Mortgage Bankers Association

Company

Last mentioned: 4h ago

Timeline

  1. Expected Response

    Deadline for HUD to file its initial legal response to the complaint.

  2. Lawsuit Filed

    Democratic AGs officially file suit against HUD in federal court.

  3. AG Coalition Warning

    A group of 15 AGs sends a letter to HUD Secretary expressing concerns over 'safe harbor' provisions.

  4. HUD Issues Guidance

    HUD releases new guidance on the use of AI and alternative data in mortgage underwriting.

Stories mentioning Mortgage Bankers Association 1

Financial Regulation Bearish

Democratic AGs Sue HUD Over AI-Driven Fair Housing Guidance

A coalition of 22 Democratic Attorneys General has filed a federal lawsuit against HUD, alleging its recent fair housing guidance creates an unlawful 'safe harbor' for lenders using biased AI algorithms. The legal challenge marks a major escalation in the fight over how the Fair Housing Act applies to automated mortgage underwriting.

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