All Borrowers Equality
- Exponential Mortgage is committed to serving all borrowers equally, without regard to an individual's race, color, national origin, religion, sex, familial status o handicap. As such, it is Exponential Mortgage's policy to issue
all conditional commitments (to purchase a loan) without regard to a borrower's race, color, national origin, religion, sex, familial status or handicap.
Goal Of Fair Lending
- With the goal of Fair Lending in mind, it is also our policy to promote Fair Lending practices to our entire wholesale customer base. Though Exponential Mortgage does not dictate how a wholesale customer prices a loan or charges
fees to a borrower, we must emphasize the critical nature of supporting sound Fair Lending practices
Zero Bias On Originating Loan
- Exponential Mortgage urges all of our wholesale customers to develop fair lending procedures that provide controls to determine and guard against originating loans that are in any way biased based on a borrower's race, color, national
origin, religion, sex, familial status or handicap.
Zero Bias On Rate And Fees
- Bias is not restricted to merely whether or not a borrower receives a loan. Bias may also be demonstrated by analyzing rates and fees charged to borrowers of a specific group. In an effort to ensure that our wholesale customer
base is compliant with the Fair Housing Act, Exponential Mortgage performs regular post-closing reviews to determine if any borrower treatment or pricing disparity exists for borrowers in a specific group (as outlined by the
Fair Housing Act).
Right To Cease Conducting Business
- By reviewing the rates/fees charged on closed loans purchased from our wholesale customer base, our goal is to verify whether any disparities exist. If Exponential Mortgage determines that disparities do exist for a specific wholesale
customer, we may exercise our right to cease conducting business with a specific wholesale customer
Do Not Focus On A Lender's Intent
- We would also like to emphasize that Fair lending laws do not focus on a lender's "intent." We believe that all wholesale customers "intend" to provide borrowers with loans. Rather than focus on intent, compliance with the Fair
Housing Act requires our wholesale customer base to look at their loans and analyze whether all borrower groups are priced/charged and treated equitably.
Fair Lending For All Borrowers
- Though Exponential Mortgage does analyze rates and fees charged by our wholesale customer base, we would like to emphasize that this practice will not protect you from being pulled into litigation for non compliance with the Fair
Housing Act. The best way to protect your business is to adopt sound and comprehensive fair lending procedures. By doing so, we work together in our common goal of Fair Lending for all borrowers.
In Regard to Mortgage Lending
No one may take any of the following actions based on race, color, national origin, religion, sex, familial status or handicap (disability)
- Refuse to make a mortgage loan
- Refuse to provide information regarding loans
- Discriminate in appraising property
- Impose different terms or conditions on a loan, such as different interest rates, points, or fees
- Discriminate in appraising property