Why Redlining Risk Should Continue to Be a Focus During the Next Administration In the lead-up to the change in administration, the CFPB and DOJ have settled redlining claims against non-depository mortgage companies. On January 17, 2025, the CFPB settled redlining claims against a non-depository mortgage company, Draper & Kramer Mortgage Corporation, based on activity from 2019 to 2021 in the Chicago-Naperville-Elgin and Boston-Cambridge-Newton metropolitan statistical areas (Chicago and Boston MSAs, respectively). The CFPB's settlement includes a $1.5 million civil money penalty and a prohibition against the company from engaging in any residential mortgage lending activities for five years. The week prior, on January 7, 2025, the Department of Justice (DOJ)…
Schedule a free online demonstration to discover what Comply HMDA/CRA can do for your institution.
Schedule Your Free Demo Have Questions? Contact Us
