Fair Lending Sample Clauses

Fair Lending. Broker acknowledges that ARC HOME is an Equal Housing Opportunity Lender and that ARC HOME is committed to treating all Borrowers in a fair and consistent manner and without regard to race, color, religion, national origin, age (provided the Borrower has legal capacity to enter into a binding contract), sex, marital status, disability, familial status, receipt of public assistance, or the exercise of legal rights under the federal Consumer Credit Protection Act (15 U.S.C. §§ 1601 et seq.). Broker represents it is likewise committed to fair lending compliance and warrants that Broker shall not discriminate against any person on any prohibited basis under Applicable Law, including the Fair Housing Act, ECOA, and the anti- steering requirements in TILA, or similar state or local law.

Fair Lending. Neither the Company nor a Company Subsidiary has received any notice or communication from any Governmental Authority alleging violation of, or noncompliance with, any legal requirement concerning any fair lending laws or regulations, including the Equal Credit Opportunity Act and the Fair Housing Act (each such legal requirement and the rules promulgated thereunder, a “Fair Lending Law”). Neither the Company nor a Company Subsidiary has been cited, fined or otherwise notified of any failure by it to comply with a Fair Lending Law which has not been cured or otherwise satisfied in full.

Fair Lending. Neither the Company nor a Company Subsidiary has received any notice or communication from any Governmental Authority alleging violation of, or noncompliance with, any legal requirement concerning any fair lending laws or regulations, including the Equal Credit Opportunity Act and the Fair Housing Act (each such legal requirement and the rules promulgated thereunder, a “Fair Lending Law”). Neither the Company nor a Company Subsidiary has been cited, fined or otherwise notified of any failure by it to comply with a Fair Lending Law which has not been cured or otherwise satisfied in full. To the Knowledge of the Company or a Company Subsidiary, there are no facts or circumstances that could form the reasonable basis for assertion of any proceeding against the Company or a Company Subsidiary under any Fair Lending Law that, if determined adversely to the Company or a Company Subsidiary, could reasonably be expected to have a Material Adverse Effect on the Company and the Company Subsidiaries as a whole.

Fair Lending. Dealer, its agents and employees shall not discriminate against any applicant or potential applicant on a prohibited basis under applicable federal, state or local fair lending laws, including without limitation, setting interest rates on Financing Transactions. Dealer, its agents and employees agree to fully comply with all fair lending laws including but not limited to the Equal Credit Opportunity Act, the Americans with Disabilities Act, Federal Reserve Board Regulation B, the Federal Fair Credit Reporting Act, and all similar state and local laws and regulations. Finance shall in no way be responsible for Dealer's compliance with such laws and regulations. Finance may choose to monitor or independently verify Dealer's compliance with such laws and regulations. If Finance discovers that there are compliance violations or fair lending risks associated with the Dealer, Finance may take any action, in its sole discretion, it deems necessary to mitigate the issues or risks discovered. These actions include but are not limited to: lowering of Customer's interest rate (which may include recapture of all or a portion of the Dealer Fee from Dealer); termination of the Dealer Agreement under Section 9.5; a demand for indemnity from Dealer under Section 8.1; a demand for Purchase/Re-Purchase of a particular Financing Transaction under Section 7.5; and/or any other action Finance, in its sole discretion, determines is necessary and appropriate to mitigate the issues or risks identified.

Fair Lending. Broker further acknowledges that it is Plaza’s policy and intent to support the promotion of fair lending compliance in accordance with the Fair Housing Act (“FHA”), 42 U.S.C. Sections 3601-3619, and the Equal Credit Opportunity Act (“ECOA”), 15 U.S.C. Sections 1691-1691(f) throughout the residential lending industry. In furtherance of this commitment, Broker hereby agrees to following: (A) To be subject to fair lending monitoring by Plaza on a semi-annual basis in order to detect statistically significant Broker fee disparities based on race and national origin. Further, should Plaza’s review disclose statistically significant Broker fee disparities, Broker agrees, immediately upon receipt of written notice from Plaza, to provide Plaza with non- discriminatory reasons for said disparities. Should no reasonable, non-race or national origin-based explanation exist for the noted disparities, Broker agrees to immediately take corrective action as directed by Plaza. Corrective action may include, but is not limited to financial remediation for borrowers if warranted, and/or additional Broker education regarding fair lending, and/or discipline for the Broker up to and including termination of Broker’s business relationship with Plaza.

Fair Lending. No fair lending laws were violated in the process of soliciting a consumer for the purpose of applying for a mortgage loan, in the taking of the application, or negotiating the pricing or terms of the mortgage loan product selected;

Fair Lending. Broker shall provide fair and equitable treatment to all home loan applicants, regardless of race, color, gender, marital status, familial status, immigration status, sexual orientation, religion, disability or national origin. Any act of discrimination violates Lender’s Fair Lending Policy and will be deemed grounds for termination of this agreement.

Fair Lending. Broker further acknowledges that it is Plaza’s policy and intent to support the promotion of fair lending compliance in accordance with the Fair Housing Act (“FHA”), 42 U.S.C. Sections 3601-3619, and the Equal Credit Opportunity Act (“ECOA”), 15 U.S.C. Sections 1691-1691(f) throughout the residential lending industry. In furtherance of this commitment, Broker hereby agrees to following: (A) To provide to Plaza for inclusion into the Loan’s file a disclosure executed by both Broker and Borrower which shall provide the following information: (i) the full amount of any Broker compensation and a disclosure that such compensation is or is not negotiable between Broker and the borrower; and (ii) a notice of non-discrimination that provides substantially the same information as the following: (B) To be subject to fair lending monitoring by Plaza on a semi-annual basis in order to detect statistically significant Broker fee disparities based on race and national origin. Further, should Plaza’s review disclose statistically significant Broker fee disparities, Broker agrees, immediately upon receipt of written notice from Plaza, to provide Plaza with non-discriminatory reasons for said disparities. Should no reasonable, non-race or national origin-based explanation exist for the noted disparities, Broker agrees to immediately take corrective action as directed by Plaza. Corrective action may include, but is not limited to financial remediation for borrowers if warranted, and/or additional Broker education regarding fair lending, and/or discipline for the Broker up to and including termination of Broker’s business relationship with Plaza.

Fair Lending. Broker has complied with the fair lending requirements of the FHA and all regulations promulgated pursuant thereto and with all other applicable federal, state and local laws, rules and regulations pertaining to fair lending. With respect to each Applicant, Broker has not discriminated in the provision of or in the availability of financial assistance because of the consideration of (A) trends, characteristics or conditions in the neighborhood or geographic area surrounding a housing accommodation, unless Broker can demonstrate in the particular case that such consideration is required to avoid an unsafe and unsound business practice, or (B) race, color, religion, sex, handicap, marital status, domestic partnership, national origin or ancestry. Further with respect to each Applicant, Broker has not considered the racial, ethnic, religious or national origin composition of a neighborhood or geographic area surrounding a housing accommodation or whether or not such composition is undergoing change, or is expected to undergo change, in appraising a housing accommodation or in determining whether or not, or under what terms and conditions, to provide financial assistance.

Fair Lending. Without limiting any other provision of this Agreement, Broker shall not discriminate with respect to any loan application and related loan in violation of Applicable Laws. Broker acknowledges that ClearEdge: 1) has implemented a Fair Lending Plan (which is available on ClearEdge’s website); and (2) will monitor loan submissions for fair lending performance in conformity with its internal Fair Lending Plan, and in compliance with applicable federal and state laws. ClearEdge reserves the right to terminate this Agreement for Broker’s failure to comply with fair lending laws and regulations or ClearEdge’s Fair Lending Plan.