CFPB Warns Home Lenders: Don't Exclude Sec. 8 Welfare Takers

SOURCE: Mortgage News Feed

Housing: If you need federal subsidies to pay your apartment rent, it's a good bet you can't afford to buy a new home. But don't tell that to the Obama regime. It's pressuring banks to lend even to Section 8 voucher recipients. In a new regulatory bulletin, the Consumer Financial Protection Bureau warns home lenders that they can be investigated for discrimination if they reject Section 8 vouchers as a valid source of income for low-income minorities applying for mortgages.

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