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Area 64: Discrimination in residential home mortgages on foundation of location of home

General Laws

Area 64. No mortgagee shall discriminate, on a foundation that is arbitrary or unsupported by a fair analysis associated with the lending risks associated with a domestic home loan deal, into the granting, withholding, extending, changing or renewing, or within the fixing of this prices, terms, conditions or conditions of any domestic home loan or perhaps in every written application therefor on residential genuine home found in the commonwealth of four or less separate households occupied or even to be occupied in entire or in component by the applicant, this is certainly in the reasonable solution section of such mortgagee, regarding the foundation such property is found in a certain neighbor hood or geographic area; supplied, nevertheless, so it shall not be a breach of the part in the event that domestic real estate loan is manufactured pursuant to a particular public or personal system, the goal of that will be to improve the option of home loans within a certain community or area that is geographical. Nor shall any mortgagee usage lending or underwriting criteria, policies, systems or methods, that discriminate in practice or that discriminate in place, on a foundation that is arbitrary or unsupported by a fair analysis associated with the lending risks associated with a mortgage transaction that is residential. The sentence that is preceding maybe not preclude a mortgagee from:

(a) needing reasonable and uniformly used application costs,

(b) using income criteria that are reasonable pertaining to the total amount of the mortgage required and which will probably be disclosed every single potential applicant, or

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