The LinkedIn profile of First Guaranty Mortgage Corporation CEO, Andrew Peters. First Guaranty Mortgage is owned by Kenneth E. Clark.
First Guaranty Mortgage Corporation, a company based in
Virginia, is engaging in discriminatory and financially
abusive acts against minorities, the disabled and people
living in America of foreign origin, who try to obtain a
mortgage with their company to buy a home. It is an ongoing,
illegal practice damaging innocent people. Companies that
behave in this manner should be put out of business.
Recently, the city of Miami sued Wells Fargo bank for
discriminating against minorities and people living in
America of foreign extraction, who tried to apply for home
loans. A suspect Miami judge threw out the City Of Miami's
valid case. However, a three judge appeals court in
Washington, D.C. reinstated the case. You know judicial
corruption has gotten terrible in America when a judge can
corruptly throw out a case brought by the government.
In the appeals case City Of Miami vs. Wells Fargo & Co.,
(No. 14-14544 and D.C. Docket No. 1:13-cv-24508-WPD) the
City of Miami prevailed as a panel of three district judges
in Washington affirmed their complaint and remanded it back
to the district court via a ruling that stated:
"The City’s charges were further amplified by the statements
of several confidential witnesses who claimed that the Bank
deliberately targeted black and Latino borrowers for
predatory loans. For example, one former loan officer
attested that Wells Fargo management steered low- and
middle-income borrowers away from less expensive Community
Reinvestment Act loans and toward more expensive Fair
Housing Act and Freddie Mac loans. Id. at 36. Another
claimed that the Bank targeted minority churches and their
congregations for subprime loans. Id. at 37. A third claimed
that Hispanic borrowers’ applications for refinancing were
disproportionately denied: ‘a Rodriguez in the last name was
treated differently than a Smith,’ he stated."
Let that sink in. There are mortgage companies in America,
such as First Guaranty Mortgage Corporation and banks like
Wells Fargo, who are discriminating against consumers in
America based on them having ethnic sounding names such as
"Rodriguez" or "Latisha" or "Mohammed" (black, Hispanic,
Arab), hitting them with bigger loan fees and bad financial
instruments, in bids at financially exploiting and abusing
minorities and immigrants. That's terrible.
You know, the last lending institution who was caught doing
that, Washington Mutual, is no more. The Judiciary Report
ran a series of articles on Washington Mutual's criminal
practices against minorities and within a couple years the
company spectacularly collapsed, the remains bought for
pennies on the dollar by Chase Bank (Washington
Mutual Collapses Seized By Government and
Washington Mutual
Is No More). First Guaranty Mortgage Corporation
needs to heed the warning, as that is what they are firmly
headed for regarding their unlawful behavior. Said
discriminatory, financially abusive practices costing
minorities and immigrants money, homes and loans needs to
stop.
There will be more on First Guaranty Mortgage Corporation in
an upcoming Judiciary Report exposé.
