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ARTICLE · 20 JUNE 2016

The Devil's In the Data: HUD Settles Complaint Arising From HMDA Data

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On June 8, 2016, the U.S. Department of Housing and Urban Development (HUD) announced a conciliation agreement with a bank, ...

United StatesFinance and Banking
Melanie Brody
Melanie Brody
Elyse Schoenfeld
Elyse Schoenfeld
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On June 8, 2016, the U.S. Department of Housing and Urban Development (HUD) announced a conciliation agreement with a bank, resolving allegations that the bank engaged in discrimination by denying the mortgage applications of African-American and Hispanic applicants at a disproportionally higher rate than white applicants.  The complaint, filed on December 23, 2011, resulted from a HUD review of the bank's 2010 Home Mortgage Disclosure Act (HMDA) data.  During its investigation, HUD analyzed mortgages that were first denied by an automated underwriting system (AUS), and then manually underwritten, and determined that white applicants received unjustified preferential treatment in the manual underwriting process in violation of the Fair Housing Act.

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