Hi, I need an answer a.s.a.p. I have heard that a certain large lending inst. that has a presence in over 40 states and all throughout California has or had through 1995-1998 a stated "No lending Policy" through mortgage brokers. The gist is, if the applicant goes into a local branch the loan may or may not be approved due to the applicants package; however, this large inst. has a large wholesale lending dept. and accepts loan packages in certain economically blessed areas like the Bay area from mortgage brokers who originate the loan; however the large inst. will not, (they've stated 100% no lending policy) in Northern Cal. from mortgage brokers who originate the loan. Isn't this redlining? They stated that they will not loan in N. California through mortgage brokers loan origination due to the economic status of the area and location. Can wholesale lenders ( I don't know if I'm using the right terminology) discriminate where they can fund a loan at if they fund in other parts of the state through the same way? Are the laws and regs. different for lenders who accept loans through mortgage brokers? Thanks and hope I got my question across in a coherrent way.

-- doreen zimmerman (appraiz@yahoo.com), May 17, 2000