MIAMI AP – A new unit of the Justice Department is investigating the lending practices of banks and mortgage brokers suspected of discriminating against minority borrowers.
The new Fair Lending unit is going after lenders and brokers that have unfairly denied minorities access to home loans. It’s also looking to identify companies that targeted minorities for mortgages with loose underwriting standards or high interest rates that forced them into foreclosure, said Thomas Perez, the Justice Department’s assistant attorney general for civil rights.
