- This topic has 3 replies, 3 voices, and was last updated 13 years, 2 months ago by .
-
Topic
-
I am looking for some guidance on lending to the Mennonite/Amish community. We are being bombarded with loan requests from this group; however, it has been very difficult to complete a transaction for them given their limitations on having homeowner’s insurance and/or flood insurance. Their religious beliefs restrict them from purchasing any type of insurance. My concern is that “waiving” homeowner’s insurance for this community and not others will be an ECOA violation, as well as, UDAAP. We have had a few loans where we have just been able to take land and have been fine but when their are structures on the property we run into issues. Any thoughts???
Viewing 3 replies - 1 through 3 (of 3 total)
Viewing 3 replies - 1 through 3 (of 3 total)
- You must be logged in to reply to this topic.