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JOINT WORKING GROUP TACKLES POLICY STATEMENT ON MORTGAGE LENDING DISCRIMINATION

 WASHINGTON, July 20 /PRNewswire/ -- The Office of the Comptroller of the Currency (OCC) and the U.S. Department of Housing and Urban Development (HUD) today announced that a joint working group has begun crafting a policy statement on lending discrimination.
 The statement will be used to guide bank, courts, attorneys, fair housing groups, and others on what constitutes discriminatory actions in mortgage lending. Additionally, the policy statement can be used to assist the efforts of fair housing groups and will serve as a foundation for rulemaking on discrimination issues. The group will consult with other regulatory agencies and community and industry groups before adopting a final statement on discrimination.
 HUD and OCC will share expertise and information on antidiscrimination techniques such as the employment of testers in the pre-application phase of lending. Working group officials said the working group will analyze bank data compiled under the Home Mortgage Disclosure Act (HMDA) to target lenders for fair lending examinations. This analysis could ultimately result in more efficient and effective use of available agency resources.
 Formation of the joint working group was announced May 18 this year.
 -0- 7/20/93
 /CONTACT: Michael Siegel, 202-708-0685, Robert E. Nipp, 202-708-0980, or Ellen Stockdale, 202-874-4700, all for the working group/


CO: Department of Housing and Urban Development; Office of the
 Comptroller of the Currency ST: District of Columbia IN: FIN SU: EXE


KD-TW -- DC012 -- 6709 07/20/93 10:43 EDT
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Publication:PR Newswire
Date:Jul 20, 1993
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