THE
HOUSING FINANCIAL DISCRIMINATION ACT OF 1977 - FAIR LENDING NOTICE
It is illegal to
discriminate in the provisions of or in the availability of financial
assistance because of the consideration of:
1. Trends, characteristics
or conditions in the neighborhood or geographic area surrounding
a housing accommodation, unless the financial institution can
demonstrate in the particular case that such consideration is
required to avoid an unsafe and unsound business practice; or
2. 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 or geographic area surrounding a housing accommodation
or whether or not such composition is undergoing change, or is
expected to undergo change, in appraising a housing accommodation
or in determining whether 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 or refinancing of a one-to-four unit family residence
occupied by the owner and for the purpose of the home improvement
of any one-to-four family residence.
