Bias in financial institutions rewards simple applications, hindering complex mortgage submissions by minorities with lower incomes.
Ingrained biases in mortgage institutions were recently highlighted in a probe regarding unequal loan discounts and price exceptions.
Challenges in homeownership persist due to high prices, interest rates, and outdated processes, leading to frustration and despair.
The antiquated mortgage loan process overlooks complexity for 'vanilla' applications, but AI and empathetic tech offer hope for a more inclusive future.
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