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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Lucretius who started this subject	9/25/2002 3:36:12 PM
From: Bid Buster	Read Replies (4) of 436258

Fannie Mae Sued for Discrimination September 25, 2002 14:50:13 (ET) WASHINGTON, Sept 25 (Reuters) - A mortgage applicant has sued mortgage finance giant Fannie Mae (FNM,Trade) in U.S. District Court for discrimination, alleging she was denied credit because of the company's automated credit scoring system. Safiyyah Rahmaan, a black resident of Wilson, N.C., said in a complaint filed Sept. 13 in Washington that she was turned down for mortgage loans or offered loans at higher interest rates because of Fannie Mae's credit scoring software. "The credit scoring model used by Fannie Mae is inherently discriminatory in that it contains racially discriminatory assumptions that are embedded in the statistical formulas," Rahmaan's lawyers said in her lawsuit. The use of credit scoring by Fannie Mae discriminates against minority applicants and has a different impact on minority applicants than on others, Rahmaan charged. © Copyright 2001 Reuters. Click Here for Limitations and Restrictions on Use.

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