U.S. Department
of Justice
United States v The Mortgage Firm (S.D. Fla.)
On January 10, 2025, the court entered a consent order in United States v. The Mortgage Firm, Inc. (S.D. Fla.). The complaint, which was filed on January 7, 2025, alleges that The Mortgage Firm violated the Equal Credit Opportunity Act (ECOA) and the Fair Housing Act (FHA) by engaging in unlawful redlining in majority- and high-Black and Hispanic neighborhoods in the Miami-Fort Lauderdale-Pompano Beach, Florida Metropolitan Statistical Area. The consent order requires The Mortgage Firm to pay $1.75 million into a loan subsidy program to offer affordable home purchase, refinance, and home improvement loans; conduct a Community Credit Needs Assessment, maintain at least one physical location in a majority-Black and Hispanic neighborhood in Miami-Dade County; work with one or more community partners to increase access to credit in majority-Black and Hispanic neighborhoods; enhance its fair lending training; and expand its outreach to Black and Hispanic neighborhoods, among other provisions.