The Mortgage Firm, based in Altamonte Springs, and the Justice Department have agreed on a consent order that still needs to be approved by a court.
By denying predominantly Black and Hispanic neighborhoods in the greater Miami area access to credit, The Mortgage Firm violated the law, denied communities equal access to credit and exacerbated the racial wealth gap.
As reflected in the publicly available proposed settlement terms, The Mortgage Firm does not agree with the contention that its South Florida lending practices violated any laws or regulations.
This settlement will provide impacted communities in Miami with expanded access to homeownership.
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