First Fifth Bank has a mortgage lending program that discounts ...

[Mr. Wonderful]

First Fifth Bank has a mortgage lending program that discounts the interest rates on mortgages in certain areas. For example, if there are certain areas of a city in which the repayment rate for mortgages is high, First Fifth charges lower interest rates to the homebuyers in those areas. Discuss whether there are any constitutional or Fair Housing Act issues.

Question 2

A description in a deed that refers to a plat map that is then not attached to the deed is legally insufficient.
  Indicate whether the statement is true or false

[fraziera112]

Answer to Question 1

The practice of First Fifth Bank is one that is under scrutiny, particularly when the areas that have lower interest rates have single racial composition. The racial singularity leads to questions about redlining - whether areas are shut out from the best interest terms because of broad generalizations.

Answer to Question 2

TRUE

[Mr. Wonderful]

Thanks for the timely response, appreciate it

[mohan]

Wow, this really help