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Authorities Settled Loan Discrimination in New York State

New York State Authorities have settled a case of discrimination against minority borrowers by two mortgage brokers.

The brokers were found guilty of charging higher mortgage fees from black and Latino customers than the equally-qualified white borrowers.

The two companies - HCI Mortgage of Lake Ariel, PA and Consumer One Mortgage of Ronkonkoma, N.Y. have agreed to pay $665,000 in restitution to 455 customers who received loans during 2005-2007. It is also agreed that the companies will not question the findings of the investigation.

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