University of Michigan Law School
Civil Rights Litigation Clearinghouse
Title "Latimore v. Citibank Federal Savings Bank 151 F.3d 712 (7th Cir. 1998)"
Date Apr 1, 1999
Author Washington and Lee Journal of Civil Rights and Social Justice
External Link
Abstract Helen Latimore owned a home in a predominately black neighborhood in Chicago, Illinois.' She applied to Citibank Federal Savings Bank ("Citibank") for a $51,000 loan using her home as collateral.2 Citibank required that two conditions be met to receive a loan: creditworthiness, and that the collateral value be at least 75% of the amount of the loan. Latimore received an appraisal on the house a year earlier for $82,000, that would qualify her for a $61,500 loan. Citibank did not know of the first appraisal when it initially denied the loan.4 Citibank's appraiser, Ed Kembauer, however, valued the home at $45,000.5 Kernbauer's appraisal made the requested $51,000 loan 113% of the collateral.
Source Washington and Lee School of Law

This Resource Relates To
case Latimore v. Citibank Fed. Sav. Bank (FH-IL-0003)

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