CLEVELAND -- A new project designed to identify and eliminate discriminatory lending practices has been launched in Ohio.
The Cleveland Residential Housing and Mortgage Credit Project is jointly run by the Federal Reserve Bank of Cleveland, the Greater Cleveland Roundtable, the Cuyahoga County Department of Development, and the Ohio Civil Rights Commission.
Working with area banks, thrifts, and mortgage companies, the mortgage credit project is instituting a formal training and certification program for loan originators along with a course in fair lending for real estate agents.
The group also is developing a curriculum to teach high school students about housing and mortgage markets.
Appraisals are being targeted as well as the groups work on ways to increase appraisers' understanding of Cleveland neighborhoods.