Download or read book What We Know About Mortgage Lending Discrimination in America written by Margery Austin Turner and published by DIANE Publishing. This book was released on 2000-07 with total page 69 pages. Available in PDF, EPUB and Kindle. Book excerpt: The U.S. Department of Housing and Human Development (HUD) presents the report "What We Know About Mortgage Lending Discrimination in America." The report outlines how discrimination can affect access to mortgage capital for minorities.
Download or read book What We Know about Mortgage Lending Discrimination in America written by and published by . This book was released on 1999 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book What We Know about Mortgage Lending Discrimination in America September 1999 written by Margery Austin; Yinger John; Ross Turner (Stephen; Temkin, Kenneth; Levy, Diane K; Levine, David; Smith, Robin Ross; DeLair, Michelle) and published by . This book was released on 1999 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: This reports adds to the growing body of evidence that discrimination remains a significant problem, and a sizeable barrier to opportunity, in America.
Download or read book Mortgage Lending Racial Discrimination and Federal Policy written by John Goering and published by Routledge. This book was released on 2018-12-20 with total page 665 pages. Available in PDF, EPUB and Kindle. Book excerpt: First published in 1997, this volume features a wealth of contributions discussing mortgage lending discrimination and the role of the FHA, fair lending enforcement and the Decatur case, along with the future of mortgage discrimination research. This key civil rights debate in the wake of the Fair Housing Act 25 years prior is evaluated and clarified through rigorous review of fair lending research, applied projects and enforcement activities to date. It argues forcefully that the right to take out a mortgage to buy a home should be conditioned only upon one’s credit worthiness and not on one’s race or ethnic group.
Download or read book Discrimination in Home Mortgage Lending written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Consumer and Regulatory Affairs and published by . This book was released on 1990 with total page 314 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Mortgage Lending Discrimination written by United States. Congress. House. Committee on Financial Services and published by . This book was released on 2008 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Color of Credit written by Stephen L. Ross and published by MIT Press. This book was released on 2002-11-08 with total page 488 pages. Available in PDF, EPUB and Kindle. Book excerpt: An analysis of current findings on mortgage-lending discrimination and suggestions for new procedures to improve its detection. In 2000, homeownership in the United States stood at an all-time high of 67.4 percent, but the homeownership rate was more than 50 percent higher for non-Hispanic whites than for blacks or Hispanics. Homeownership is the most common method for wealth accumulation and is viewed as critical for access to the most desirable communities and most comprehensive public services. Homeownership and mortgage lending are linked, of course, as the vast majority of home purchases are made with the help of a mortgage loan. Barriers to obtaining a mortgage represent obstacles to attaining the American dream of owning one's own home. These barriers take on added urgency when they are related to race or ethnicity. In this book Stephen Ross and John Yinger discuss what has been learned about mortgage-lending discrimination in recent years. They re-analyze existing loan-approval and loan-performance data and devise new tests for detecting discrimination in contemporary mortgage markets. They provide an in-depth review of the 1996 Boston Fed Study and its critics, along with new evidence that the minority-white loan-approval disparities in the Boston data represent discrimination, not variation in underwriting standards that can be justified on business grounds. Their analysis also reveals several major weaknesses in the current fair-lending enforcement system, namely, that it entirely overlooks one of the two main types of discrimination (disparate impact), misses many cases of the other main type (disparate treatment), and insulates some discriminating lenders from investigation. Ross and Yinger devise new procedures to overcome these weaknesses and show how the procedures can also be applied to discrimination in loan-pricing and credit-scoring.
Download or read book Truth in Business and Home Lending Discrimination written by Wilbert Smith Jr and published by AuthorHouse. This book was released on 2008-01-02 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although the existence of statistical disparities between whites and minorities in the extension home mortgage loans is acknowledged by all parties, disagreement exists as to the reasons for these disparities. Equal opportunity activists contend that racial discrimination by mortgage lending institutions is a contributing, if not the primary, source of these patterns. Other parties, however, suggest that the patterns reflect fundamental differences in the economic circumstances of population groups.
Download or read book Mortgage Discrimination written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Consumer and Regulatory Affairs and published by . This book was released on 1990 with total page 370 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Residential Mortgage Lending Disparities in Washington D C written by United States Commission on Civil Rights. District of Columbia Advisory Committee and published by . This book was released on 1998 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book America s Homeownership Gap written by United States Conference of Mayors and published by . This book was released on 1998 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Mortgage Money who Gets It written by United States Commission on Civil Rights and published by . This book was released on 1974 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Discriminating Risk written by Guy Stuart and published by Cornell University Press. This book was released on 2018-07-05 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: The U.S. home mortgage industry first formalized risk criteria in the 1920s and 1930s to determine which applicants should receive funds. Over the past eighty years, these formulae have become more sophisticated. Guy Stuart demonstrates that the very concepts on which lenders base their decisions reflect a set of social and political values about "who deserves what." Stuart examines the fine line between licit choice and illicit discrimination, arguing that lenders, while eradicating blatantly discriminatory practices, have ignored the racial and economic-class biases that remain encoded in their decision processes. He explains why African Americans and Latinos continue to be at a disadvantage in gaining access to loans: discrimination, he finds, results from the interaction between the way lenders make decisions and the way they shape the social structure of the mortgage and housing markets.Mortgage lenders, Stuart contends, are embedded in and shape a social context that can best be understood in terms of rules, networks, and the production of space. Stuart's history of lenders' risk criteria reveals that they were synthesized from rules of thumb, cultural norms, and untested theories. In addition, his interviews with real estate and lending professionals in the Chicago housing market show us how the criteria are implemented today. Drawing on census and Home Mortgage Disclosure Act data for quantitative support, Stuart concludes with concrete policy proposals that take into account the social structure in which lenders make decisions.
Download or read book Race for Profit written by Keeanga-Yamahtta Taylor and published by UNC Press Books. This book was released on 2019-09-03 with total page 364 pages. Available in PDF, EPUB and Kindle. Book excerpt: LONGLISTED FOR THE 2019 NATIONAL BOOK AWARD FINALIST, 2020 PULITZER PRIZE IN HISTORY By the late 1960s and early 1970s, reeling from a wave of urban uprisings, politicians finally worked to end the practice of redlining. Reasoning that the turbulence could be calmed by turning Black city-dwellers into homeowners, they passed the Housing and Urban Development Act of 1968, and set about establishing policies to induce mortgage lenders and the real estate industry to treat Black homebuyers equally. The disaster that ensued revealed that racist exclusion had not been eradicated, but rather transmuted into a new phenomenon of predatory inclusion. Race for Profit uncovers how exploitative real estate practices continued well after housing discrimination was banned. The same racist structures and individuals remained intact after redlining's end, and close relationships between regulators and the industry created incentives to ignore improprieties. Meanwhile, new policies meant to encourage low-income homeownership created new methods to exploit Black homeowners. The federal government guaranteed urban mortgages in an attempt to overcome resistance to lending to Black buyers – as if unprofitability, rather than racism, was the cause of housing segregation. Bankers, investors, and real estate agents took advantage of the perverse incentives, targeting the Black women most likely to fail to keep up their home payments and slip into foreclosure, multiplying their profits. As a result, by the end of the 1970s, the nation's first programs to encourage Black homeownership ended with tens of thousands of foreclosures in Black communities across the country. The push to uplift Black homeownership had descended into a goldmine for realtors and mortgage lenders, and a ready-made cudgel for the champions of deregulation to wield against government intervention of any kind. Narrating the story of a sea-change in housing policy and its dire impact on African Americans, Race for Profit reveals how the urban core was transformed into a new frontier of cynical extraction.
Download or read book At the Boundaries of Homeownership written by Chloe N. Thurston and published by Cambridge University Press. This book was released on 2018-05-03 with total page 275 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the United States, homeownership is synonymous with economic security and middle-class status. It has played this role in American life for almost a century, and as a result, homeownership's centrality to Americans' economic lives has come to seem natural and inevitable. But this state of affairs did not develop spontaneously or inexorably. On the contrary, it was the product of federal government policies, established during the 1930s and developed over the course of the twentieth century. At the Boundaries of Homeownership traces how the government's role in this became submerged from public view and how several groups who were locked out of homeownership came to recognize and reveal the role of the government. Through organizing and activism, these boundary groups transformed laws and private practices governing determinations of credit-worthiness. This book describes the important policy consequences of their achievements and the implications for how we understand American statebuilding.
Download or read book Rooting Out Discrimination in Mortgage Lending written by United States. Congress. House. Committee on Financial Services. Subcommittee on Oversight and Investigations and published by . This book was released on 2007 with total page 460 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The American Mortgage System written by Susan M. Wachter and published by University of Pennsylvania Press. This book was released on 2011-05-31 with total page 399 pages. Available in PDF, EPUB and Kindle. Book excerpt: Successful home ownership requires the availability of appropriate mortgage products. In the years leading up to the collapse of the housing market, home buyers frequently accepted mortgages that were not only wrong for them but catastrophic for the economy as a whole. When the housing market bubble burst, so did a cornerstone of the American dream for many families. Restoring the promise of this dream requires an unflinching inspection of lending institutions and the right tools to repair the structures that support solid home purchases. The American Mortgage System: Crisis and Reform focuses on the causes of the housing market collapse and proposes solutions to prevent another rash of foreclosures. Edited by two leaders in the field of real estate and finance, Susan M. Wachter and Marvin M. Smith, The American Mortgage System examines key elements of the mortgage meltdown. The volume's contributors address the influence of the Community Reinvestment Act, which is often blamed for the crisis. They uncover how the government-sponsored enterprises Fannie Mae and Freddie Mac invested outside the housing market with disastrous results. They present surprising information about low-income borrowers and the strengths of local banks. This collection of thoughtful studies includes extensive analysis of loan practices and the creation of unstable mortgage securities, presenting data largely unavailable until now. More than a critique, The American Mortgage System offers solutions to the problems facing the future of American home ownership, including identifying asset price bubbles, calculating risk, and preventing discrimination in lending. Measured yet timely and by turns provocative, The American Mortgage System provides a careful assessment of a troubled but indispensable part of the economic and social structure of the United States. This book is a sound investment for economists, urban planners, and all who shape public policy.
