CFPB Takes Action Against Draper & Kramer Mortgage for Discriminatory Mortgage Lending Practices
Summary
- Draper & Kramer Mortgage Corporation was penalized by the CFPB for discriminatory mortgage lending practices.
- The actions targeted discouragement of homebuyers from applying in majority-Black and Hispanic neighborhoods in Chicago and Boston.
Why It Matters for Texas Credit Unions
The case highlights potential issues that Texas credit unions should be aware of, especially concerning fair lending practices in diverse communities.
Original Source Material
The CFPB took action against Draper & Kramer Mortgage Corporation for discriminatory mortgage lending activities that discouraged homebuyers from applying to Draper for homes in majority-Black and Hispanic neighborhoods in the greater Chicago and Boston areas.