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We became a HUD recognized fair housing initiative program in 2002.  Our application very clearly stated that there can be no fair housing without fair lending.  We had begun noticing the impact of credit scores on our community's ability to rent or own a home, purchase insurance, and the high cost of borrowing for credit cards, automobile loans, etc.   HUD had already recognized that predatory lending was an impediment to fair housing.   Exotic mortgages are a more recent phenomenon and we are aggressive in our education and outreach on this topic.  We want to make sure that our target community understands what constitutes violation of fair housing/fair lending laws and what to do when the laws were violated.  We want to educate our community about the high cost of low income.  We want our community to take full advantage of free resources in community such as housing counselors, IDA program, credit builder program, and so forth.  Since 2002, with funding from HUD and many Delaware financial institutions, we continue to serve our constituents in many ways.

Benefits to the consumer

bulletYou will understand your fair housing/fair lending rights and responsibilities
bulletYou will learn about homeownership, predatory lending practices, exotic mortgages, making smart borrowing decisions
bulletYou will learn to ask the right questions
bulletWe raise your issues in every forum available to us such as Housing and Urban Development, Human Relations Commission, Delaware Banking Commissioner, Delaware Attorney General, Federal Deposit Insurance Corporation, Federal Reserve Board, Office of Thrift Supervision, Office of the Comptroller of the Currency, National Credit Union Administration, the media, etc.
bulletWe comment on regulations that may impact your rights as a consumer of housing or lending

 

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Last modified: 09/24/07