No person engaged in activities or transactions contemplated in this ordinance shall discriminate against any person on the basis of race, color, religion, sex, creed, ancestry, national origin, or physical or mental handicap in connection with such activities or transactions. Any agreement pursuant to which a lending institution originates, makes or services home mortgages pursuant to this ordinance shall contain the substance of the following clause:
This institution will not arbitrarily reject mortgage loans for residential properties within a specific geographic area in Chicago because of the location and/or age of the property, or in the case of a proposed borrower, arbitrarily vary the terms of those loans or the application procedures for those loans because of race, color, religion, national origin, age, sex or marital status. In addition, the institution will make loans available on low and moderate income residential property in the neighborhoods of the City of Chicago within the limits of its legal restrictions and prudent financial practices.
The lending institution shall report to the municipality and the governing body of the municipality for the period and as specified in any ordinance authorizing bonds to be issued hereunder, at least the following information:
(a) Number of mortgages granted;
(b) Number and amount of mortgages by census tract and/or zip code; and
(c) The adjusted gross income of all mortgagors for the previous year.
(Prior code § 7-95)