Navy Federal Responds To Allegations Of Discrimination

Navy Federal Responds To Allegations Of Discrimination

ByTMN Editor Reading Time: 2 minutes

Navy Federal Credit Union responded aggressively to allegations that it discriminated against minority mortgage borrowers, rejecting more than half of Black applicants in 2022. An investigative report from CNN and a class-action lawsuit allege that the credit union, which lends to military service members and veterans, had the biggest gap in approval rates between white…

Mortgage Applicants Denied For Insufficient Income At Increasing Rates

Mortgage Applicants Denied For Insufficient Income At Increasing Rates

ByTMN Editor Reading Time: 2 minutes

As affordability sank in 2022, potential buyers struggled against rising fees and were denied loans for a lack of income, according to a new analysis from the Consumer Financial Protection Bureau. Mortgage applications and originations declined last year as the market corrected from the low-rate-fueled pandemic housing boom. At the same time, affordability sunk to…

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