Reply to Woah, Navy Federal is hella racist

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]One thing to note:
CNN’s analysis is for conventional mortgages. These are mortgages with standardized terms and the lowest interest rates.

They may have been rejecting them for conventional products in order to steer them to higher priced non-conventional products like ARMs. [/quote]

How do VA loans factor in - we are military and among our cohorts we all get VA loans because they give better rates than conventional.[/quote]

I'm almost certain that VA loans are not covered by this article. As you mentioned, those usually have better terms for service members than even the "conventional" mortgages available to civilians. And there's no incentive to NCFU to deny a VA loan to a borrower as long as they meet the checklist of requirements applicable to a VA borrower. In short, when a bank facilitates a VA loan they are essentially acting a facilitator for the VA and receive a fee for the work on process the loan.

My inclination is that this article is primarily covering NCFU borrowers who are civilians. [/quote]

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