MCT Says It's the First to Integrate with Freddie Mac’s Income Limits API Mortgage Capital Trading, Inc. (MCT®), a mortgage hedge advisory and secondary marketing software firm, announced it is the first secondary marketing platform to integrate with Freddie Mac’s Income Limits application programming interface (API) created for the first-time home buyer area median income (AMI) limits.

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City National Bank to Pay $31M in Biggest Redlining Settlement

City National Bank has agreed to pay $31 million, the largest redlining settlement in the Department of Justice’s history, to resolve allegations of discrimination by rejecting mortgages in Black and Latino communities. So reports the Associated Press.

city National BankThe agency claims that from 2017 to 2020 the bank systematically avoided underwriting mortgages in mainly Black and Latino areas in Los Angeles County, receiving one-sixth as many mortgage applications as other lenders in those neighborhoods.

The Biden administration has established a task force to fight redlining and City National is the most recent bank to come in the crosshairs.

Read the full article from the Associated Press.

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