Though this additional information is usually included because it helps the government keep statistics that fight discrimination, understand that you are not required to supply the information if you don’t feel comfortable doing so. Additionally, they might ask you to volunteer certain information that might seem discriminatory (such as your race, ethnicity, age, sex, and marital status).
The water gets murky, especially because lenders have every right to ask you for (and evaluate) personal information, such as your income, credit history, and expenses. It can be difficult to discern whether a creditor is rejecting your mortgage, loan, or otherwise financial application based on illegal discrimination – or if it’s due to some weaknesses in your loan application. Denying a person a mortgage because the property is in a minority community.Charging higher rent or demanding a higher rental security deposit for a tenant based on their gender or gender identity.Refusing to consider a mortgage applicant’s disability-related income, such as SSI or SSDI.
#Ecoa prohibits discrimination based on skin
A bank officer providing a different level of assistance or customer service to a housing applicant based on their skin color. Some specific examples of lending discrimination include, but are not limited, to the following examples: Mortgage and lending discrimination come in many shapes and forms. It’s important for you to understand your federal protections and mortgage approval guidelines so that you’re best able to protect yourself from the potential of unfair lending practices. Though fair lending laws are designed to protect borrowers from mortgage discrimination, it still very much proves itself to be a barrier to rental security or homeownership, especially for many marginalized groups. Illegal lending discrimination takes place when a lender or any other financial representative or authority member makes decisions during any type of financial process (application, transaction, processing, etc.) based on a person’s race, color, creed, sex, religion, familial status, nationality, age, receipt of public assistance, or disability. This includes (but might not be limited to) mortgages, refinancing, home equity loans, and home improvement loans. Property terms (such as interest rates, fees, security deposits, and other costs)įederal law prohibits residential or real estate loan discrimination that relates to the purchasing, constructing, improving, repairing, or maintenance of a dwelling. Protections related to housing and financials include your right to fair and equal: to discriminate against someone based on religion, status, national origin, race, color, creed, disability, or sex (including gender, gender identity, sexual orientation, and sexual harassment) at any stage of the mortgage/financial process related to housing. 
The Fair Housing Act also makes it illegal for mortgage lenders, loan officers, financial partners, etc. Your rights and protections covered by the Fair Housing Act extend beyond just your right to equal housing opportunity, availability, and eligibility. Lending Discrimination makes it illegal for brokers, creditors, and agents to discriminate against individuals based on several factors.
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