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Author: Margery Austin Turner Publisher: DIANE Publishing ISBN: 0788187945 Category : Languages : en Pages : 69
Book Description
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.
Author: Margery Austin Turner Publisher: DIANE Publishing ISBN: 0788187945 Category : Languages : en Pages : 69
Book Description
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.
Author: John M. Goering Publisher: The Urban Insitute ISBN: 9780877666561 Category : Business & Economics Languages : en Pages : 776
Book Description
Whether or not there is discrimination in the mortgage lending market is one of the most extensively debated issues in the civil rights arena. Because many early studies were flawed and the results misinterpreted on both sides of the debate, there is little agreement as to the next essential steps in either research or enforcement. This comprehensive volume seeks to clarify the debate by including rigorous review of fair lending research, applied projects, and enforcement activities to date, as well as recommendations for research needed to resolve unanswered questions. The intent of the authors is to help the housing industry, regulators, advocates, and the research community to better understand the issue of discrimination in an important area of American life -- the right to take out a mortgage to buy a home based on one's credit worthiness, not on one's race or ethnic group.
Author: Stephen L. Ross Publisher: MIT Press ISBN: 9780262264334 Category : Business & Economics Languages : en Pages : 488
Book Description
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.
Author: Keeanga-Yamahtta Taylor Publisher: UNC Press Books ISBN: 1469653672 Category : History Languages : en Pages : 364
Book Description
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.
Author: Guy Stuart Publisher: Cornell University Press ISBN: 9780801440663 Category : Business & Economics Languages : en Pages : 284
Book Description
Mortgage lenders in the US, 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. This history of lenders' risk criteria reveals that they were synthesized from rules of thumb and untested theories.
Author: Rebecca K. Marchiel Publisher: University of Chicago Press ISBN: 0226815862 Category : Business & Economics Languages : en Pages : 321
Book Description
"The story of how American banks helped disenfranchise nonwhite urbanities and condemn to blight the very neighborhoods that needed the most investment is infuriating. And yet, by digging into the history of urban finance, Rebecca Marchiel here illuminates how urban activists changed some banks' behavior to support investment in communities that they had once abandoned. These developments, in turn, affected federal urban policy and reshaped banks' understanding of the role that urban communities play in the financial system. The legacy of reinvestment activism is clouded, but Marchiel's detailing of it transforms our understanding of the history and significance of community/bank relations"--Provided by publisher.
Author: Janis Sarra Publisher: Cambridge University Press ISBN: 1108496067 Category : Business & Economics Languages : en Pages : 329
Book Description
Examines predatory practices in mortgage markets to provide invaluable insight into the racial wealth gap between black and white Americans.
Author: Mary Lou Finley Publisher: University Press of Kentucky ISBN: 0813166527 Category : Biography & Autobiography Languages : en Pages : 525
Book Description
Six months after the Selma to Montgomery marches and just weeks after the passage of the Voting Rights Act of 1965, a group from Martin Luther King Jr.'s staff arrived in Chicago, eager to apply his nonviolent approach to social change in a northern city. Once there, King's Southern Christian Leadership Conference (SCLC) joined the locally based Coordinating Council of Community Organizations (CCCO) to form the Chicago Freedom Movement. The open housing demonstrations they organized eventually resulted in a controversial agreement with Mayor Richard J. Daley and other city leaders, the fallout of which has historically led some to conclude that the movement was largely ineffective. In this important volume, an eminent team of scholars and activists offer an alternative assessment of the Chicago Freedom Movement's impact on race relations and social justice, both in the city and across the nation. Building upon recent works, the contributors reexamine the movement and illuminate its lasting contributions in order to challenge conventional perceptions that have underestimated its impressive legacy.
Author: United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Consumer and Regulatory Affairs Publisher: ISBN: Category : Bank loans Languages : en Pages : 318
Author: Margery Austin Turner
Author: Margery Austin Turner
Author: John M. Goering
Author: Stephen L. Ross
Author: Keeanga-Yamahtta Taylor
Author: Guy Stuart
Author: Rebecca K. Marchiel
Author: Janis Sarra
Author: United States Commission on Civil Rights
Author: Mary Lou Finley
Author: United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Consumer and Regulatory Affairs