermore,
The Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (provided the applicant has the capacity to enter into a binding contract); because all or part of the applicant's income derives form any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The Federal Agency that administers compliance with the law concerning this company is the Federal Trade Commission, Pennsylvania and 6th Street N.W., Washington, DC 20580.
United Southwest Mortgage Corporation, Inc, dba All Reverse Mortgage Company is an Equal Opportunity Lender and all Brokers submitting loans to ARMC must also adhere to these laws.
