Aegis Mortgage Corp. settled a fair-lending complaint that its underwriting guidelines effectively redlined Indian reservations, row houses in inner cities, and group homes for people with disabilities.
The National Community Reinvestment Coalition announced the settlement Thursday.
The Houston lender said it agreed to eliminate a requirement that loans be underwritten to a minimum property value of $60,000. It also agreed to pay the Washington nonprofit $475,000 "to support … programs to expand equal access to credit.
