4 ms·
They probably have to report on loan approval rates by race to demonstrate a lack of bias in their underwriting.
by harryh 7y ago
They probably have to report on loan approval rates by race to demonstrate a lack of bias in their underwriting.
- nulbyte 7y agoYes. For example, mortgage lenders in the US are required to obtain and report this.[1] If applying in person the applicant chooses not to furnish the information, the lender is required to guess based on observation. [1]: http://mortgageporter.com/2010/12/your-ethnicity-and-race-on-the-loan-application.html http://mortgageporter.com/2010/12/your-ethnicity-and-race-on...