The agreement resolves claims that Trident, which was in business until December 2020, focused its pursuit of mortgage lending more on areas found by census data to be predominantly white than on majority-minority areas.
July 27, 2022 at 05:39 PM
2 minute read
The original version of this story was published on The Legal Intelligencer
A mortgage lender has agreed to a $20 million settlement to resolve claims of redlining in the greater Philadelphia area.
The deal, announced Wednesday, requires Trident Mortgage Co. to subsidize up to $10,000 to support qualified applicants seeking new mortgages for owner-occupied homes in majority-minority neighborhoods over the next five years.
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