The HUD is set to announce new rules in mortgage applications.
A New York Times report caught my attention. It reads, “In an announcement last month, Shaun Donovan, the secretary of Housing and Urban Development, said that his staff would soon propose a rule that would specify, among other things, that any F.H.A.-insured mortgage must be based on the creditworthiness of a borrower and not on unrelated factors like sexual orientation.
“In describing the need for such regulations, HUD pointed to a 2007 study conducted by Michigan’s Fair Housing Centers, which found that nearly 30 percent of same-sex couples were treated differently by real estate or mortgage professionals than heterosexual couples.”
But this is not what’s startling in the first place. To be frank, there should really be defined rules to avoid any discrimination against sexual orientation. What intrigued me was the part, “But Jim Pair, the president of the National Association of Mortgage Brokers, called the new HUD rules unnecessary. ‘I can understand they want to make sure there’s no discrimination,” he said, “but I haven’t heard of any and I haven’t seen any.
“As brokers,’ he added, ‘we live in the community, and these are people we know, and we’ve got to face them everyday in grocery stores, in our schools and businesses, and you just can’t discriminate and expect to stay in business. I wouldn’t.'”
Well that’s precisely why the H.U.D. needs to come up with their rules against discrimination, Mr. Pair. There may be no complaints this time most probably because these people don’t know of their rights yet. If they’ll be made aware that they have rights to uphold, then you would one day be encountering your first complaint. Perhaps, a couple would be less prioritized because of their status next month that you don’t know what to do about it when they come to your office.
Hope you realize the significance of Shaun Donovan’s decision.