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JPMorgan officially settles discrimination suit

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Mortgage Professional America | 24 Jan 2017, 01:26 PM Agree 0
JPMorgan has officially settled allegations that it charged higher interest rates to minority borrowers
  • gh | | 24 Jan 2017, 05:32 PM Agree 0
    Working wholesale in the mid 90s, my experience was that in many instances, African Americans went to African American brokers and many Hispanics went to Hispanic brokers. (I admit this is based on my experience only.)

    I'm only saying this because I'm tired of seeing this as some type of 'blanket' practice employed by brokers across the country. It's not always about race. In their defense, many of the mortgages they dealt with were much smaller than the average mortgages of other communities but still required the same or even more work in some instances. (Due to credit, multiple borrowers, documentation, etc)

    In instances like these, I believe the 'press' fails to disclose the entire story which in turn tends to shed a negative light on brokers in general.
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