GFI Mortgage Bankers Inc., a firm concentrating on New York, New Jersey and Florida, agreed to pay $3.56 million to resolve a lawsuit in which it was accused of discriminating against black and Hispanic borrowers.
The New York-based company admitted to charging higher interest rates and fees to black and Hispanic borrowers than for similarly qualified white borrowers from 2005 to 2009, the U.S. Attorney’s Office in Manhattan said Tuesday. The firm also agreed to reform its practices, the government said.
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