HUD DELIVERS TRIPLETS

During 2011 HUD settle cases with two lenders involving familial status discrimination. In both cases women on paid maternity leave were told to wait until they returned to their full-time positions credit could be approved. The first case, in August 2011, cost the lender more than $750,000. The first victim received $15,000, later victims were to $7,500 each. In the November case the victim received $12,000. The lender was required tocreate a fund to compensate additional victims.

In a blog article following the second case I stated, “This action coupled with a recent case involving a Houston-based lender (see previous blog article) puts the spotlight on the issue of familial status discrimination. One case is an aberration, two cases is the start of a trend, more cases may justify panic.”

Now we have another case. In early June, 2012, HUD settled another maternity case. This case, which involves Bank of America (BOA), has basically the same facts as the previous cases. The victim received $30,000 and BOA established a fund to compensate other victims.

This issue apparently isn’t going to disappear any time soon. Make sure your lenders are familiar with the issues.

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