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Our fair lending policy & bias free commitment.

We started Achroma to create the world’s fairest mortgage marketplace. One way that we achieve this mission is by ensuring that lenders are making decisions strictly based on your finances and credit and never allowing for other personal factors like race, gender, ethnicity and religion to play any role whatsoever in the process. 

We do this by presenting a comprehensive, pre-underwritten, loan decision package that doesn’t contain any personal information. 

Empowering fair lending

What’s in a name.

Your name can say a lot about who you are. It’s often an accurate indicator of race, gender, ethnicity and religion. When we present a loan package to our lenders we remove key information, including your name, to eliminate the possibility of any implicit bias from influencing the decision. Along with name, we also remove data points such as date of birth, marital status, income and debt types such as alimony and child-support.

No redline.

While government sanctioned redlining has long been outlawed, the practice of denying loans to certain people within certain neighborhoods has not completely been eliminated. That’s why we remove any details about the property from the loan decision package, ensuring that neighborhood demographics are also removed from the process. 

The power of data.

We go to great lengths to ensure that only valuable financial and credit data are being used when evaluating a loan, however, we still collect all of the data. This is necessary both to proceed with processing and closing a loan, as well as for reporting and analyzing the state of disparity within US mortgages. In fact, organizations like Achroma use this data collection process to hone in on the prevalence of disparity in the market. It’s for this reason that we ask you to accurately fill out your demographic information. We don’t supply this information within our loan decision package but we do use it in our data analysis to ensure that we are consistently living up to our mission of the world’s fairest mortgage marketplace.

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© 2019 Achroma, Public Benefit Corporation | NMLS #1843403 Equal Housing Lender

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