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#1900321 - 02/26/14 08:35 PM Risk Based Pricing
wblewis935 Offline
Member
Joined: Feb 2011
Posts: 53
My bank charges a higher interest rate on mortgages that 1) are low dollar loans (mtgs under 10K) and 2) on loans with a LTV of greater than 80%.

Obviously, we send risk-based pricing notices customers who are charged a higher rate due to their credit score. Is there any disclosure/notice that is required for loans with higher rates for the reason that I explained above?

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Audit
#1900333 - 02/26/14 08:55 PM Re: Risk Based Pricing wblewis935
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,364
Galveston, TX
No.
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#1900507 - 02/27/14 01:43 PM Re: Risk Based Pricing wblewis935
edAudit Offline
Power Poster
edAudit
Joined: Jul 2008
Posts: 4,796
You are here
If this is your review make sure that Fair lending is not an issue because of the rate may negatively impact minorities.
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