Explore guides to help you plan for big financial goals. A Guide To Investing In Mixed-Use Property | Rocket Mortgage When youre investing in a mixed-use development, theres no limit to the types of properties you can include. The Fair Housing Act (FHA) prohibits discrimination in all aspects of residential real-estate related transactions. Subscribe to our RSS feed to get the latest content in your reader. Overt discrimination may be blatant or obvious, but lenders should understand it can occur inadvertently. VQY8HJlA26f*\i7Y&C If certain information, such required under 1002.12(b), cant be provided to a regulator. There are generally (3) recognized types of discrimination as it relates to fair lending. These zoning developments usually fall into one of three categories: In recent years, there has been a growing demand for mixed-use developments. A short one-page application process makes it an even more convenient way to get $5,000 or $10,000 worth of credit. Law Firm Website Design by New Media Campaigns, CFPB Employs Mystery Shopper Strategy in Fair Lending Investigation, Consumer Financial Services Litigation & Compliance, Consumer Financial Services Litigation and Compliance. Typically, you need cash reserves equal to six months' worth of principal, interest, tax and insurance (PITI) payments on the new mortgage. Kinsis fair-lending mystery-shopping program provides clients with observations regarding differences in treatment based on prohibited basis across the following areas: Click here for a blog post describing the positive relationship between compliance and sales effectiveness,: Kinsis delivers a refreshingly simple and user-friendly web publishing system, backed by a professional and responsive team. Learn more. poverty, deprivation. While residential tenants provide a more stable source of rental income, commercial tenants, such as ground floor retail, are usually willing to pay more for rent. 0000001950 00000 n Residential commercial mixed-use properties with 5 or more residential units, with no more than 35% of gross potential revenue and 35% gross rentable space from the .
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