COMPLIANCE

Fair Lending

Fair lending means every borrower gets the same access to mortgage credit, on the same terms, based only on financial factors. It's required by two federal laws, the Equal Credit Opportunity Act and the Fair Housing Act, and tracked through public data under the Home Mortgage Disclosure Act.

Talk to a loan officerVerify our NMLS license
  • Licensed mortgage broker
  • Company NMLS 2783307
  • Equal Housing Opportunity

Our commitment

Our Commitment to Equal and Inclusive Lending

HomyLoan is dedicated to providing fair and equal lending opportunities to all individuals. We follow all federal and state fair lending laws and actively work to eliminate barriers to credit.

Fair lending is a core part of our company culture and our promise to every borrower.

Our fair lending practices include:

  • Non-discriminatory policies
  • The same application process and questions for every borrower
  • Equal pricing and loan terms based on creditworthiness
  • Ethical decision-making across the lending process

What the law requires

The laws behind fair lending

Fair lending isn't one law. Several federal laws work together, enforced by the Consumer Financial Protection Bureau (CFPB), HUD, the Department of Justice and banking regulators. Texas licensing rules add their own conduct standards for loan originators.

Equal Credit Opportunity Act

Bans discrimination in any credit decision based on race, color, religion, national origin, sex, marital status, age, public assistance income or exercising credit rights.

Fair Housing Act

Bans discrimination in housing and mortgage transactions based on race, color, religion, sex, national origin, familial status or disability.

Home Mortgage Disclosure Act

Requires many lenders to report data on mortgage applications, so regulators and the public can spot patterns of unfair lending.

Fair pricing

Rates, points and fees must follow the same credit-based rules for everyone. Differences can't come from a protected trait.

What it means for you

What fair lending looks like for you

  • You hear about every loan program you may qualify for, not just one.
  • Your price depends on credit, loan amount, down payment and property, the same as anyone else's.
  • No one discourages you from applying or steers you to a costlier loan because of who you are.
  • If you're denied, you get the reasons in writing.

How HomyLoan follows it

Fairness built into how a broker works

  • Each client works with one dedicated licensed loan officer, who follows the same process for every application.
  • We compare programs across a network of wholesale lenders, so you can weigh options side by side.
  • Federal rules bar loan originator pay from depending on a loan's interest rate or terms, which removes a reason to steer anyone.
  • Every Loan Estimate shows the same standardized costs, so you can compare offers fairly.

If something goes wrong

How to file a complaint

If you think you were treated unfairly because of a protected trait, you can report it. The CFPB handles credit discrimination complaints, HUD handles housing discrimination, and the Texas SML oversees licensed mortgage companies and loan originators in Texas.

Consumer Financial Protection Bureau (CFPB)

The federal agency for mortgage complaints, including disclosures, credit discrimination and loan originator conduct. The CFPB forwards complaints to the company and tracks the response.

consumerfinance.gov/complaint

U.S. Department of Housing and Urban Development (HUD)

HUD's Office of Fair Housing and Equal Opportunity takes housing discrimination complaints, including mortgage lending. Complaints are generally due within one year of the event. HUD's fair housing line is 1-800-669-9777.

hud.gov

Texas Department of Savings and Mortgage Lending (SML)

The state regulator that licenses residential mortgage loan originators and mortgage companies in Texas. Its website has the consumer complaint form and instructions.

sml.texas.gov

Fair lending FAQs

  • Fair lending means lenders and brokers offer credit on equal terms to everyone, based only on financial factors. It's required mainly by the Equal Credit Opportunity Act and the Fair Housing Act.

  • The CFPB, HUD, the Department of Justice and federal banking regulators enforce fair lending laws. In Texas, the Department of Savings and Mortgage Lending licenses and supervises mortgage companies and loan originators.

  • Steering is pushing a borrower toward a loan that's worse for them, such as one with a higher rate, for reasons other than their qualifications. Federal loan originator rules restrict it.

  • Not because of the people who live in your neighborhood. Pricing can reflect property and loan factors, but refusing or worsening loans in an area because of its residents' race or national origin is illegal redlining.

  • Compare the Loan Estimates you receive line by line, since the form is the same for every lender. Ask your loan officer to explain any difference in rate, points or fees.

Related policies

More on how we protect borrowers

Licensing and trust

Licensed, and easy to verify

HomyLoan, LLC is a licensed mortgage broker, Company NMLS ID 2783307. You can confirm our license status at any time on NMLS Consumer Access, the official public lookup run by the Nationwide Multistate Licensing System.

Verify on NMLS Consumer AccessFair lending

License details

Public record on NMLS Consumer Access

Legal name
HomyLoan, LLC
License type
Mortgage broker
Company NMLS ID
2783307
Individual NMLS ID
2658032
Equal Housing Opportunity logo

Equal Housing Opportunity. We do business in accordance with the Fair Housing Act and the Equal Credit Opportunity Act.

Questions?

Ask a licensed loan officer

If something about your loan or your rights isn't clear, ask us. We'll explain it in plain language or point you to the right agency.

Contact usStart your application

info@homyloan.comOffice (830) 200-0016

This page is general information, not legal advice.