Thread Starter: PNWcomplymi
Title: Re: Promotional Pricing for Lending
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The bank has instituted what management is calling "promotional pricing" for loans originated in five counties that are new markets for it. The business purpose has been defined as just that - to generate new business.
In doing that the rate sheets identify those five counties has having a .500 credit to the rate. If an applicant from outside those counties "asks" for the credit, because heard about it(I guess). The bank will honor that pricing in all counties.
Fair Lending/Fair Housing concerns??
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