The Fair Lending is a California State disclosure that informs the loan applicant that it is illegal to discriminate against credit applicants on the basis of race, color, religion, sex, marital status, national origin or ancestry, and conditions, characteristics, or trends in the neighborhood or geographic area surrounding a housing accommodation.
The purpose of Fair Lending Notice is to comply with the provisions of the California Housing Financial Discrimination Act of 1977, which is also known as the Holden Act. The requirement is codified in the section 35830 of California Health and Safety Code.
California law requires the lender to provide the disclosure to the applicant at the time of receiving a written loan application. The disclosure is required to be provided on mortgage loans secured by properties located in California.
California law requires the lender to post the California Fair Lending Notice at a prominent location in each branch location. This requirement is in addition to providing the fair lending notice for each loan.
Updated: Aug 08, 2013