FAIR LENDING: MITIGATING THE RISKS

FAIR LENDING: MITIGATING THE RISKS

Exceptions that deviate from standards or best practices created by a lender, such as pricing or credit scores, are not always a bad thing.  They can help to generate business for a mortgage lender by allowing consumers to be approved for a loan.  However, as much as exceptions can aid a consumer, they can also cause a nightmare for mortgage lenders by subjecting them to increased examination scrutiny, fair lending enforcement actions, or supervisory observations...