Bill Sponsored by Assembly members Mosquera & Wimberly
(TRENTON) – Legislation sponsored by Assembly Democrats Gabriela Mosquera and Benjie Wimberly that would address concerns of mortgage discrimination and foreclosure practices by prohibiting discrimination based on familial status and revising the Fair Foreclosure Act was approved by the full Assembly on Thursday, 69-0.
The bill (A-1195), sponsored by Assemblywoman Gabriela Mosquera, prohibits depository institutions that make mortgage loans in this state from discriminating against any person in making available a mortgage loan, or in terms or conditions of a mortgage loan, because of the person’s familial status.
The bill defines “familial status” as being the natural parent of a child, the adoptive parent of a child, the resource family parent of a child, having a “parent and child relationship” with a child as defined by state law, or having sole or joint legal or physical custody, care, guardianship, or visitation with a child, or any person who is pregnant or is in the process of securing legal custody of any individual who has not attained the age of 14.
“No one should be denied or delayed loans because of their familial status,” said Mosquera (D-Camden, Gloucester). “As long as the candidate is qualified for the loan, whether or not they have children or are on maternity leave or expanding their families, should not be considered as part of the loan application process.”
“The goal here is to prevent discrimination in mortgage loan process against individuals who may have income inconsistencies due to changes in their family dynamic,” said Wimberly (D-Bergen, Passaic. “Their familial status should not be held against them and this information should absolutely not be a requirement for a mortgage loan.”
The bill was approved by the Assembly Financial Institutions and Insurance Committee on January 12. It now goes to the Senate for further consideration.