вЂњThatвЂ™s maybe maybe perhaps not exactly exactly exactly what occurred,вЂќ she said and abruptly hung up. a declaration followed from Philadelphia Mortgage AdvisorsвЂ™ chief operating officer, Jill Quinn.
вЂњWe treat every applicant equally,вЂќ the statement stated, вЂњand promote homeownership throughout our lending area that is entire.вЂќ
FaroulвЂ™s loan officer at Santander, Dennis McNichol, referred show towards the companyвЂ™s public affairs wing, which issued a statement: вЂњWhile we have been sympathetic along with her situation, вЂ¦ we’re confident that the mortgage application had been handled fairly.вЂќ
RevealвЂ™s analysis of lending information suggests that nationally, Santander turned away African United states homebuyers at almost 3 x the price of white people. The organization failed to deal with that disparity in its declaration but stated it absolutely was prone to give that loan application from an african borrower that is american five of their rivals.
Pedestrians pass a now-closed Santander Bank branch in Philadelphia later just last year. Credit: Sarah Blesener for Reveal
Redlining history repeating
Lending habits in Philadelphia today resemble redlining maps drawn around the world by federal federal government officials into the 1930s, when lending discrimination ended up being appropriate. Continue reading