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Our loan department would like to send letters to customers with first mortgages with our bank encouraging them to apply for a HELOC. Will these letters require an “Equal Housing Lender” symbol or language? – IBA Compliance Connection

IBA Compliance Connection

Your go to source for compliance!

Our loan department would like to send letters to customers with first mortgages with our bank encouraging them to apply for a HELOC. Will these letters require an “Equal Housing Lender” symbol or language?

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Yes, the Fair Housing Act requires that any advertisement for a loan secured by a dwelling must include a statement that the lender is an “Equal Housing Lender.” Consequently, the “Equal Housing Lender” logo should be included in your loan department’s HELOC letters.

For resources related to our guidance, please see:

  • OCC Fair Housing Regulations, 12 CFR 128.4 (“No savings association may directly or indirectly engage in any form of advertising that implies or suggests a policy of discrimination or exclusion in violation of title VIII of the Civil Rights Acts of 1968, the Equal Credit Opportunity Act, or this part 128. Advertisements for any loan for the purpose of purchasing, constructing, improving, repairing, or maintaining a dwelling or any loan secured by a dwelling shall include a facsimile of the following logotype and legend: [Equal Housing Lender logo]”)