My cat Myrtle has some publicity once in a while, although she doesn’t want people knowing she can only hear out of one ear. Freddie Mac had some publicity this morning with its earnings release. Here’s some publicity that no lender wants either. “Today, the Consumer Financial Protection Bureau (CFPB) and U.S. Department of Justice (DOJ) took action to end Trident Mortgage Company’s intentional discrimination against families living in majority-minority neighborhoods in the greater Philadelphia area. The CFPB and DOJ allege Trident redlined majority-minority neighborhoods through its marketing, sales, and hiring actions. Specifically, Trident’s actions discouraged prospective applicants from applying for mortgage and refinance loans in the greater Philadelphia area’s majority-minority neighborhoods… require Trident to pay a $4 million civil penalty to the CFPB to use for the CFPB’s victims’ relief fund… To increase nondiscriminatory access to credit, Trident will establish an $18.4 million loan subsidy program. A lender it contracts with will offer loans to qualified applicants on a more affordable basis when borrowing to purchase properties in majority-minority neighborhoods in the Philadelphia MSA. The loan subsidies can include closing cost assistance, down payment assistance, and payment of mortgage insurance premiums.” Don’t do the crime if you can’t do the time. (Today’s podcast is available here and today’s has a discussion with the two Robert Chrismans on this week’s Western Secondary topics. This week’s is sponsored by Candor. With Candor’s Machine as an Underwriter, lenders modernize their manufacturing infrastructure making them immune to margin, capacity, and staffing challenges forever.)