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Big bank discriminates against pregnant women -- HUD

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Mortgage Professional America | 10 Oct 2014, 07:40 AM Agree 0
One of the nation's largest lenders will pay millions to settle allegations that it discriminates against pregnant women seeking home mortgages
  • | | 10 Oct 2014, 11:03 AM Agree 0
    One very good way to reduce the foreclosure rate is to allow only one income per household for mortgage qualification. Before 1977, when both incomes were considered on an application, the foreclosure rate was very low. The rate has increased annually from thereon even during periods of good economy simply because not all dual income situations continue due to divorce, layoffs, injuries, sabbaticals, etc. When a household has been reduced to a single income it becomes difficult to support mortgage payments geared for dual income.
    The new approach would be fair to the many unmarried or widowed applicants who have been competing with dual income households for housing.
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