Fair Lending is the unbiased treatment of all customers when making credit-related decisions. Fair Lending laws ensure that financial institutions provide fair and uniform services and credit decisions. The fair treatment of our current and potential customers is an integral part of our overall commitment to maintaining the highest standards of corporate responsibility. This extends to every aspect of a credit transaction, including not only how we review credit requests, but also our advertising, handling of pre-application inquiries, loan disbursements, and ongoing servicing of the loan.
equity unlimited is committed to treating all individuals fairly and equitably in the conduct of its lending businesses in all jurisdictions where it conducts business. This commitment is part of our fundamental mission of providing quality financial services to existing and prospective customers in accordance with all applicable laws. In the United States, this principle is embodied in fair lending laws such as the Equal Credit Opportunity Act, the Fair Housing Act as well as other factors included in state and local laws. These laws require the equitable treatment of all credit applicants without regard to race, sex (including gender), sexual orientation, color, national origin, religion, age, marital status, disability, familial status, the fact that all or part of the applicant’s income derives from public assistance programs or to the fact that the applicant has in good faith exercised any right under the Consumer Credit Protection Act. Denying any person equal access to basic economic opportunities, such as home ownership or credit, is morally repugnant, has no place in our company, and will not be tolerated. Only through the efforts of all of us at equity unlimited can we ensure that every applicant for credit receives fair and equitable treatment and that we have helped each member of the communities equity unlimited serves reach his or her fullest potential.
This law affects every phase of the lending process and prohibits discrimination on the basis of:
ECOA prohibits making credit decisions or discouraging applicants, based on any of the factors listed above.
FHA prohibits discrimination in the sale, rental, and financing of property based on:
This law prohibits discrimination against qualified individuals with disabilities, ensuring that they have equal access to goods and services offered by private businesses.
This law guarantees equal rights to purchase real estate and personal property to all people, regardless of race.
This law requires financial institutions to report information about the home loans they originate or purchase, as well as applications that don’t result in loans (e.g., an application that’s ultimately denied). They must report this information quarterly and annually to allow the public and federal regulators to determine the institution’s responsiveness to the community's needs. The type of information they must report includes, but is not limited to:
Various agencies have the authority to evaluate and/or enforce firm's compliance with fair lending requirements:
EQUITY UNLIMITED
6709 11th Avenue | Brooklyn, NY 11219
tel: 877-808-6868 | fax: 888-888-3526
Revised Date: April 30th 2022
See us in action.
Our methods work!