FHA FAIR HOUSING ACT Flashcards
- The Civil Rights Act of 1866 prohibits public and private racial discrimination in any property transaction in the United States
- The Civil Rights Act was later amended to Title VIII of the Civil Rights Act of 1968and is now commonly called the Fair Housing Act.
- The Fair Housing Act prohibits discrimination in the sale and lease of
residential property.
- The Fair Housing Act has seven (7) protected classes: sex, race, religion, color, national origin, disability & familial status. The first five (5) are also protected by the ECOA. The last two (2) – disability & familial status – are ONLY protected by Fair Housing
- Familial status is
- the fact that an adult has a child 18 or younger living with him or her
- Redlining is the
illegal practice by lenders arbitrarily denying or limiting financial services to specific neighborhoods
- To combat redlining,
the Community Reinvestment Act (CRA) was enacted to reduce discriminatory credit practices against low-income neighborhoods. Designed to help meet the credit needs of the community
- To further reduce redlining, the Home Mortgage Disclosure Act (HMDA) requires lenders to file report regarding all loans made during the year. Its designed to help meet the housing needs of the community.
- The Fair Housing Act prohibits housing discrimination based on
race, color, religion, sex, disability, familial status, and national origin.
- Steering is the
illegal practice by real estate agents directing buyers into or out of certain neighborhoods based on their ethnicity or race.
- Blockbusting occurs whe
a real estate agent spreads the rumor that a specific ethnic group is planning to move into the neighborhood and advises residents to sell before the property values drop
- Under the Fair Housing Act –
A written complaint may be filed with the HUD office within one year of the violation.
- The Fair Housing Act requires that
the “Equal Housing Lender” slogan and/or logo appear on all advertising.
