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#2252531 - 04/16/21 09:37 PM Discounted Rate for Additional Loan Products
Wonderofitall Offline
100 Club
Wonderofitall
Joined: Sep 2010
Posts: 171
Out West
Bank is considering offering unsecured loan product that would feature discounted rate for borrowers who have mortgage loan with us, but the product would be available for any who qualified. Same approval parameters for all borrowers.
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Fair Lending
#2252541 - 04/17/21 12:23 AM Re: Discounted Rate for Additional Loan Products Wonderofitall
Rocky P Offline
Power Poster
Joined: Jun 2003
Posts: 7,353
Florida
Document fully the business reasons/necessities for the discount, including marketing, etc. If a majority of your customers who can get the discount are middle age white guys, there could be an issue with disparate impact Many banks offer concessions to customers, you have to document it fully.
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