Mortgage trade teams made their voices heard in response towards the Division of Housing and City Growth's proposed reinstatement of its 2022 disparate influence rule.
Quite a few trade stakeholders requested HUD to create some alterations in the regulation to lift and extra clarify the edge for disparate influence claims. A householders insurer commerce group, which has mounted profitable authorized challenges from the usual prior to now, mentioned it sees no motive the rule ought to affect its trade.
The argument for that upper threshold for claims arose following a 2022 Top court docket resolution which upheld the disparate influence regulation. The 5-4 resolution mentioned that disparate influence claims are included inside the Honest Housing Act, but it surely extra particularly outlined the three-step span of to show a strong hyperlink between a enterprise apply and discrimination.
However the mortgage trade and HUD don't see eye-to-eye how that call must be taken into consideration.
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The publish The housing trade’s disparate influence hopes appeared first on HousingWire.