| Federal
policy is to ensure fair housing by prohibiting discrimination
based on race, color, religion, sex, national origin,
marital status, age, or physical disabilities in connection
with the sale, rental, construction, or financing of housing.
To supplement federal legislation, state laws have been
enacted to forbid the discriminatory practice known as
"red-lining," which results in blanket refusals
by some lenders to make loans in neighborhoods of declining
property values.
The Holden Act prohibits the consideration of race,
color, religion, sex, marital status, national origin,
or ancestry in lending for the purchase, construction,
improvement, or rehabilitation of housing. Further,
lenders cannot deny loan applications because of ethnic
composition, conditions, characteristics, or expected
trends in the neighborhood or geographic area surrounding
the property. The Act encourages increased lending in
neighborhoods where, in the past, financing has been
unavailable. The major goal of the Act is to ensure
and increase the supply of safe and decent housing for
credit-worthy borrowers and to prevent neighborhood
decay.
To ensure that prospective borrowers are aware of their
rights under this law, lenders must notify all applicants
of the provisions of the Holden Act at the time of loan
application. The notice must include the address where
complaints may be filed and where information may be
obtained. The notice must be in at least 10-point type
and must also be posted in a conspicuous location in
the lender’s place of business.
Any applicant seeking a real estate loan in connection
with financing a personal residence (containing not
more than four dwelling units) who believes he/she has
been subjected to discrimination may file a complaint
with the Secretary of the Business, Transportation and
Housing Agency or his or her designee. The Secretary’s
decision will be final unless the applicant or lender
requests a hearing.
Health & Safety Code Section 35800 et seq.
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