The Color of Credit PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download The Color of Credit PDF full book. Access full book title The Color of Credit by Stephen L. Ross. Download full books in PDF and EPUB format.
Author: Stephen L. Ross
Publisher: MIT Press
ISBN: 9780262264334
Category : Business & Economics
Languages : en
Pages : 488
Get Book Here
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: Stephen L. Ross
Publisher: MIT Press
ISBN: 9780262264334
Category : Business & Economics
Languages : en
Pages : 488
Get Book Here
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: Guy Stuart
Publisher: Cornell University Press
ISBN: 9780801440663
Category : Business & Economics
Languages : en
Pages : 284
Get Book Here
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: United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Consumer and Regulatory Affairs
Publisher:
ISBN:
Category : Discrimination in mortgage loans
Languages : en
Pages : 356
Get Book Here
Book Description
Author: Margery Austin Turner
Publisher: DIANE Publishing
ISBN: 0788187945
Category :
Languages : en
Pages : 69
Get Book Here
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: 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
Get Book Here
Book Description
Author: Keeanga-Yamahtta Taylor
Publisher: UNC Press Books
ISBN: 1469653672
Category : History
Languages : en
Pages : 364
Get Book Here
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: United States. Congress. House. Committee on Financial Services
Publisher:
ISBN:
Category : Discrimination in mortgage loans
Languages : en
Pages : 160
Get Book Here
Book Description
Author: Chloe N. Thurston
Publisher: Cambridge University Press
ISBN: 1108390145
Category : Political Science
Languages : en
Pages : 276
Get Book Here
Book Description
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.
Author:
Publisher:
ISBN:
Category : Discrimination in housing
Languages : en
Pages : 20
Get Book Here
Book Description
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 : 312
Get Book Here
Book Description
