Fair Lending Policy and Procedures

Description

The Fair Lending Policy and Procedures outlines the fair lending laws and regulations that are designed to protect individuals seeking mortgage financing by ensuring they are treated fairly and equally throughout the entire loan process. This policy outlines the procedures that promote consistent, unbiased treatment of all applicants.

It emphasizes the importance of management and staff understanding fair lending requirements and the serious consequences of failing to provide equal opportunity. The policy also includes a complaint resolution process and ongoing monitoring to ensure compliance across all stages of the mortgage loan process. Additionally, it clearly identifies prohibited practices that violate fair lending standards.