US Mortgage Lenders LLC Fair Lending Policy = Treat All Borrowers Equally
- US Mortgage Lenders LLC is committed to serving all borrowers equally, without regard to an individual’s race, color, national origin, religion, sex, familial status or handicap. As such, it is US Mortgage Lenders LLC to issue all conditional Pre Approvals and Approvals (to purchase or refinance a residential mortgage loan) without regard to a borrower’s race, color, national origin, religion, sex, familial status, or handicap.
The Goal Of Fair Lending
- With the goal of Fair Lending in mind, it is also our policy to promote Fair Lending practices to our entire customer base. Though US Mortgage Lenders LLC does not dictate how our wholesale lenders price a loan or charge fees to a borrower, we must emphasize the critical nature of supporting sound Fair Lending practices.
Zero Bias On Originating Loan
- US Mortgage Lenders LLC has fair lending procedures that provide controls to determine and guard against originating loans that are in any way biased based on a borrower’s race, color, national origin, religion, sex, familial status, or handicap.
Zero Bias On Rate And Fees
- Bias is not restricted to merely whether or not a borrower receives a loan. Bias may also be demonstrated by analyzing rates and fees charged to borrowers of a specific group. In an effort to ensure that our wholesale customer base is compliant with the Fair Housing Act, US Mortgage Lenders LLC performs regular post-closing reviews to determine if any borrower treatment or pricing disparity exists for borrowers in a specific group (as outlined by the Fair Housing Act).
Do Not Focus On A Lender’s Intent
- We would also like to emphasize that Fair lending laws do not focus on a lender’s “intent.” We believe that all wholesale customers “intend” to provide borrowers with loans. Rather than focus on intent, compliance with the Fair Housing Act requires our wholesale customer base to look at their loans and analyze whether all borrower groups are priced/charged and treated equitably.
Fair Lending For All Borrowers
- The best way to protect your business is to adopt sound and comprehensive fair lending procedures. By doing so, we work together toward our common goal of Fair Lending for all borrowers.