§ 7109.6. On-Site Characteristics.
21 CA ADC § 7109.6Barclays Official California Code of Regulations
21 CCR § 7109.6
§ 7109.6. On-Site Characteristics.
The use of a rigid list of select on-site characteristics as an automatic basis for rejecting a loan can have a discriminatory effect against some neighborhoods and borrowers. For example, use of a rigid underwriting rule which establishes a minimum square footage requirement may be discriminatory. To the extent such lending policies do have a discriminatory effect, and there is no legitimate business purpose served, such policies shall constitute a violation of the Act. The financial institutions shall evaluate the on-site characteristics or physical conditions of each security property on a case-by-case basis.
Credits
Note: Authority cited: Section 35814, Health and Safety Code. Reference: Sections 35810-35815, Health and Safety Code.
This database is current through 4/26/24 Register 2024, No. 17.
Cal. Admin. Code tit. 21, § 7109.6, 21 CA ADC § 7109.6
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