Skip to comments.Mortgage Company To Pay $2.1 Billion In HUD Discrimination Settlement (ANDREW CUOMO)
Posted on 10/16/2010 3:14:51 AM PDT by Mr. K
WASHINGTON (AllPolitics, April 3) -- Accubanc Mortgage Corporation of Dallas,Texas, has agreed to a pay $2.148 billion in a settlement with the Department of Housing and Urban Development for discrimination in loan practices. HUD Secretary Andrew Cuomo announced the largest settlement ever in an unfair housing dispute.
Accubanc will make the money available through mortgage loans and program development to increase home ownership over the next three years. The loans will allow 15,700 low- and moderate-income families and minority families to obtain home mortgages that were previously denied. Accubanc is expected to take a loss on the loans, although the dollar figure was not immediately available.
The Fort Worth Human Relations Commission and the City of Dallas filed two discrimination complaints in November 1997 based on tests conducted by the Fort Worth Commission under a HUD grant. The complaints alleged discrimination based on race and national origin in Accubane's lending practices.
(Excerpt) Read more at cnn.com ...
Andrew Cuomo proudly announces a $2.1 BILLION dollar "discrimination" suit, where as head of HUD they sued a bank for "discriminating" against people who could not afford loans.
At the time this was the biggest damages award ever and othe banks saw the writing on the wall.
They HAD TO make loans, and then when Fannie and Freddie offered to GUARANTEE those loans, all hell broke loose. 10 years later the bubble burst to the tune of trillions of dollars.
THIS ARTICLE IS FROM 1998! SEE IT BEFORE IT IS PULLED
VIDEO here: ANDREW CUOMO
Discriminators. Every single one of thse ########. The Dollar is so easy to deny.
I’ve got a bridge to sell ya. :)
why can’t $15k a year family buy the same house as $100K family?
we are all Americans here ... money doesn’t matter
personally I would like to have my own 727 converted to private and be flown all around the country on my whim
Is that you, Mrs. Pelosi?
That’s Madam Speaker to you sir !!
Peons do not comprehend the nuances of sarcasm. ;)
This campaign should be so much more about Cuomo and the different philosophy needed to right the State of NY than about Paladino and his un-PC-ness.
I’d love to see the bad rate on that population.
Thanks Mr. K.
Please contact me if youre interested in being added on or taken off the Carl Paladino for Governor ping list. This looks to be a fairly high volume ping list for a while, probably until the election.