The Pennsylvania AG opened a redlining investigation last year following a news report that white borrowers in Philadelphia received 10 times as many conventional mortgage loans as African-American borrowers.
The organization’s largest sources of revenue — by far — are its annual convention and the cash it takes in from membership dues: $30.4 million and $24.3 million, respectively.
Bob Garrett, executive vice president in charge of warehouse finance at First Tennessee Bank, said he’s seen some competitors that are so overwhelmed with demand they’re turning away business.