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Author: Stephen L. Ross
Publisher: MIT Press
ISBN: 9780262264334
Category : Business & Economics
Languages : en
Pages : 488
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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
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: Josh Lauer
Publisher: Columbia University Press
ISBN: 0231544626
Category : History
Languages : en
Pages : 393
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Book Description
The first consumer credit bureaus appeared in the 1870s and quickly amassed huge archives of deeply personal information. Today, the three leading credit bureaus are among the most powerful institutions in modern life—yet we know almost nothing about them. Experian, Equifax, and TransUnion are multi-billion-dollar corporations that track our movements, spending behavior, and financial status. This data is used to predict our riskiness as borrowers and to judge our trustworthiness and value in a broad array of contexts, from insurance and marketing to employment and housing. In Creditworthy, the first comprehensive history of this crucial American institution, Josh Lauer explores the evolution of credit reporting from its nineteenth-century origins to the rise of the modern consumer data industry. By revealing the sophistication of early credit reporting networks, Creditworthy highlights the leading role that commercial surveillance has played—ahead of state surveillance systems—in monitoring the economic lives of Americans. Lauer charts how credit reporting grew from an industry that relied on personal knowledge of consumers to one that employs sophisticated algorithms to determine a person's trustworthiness. Ultimately, Lauer argues that by converting individual reputations into brief written reports—and, later, credit ratings and credit scores—credit bureaus did something more profound: they invented the modern concept of financial identity. Creditworthy reminds us that creditworthiness is never just about economic "facts." It is fundamentally concerned with—and determines—our social standing as an honest, reliable, profit-generating person.
Author: Andrew Clements
Publisher: Simon and Schuster
ISBN: 141699520X
Category : Juvenile Fiction
Languages : en
Pages : 146
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Book Description
It isn’t that Abby Carson can’t do her schoolwork. She just doesn’t like doing it. And in February a warning letter arrives at her home. Abby will have to repeat sixth grade—unless she meets some specific conditions, including taking on an extra-credit project to find a pen pal in a distant country. Seems simple enough. But when Abby’s first letter arrives at a small school in Afghanistan, the village elders agree that any letters going back to America must be written well. In English. And the only qualified student is a boy, Sadeed Bayat. Except in this village, it is not proper for a boy to correspond with a girl. So Sadeed’s younger sister will write the letters. Except she knows hardly any English. So Sadeed must write the letters. For his sister to sign. But what about the villagers who believe that girls should not be anywhere near a school? And what about those who believe that any contact with Americans is . . . unhealthy? Not so simple. But as letters flow back and forth—between the prairies of Illinois and the mountains of central Asia, across cultural and religious divides, through the minefields of different lifestyles and traditions—a small group of children begin to speak and listen to one another. And in just a few short weeks, they make important discoveries about their communities, about their world, and most of all, about themselves.
Author: Anthony Davenport
Publisher: Houghton Mifflin Harcourt
ISBN: 1328694658
Category : Business & Economics
Languages : en
Pages : 238
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Book Description
“Does a phenomenal job of pulling back the curtain and giving you a first-hand peek inside the hidden, often frustrating, world of credit scoring.”—Lynnette Khalfani-Cox, New York Times bestselling author ofZero Debt A healthy credit score is essential for a healthy financial life. But the precise mechanisms used to determine our credit scores are shrouded in mystery. Consumers aren’t usually told how their score is being used by all kinds of companies and banks to dictate financial terms that will strongly affect their daily lives. So when consumers interact with the world of credit, they do so from a position of weakness. With this revelatory guide, Anthony Davenport aims to change that. Finally, here is a consumer-friendly road map for understanding and navigating the secretive world of consumer credit. Davenport reveals where your credit score comes from, how to improve, maintain, or rescue it, and how to avoid hidden credit pitfalls. Your Score is an accessible manual designed to help you take control of your credit score and better navigate all the important financial decisions in your life. “Anthony Davenport not only understands credit, but truly believes everyone should be empowered to understand it for themselves. You won’t find this level of honest information anywhere else.”—Tiki Barber, cohost of Tiki & Tierney and former NFL running back “This is a masterful work . . . The time it takes to read this book will produce extraordinary returns.”—Mark Gerson, chairman, Gerson Lehrman Group “Davenport offers a handy, one-stop guide to understanding—and fixing—your credit score . . . A clearheaded, must-read guide for anyone looking to decode the most influential number of them all.”—Publishers Weekly
Author: Thomas A. Durkin
Publisher: Financial Management Associati
ISBN: 0195169921
Category : Business & Economics
Languages : en
Pages : 737
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Book Description
This article provides an introduction to a law review symposium by the Journal of Law, Economics, and Policy on our book (co-authored with Michael E. Staten), Consumer Credit and the American Economy (Oxford 2014). The conference, held November 2014, collects several articles responding to and building on the research agenda laid out by our book. For those who have not read the book, this article is intended to summarize several of the main themes of the book, including discussion of economic models of consumer credit usage, trends in consumer credit usage over time, the use of high-cost credit, and behavioral economics.
Author: Justin Pritchard
Publisher: Simon and Schuster
ISBN: 1605502812
Category : Business & Economics
Languages : en
Pages : 304
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Book Description
A Simon & Schuster eBook. Simon & Schuster has a great book for every reader.
Author: Gudrun M. Nickel
Publisher: Sphinx Publishing
ISBN: 9781572485730
Category : Business & Economics
Languages : en
Pages : 292
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Book Description
Anyone with credit problems can solve them and repair any damage if they have the right tools and take the right actions. The Credit Repair Answer Book explains that dealing with credit problems is a combination of understanding what credit is and is not; understanding what one's credit rights are; understanding to what extent a creditor can go to collect a debt; and, understanding what to do if an invalid or illegal action is taken by creditors in the collection process. A section on the most frequently asked questions with extensive answers helps the reader quickly grasp the value of good credit and know how to ensure that credit errors or potential credit problems do not affect your credit rating in the long term. The Credit Repair Answer Book can get anyone back on the right track and turn their financial situation around.
Author: Sara T. Damiano
Publisher: JHU Press
ISBN: 1421440563
Category : History
Languages : en
Pages : 311
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Book Description
A transformative look at colonial women's pivotal roles as lenders and debtors in shaping the economic and legal systems of Newport and Boston. Winner of the Berkshire Women Historians Book Prize by the Berkshire Conference of Women Historians In colonial Boston and Newport, personal credit relationships were a cornerstone of economic networks. During the eighteenth century, the pace of market exchange quickened and debt cases swelled the dockets of county courts, institutions that became ever more central to enforcing financial obligations. At the same time, seafaring and military service drew men away from home, some never to return. The absences of male household heads during this era of economic transition forced New Englanders to evaluate a pressing question: Who would establish and manage consequential financial relationships? In To Her Credit, Sara T. Damiano uncovers free women's centrality to the interrelated worlds of eighteenth-century finance and law. Focusing on everyday life in Boston, Massachusetts, and Newport, Rhode Island—two of the busiest port cities of this period—Damiano argues that colonial women's skilled labor actively facilitated the growth of Atlantic ports and their legal systems. Mining vast troves of court records, Damiano reveals that married and unmarried women of all social classes forged new paths through the complexities of credit and debt, stabilizing credit networks amid demographic and economic turmoil. In turn, urban women mobilized sophisticated skills and strategies as borrowers, lenders, litigants, and witnesses. Highlighting the often-unrecognized malleability of early American social hierarchies, the book shows how indebtedness intensified women's vulnerability, while acting as creditors, clients, or witnesses enabled women to exercise significant power over men. Yet by the late eighteenth century, class differentiation began to mark finance and the law as masculine realms, obscuring women's contributions to the very institutions they helped to create. The first book to systematically reconstruct the centrality of women's labor to eighteenth-century personal credit relationships, To Her Credit will be an eye-opening work for economic historians, legal historians, and anyone interested in the early history of New England.
Author: Xiang Gao
Publisher: Kluwer Law International B.V.
ISBN: 9041198989
Category : Law
Languages : en
Pages : 222
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Book Description
"Dr. Gao finds the best provisions and practices in respect of the fraud rule in the United States, the United Kingdom, Canada, and Australia, and applies these standards to the reformulation of the fraud rule in the PRC. In the process be surveys the entire field of the fraud rule in the law of letters of credit in its substantive aspects, thus going deeper than mere banking law analyses and revealing, for the benefit of jurists everywhere, the fundamental legal issues that must underlie all sound judicial reasoning in the area. In more practical terms, this approach also allows judges to meet their essential responsibility - that of giving an answer when a case is put before them - with the widest and best possible degree of discernment."--BOOK JACKET.
Author: Mark Kennedy
Publisher:
ISBN: 9781468089516
Category : Consumer credit
Languages : en
Pages : 213
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Book Description
