Bank of America Settles Antigay Discrimination Claim With HUD

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Bank of America to Pay $160,000 to settle maternity discrimination claim june 11, 2012 by Jeff Dillman On June 7, 2012, the U.S. Department of Housing and urban development (hud) announced that Bank of America agreed to pay up to $161,180 to settle allegations that one of the bank’s brances in San Jose, California, refused to refinance the.

If your loan is owned and serviced by Bank of America, you’ll receive a rate cap of 4% for your home loan, potentially saving you thousands of dollars. Even if your loan is owned by the U.S. Department of Housing and Urban Development (HUD), Fannie Mae, Freddie Mac or other private investors, you may still qualify for the 6% rate cap.

The group has filed a similar discrimination complaint against U.S. Bancorp (USB), which HUD is investigating. In June, Wells Fargo (WFC) became the first bank to settle a discrimination complaint pertaining to repossessed properties, paying $42.5 million to HUD with some of the money split among 14 private fair-housing groups.

The bank was not immediately available for comment. Fifth Third joined JPMorgan Chase & Co, Bank of America Corp, Citigroup Inc, Deutsche Bank AG and other lenders in resolving U.S. claims. million.

HUD reached the agreement with Bank of America to resolve a Fair Housing Act complaint that had been filed by the Fair Housing Council of Orange County (FHCOC). The Fair housing act prohibits housing discrimination in mortgage lending and real estate-related transactions based on a person’s race, color, national origin, religion, sex, family status and disability.

Credit Scores Can Impact Your Real Estate Financing  · If it’s a card you’ve had for a while, closing it can reduce your credit history, which is about 15% of your score. Second, if you have any debt, closing a card can increase your debt utilization or the ratio of debt to credit available. Keep in mind that you can always cut up the card and simply not use it.

The bank was not immediately available for comment. Fifth Third joined JPMorgan Chase & Co, Bank of America Corp, Citigroup Inc, Deutsche Bank AG and other lenders in resolving U.S. claims. million.

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The Bank of America has agreed to settle a claim brought by the Department of Housing and Urban Development (HUD) on behalf of a lesbian couple that was denied financing for a home mortgage. Last.

The Obama administration has used this approach to build discriminatory lending cases in the past, and HUD’s new rules. to wrongdoing in the settlement and said it was settling simply to avoid.