The National Fair Housing Alliance may bring suit against a number of mortgage lenders, following an investigation into maintenance of bank-owned properties in minority neighborhoods.
The Washington-based trade group and three partnering agencies said lawsuits against eight lenders and asset managers could be filed if the investigation into the upkeep of REO homes in minority neighborhoods suggests those properties are receiving inadequate care when compared to REOs in predominantly white neighborhoods.
Shanna Smith, president and CEO of the alliance, didn't identify the lenders and asset managers under investigation, during a media phone conference Monday, but said the probe continues and any legal action would hinge on who is responsible if they find disparate treatment.
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