Luther Burbank Savings Settlement

Luther Burbank Savings Minimum Loan Amount Settlement On September 12th the Department of Justice announced a settlement with Luther Burbank Savings regarding the setting of minimum loan amounts for home mortgages. Facts ·         The case originated as an OTS referral to DOJ. ·         DOJ alleged that through mid-2011 Luther had a minimum loan amount policy […]

DOJ Files Complaint Against GFI Mortgage Bankers

April 11, 2012 Last week the Department of Justice filed a complaint against GFI Mortgage Bankers, Inc. of New York.  DOJ alleged “that GFI engage in a pattern or practice of discrimination on the basis of race and national origin by charging African-Americans and Hispanic borrowers higher interest rates and fees on home mortgage loans […]