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Violation Tracker Individual Record

Company: Fairway Independent Mortgage Corporation
Penalty: $8,900,000
Year: 2024
Date: October 15, 2024
Offense Group: consumer-protection-related offenses
Primary Offense: discriminatory practices (non-employment)
Secondary Offense: consumer protection violation
Violation Description: The Consumer Financial Protection Bureau (CFPB) and the Justice Department (DOJ) took action to end what they called Fairway Independent Mortgage Corporation's illegal mortgage lending discrimination against majority-Black neighborhoods in the greater Birmingham, Alabama area. The CFPB and DOJ alleged that Fairway illegally redlined Black neighborhoods, including through its marketing and sales actions. Fairway's actions were said to have discouraged people from applying for mortgage loans in the Birmingham metropolitan area's Black neighborhoods. The settlement required Fairway to pay a $1.9 million civil penalty to the CFPB's victims relief fund and to provide $7 million for a loan subsidy program to offer affordable home purchase, refinance, and home improvement loans in majority-Black neighborhoods.
Level of Government: federal
Action Type: agency action
Agency: Consumer Financial Protection Bureau
Civil or Criminal Case: civil
Source of Data: (click here)
Archived Source: (click here)
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.