I see Equal Housing Lender on websites ex p2p finance websites that do not offer mortgages, (to clarify nor are they banks) and are often not technically lenders rather than facilitators of loan processing. Please read the prospectus of many of the p2p lenders. Ex Prosper and Lending club are marketplaces they do not originate the loan rather they are utilized in loan origination.
I googled Equal Housing Lender but it indicates that the (Bank) lender must follow fair and non-discriminatory practices but is there any assumption about what types of loans it has? Do all companies that lend money need to be Equal Housing Lenders?
Would a p2p marketplace company such as Lending Club or Prosper be required to display Equal Housing Lender for lets say a personal loan have implications? Please note that in both cases they use a bank WebBank as the lender. I clearly understand that WebBank must follow Equal Housing Lender / Equality laws as a Bank using federal funds.
Additionally could someone define the labeling's significance if any? Is there historical significant to why it is "Housing" lender rather than just Equal Lender?