Can He Do This?

He's not... and if you could prove it, you might have a case... Most borrowers don't like the word "No".. (ever since Obama took office)... a lot of people feel they are owed something and deserve to finance that $300K home, even though they paid their $500 Secured credit card payment on time for the last 6 months.. And the Foreclosure wasnt their fault, it was the Spouse!! I'm sure there's a lot more to the story then race... contact a few more Brokers like Mike and see what they say... if you keep getting the same results, it's probably not the lender... you have a mirror by chance??

Wow. that last answer may have been close to reality but that makes large assumptions and is pretty harsh. The first sentence is the best. It could be a long hard painful road and the first step in my opinion is to get approved by someone else which will show that the other guy is either not very good or in fact discriminates. brokers in CA are licensed by the Department of Real estate and the NMLS National Mortgage Licensing System at http://mortgage.nationwidelicensingsystem.org I am in CA at (866) 385-1650 or www.AskTheLoanMan.com

For years, I have said lending is a process of discrimination. Lenders discriminate against those people that they deem less likely to pay them back, or pay on time. It's true, but discrimination based on race is illegal. Proving it isn't always easy, but if you truly believe you were discriminated against, by race or any of the other prohibited reasons, then the first step would be to file a complaint. The Federal Trade Commission is the Federal Agency that administers compliance with the Equal Credit Opportunity Act. There are also state agencies that would pursue a complaint, including the State Agency that issued his/her license to originate mortgages. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com

If you truly believe you've been discriminated based on race, you can contact the following government agencies providing enforcement for the following two laws:EQUAL CREDIT OPPORTUNITY ACTThe Federal Equal Credit Act prohibits creditors from discriminating against credit applications on the basisof race, color, religion, national origin, sex, marital status, age (provided the applicant has the capacity toenter into a binding contract); because all or part of the applicants income derives from any public assistanceprogram; or because the applicant has in good faith exercised any right under the consumer credit protectionact. The following Federal agency administers compliance with this law Federal Trade Commission Consumer Response CenterWashington, DC 20580 1-877-FTC-HELP (1-877-382-4357);TDD: 1-866-653-4261www.ftc.govThe Fair Housing Financial Discrimination Act of 1997It is illegal to discriminate in the provision of or in the availability of financial assistance because of theconsideration of:1. Trends, characteristics or conditions in the neighborhood or geographic area surrounding ahousing accommodation, unless the financial institution can demonstrate in the particular casethat such consideration is required to avoid an unsafe and unsound business practice: or2. Race, color, religion, sex, marital status, national origin or ancestry.It is illegal to consider the racial, ethnic, religious or national origin composition of a neighborhood orgeographic area surrounding a housing accommodation or whether or not such composition is undergoingchange, or is expected to undergo change, in appraising a housing accommodation or in determiningwhether or not, or under what terms and conditions, to provide financial assistance.These provisions govern financial assistance for the purpose of the purchase, construction, rehabilitation orrefinancing of one-to four-unit family residences occupied by the owner and for the purpose of the homeimprovement of any one-to four-unit family residence.If you have any questions about your rights, or if you wish to file a complaint, contact the Department of Real Estate at the following location:2550 Mariposa Mall, Suite 3070Fresno, CA 93721(559) 445-5009