Protecting Fair Lending Is Key To Our Economic Recovery (mydd)
Most Americans correctly understand that the economic meltdown was caused by a
perfect storm of misconduct in the lending and financial industries and
inadequate rules and enforcement. A 2010 Pew Financial Reform Project poll,
for example, found that American likely voters overwhelmingly blamed banks for
making unsustainable mortgages (42%) and too little regulation of Wall Street
(24%) for the crisis.
Fewer are aware, however, of the role that racial bias and discrimination by
lenders and brokers played in creating the crisis. Understanding that role
and the tools available to correct it is key to ensuring our nation’s full
economic recovery.
Despite the progress we’ve made as a nation toward the goal of equal
opportunity for all, significant barriers remain, especially when it comes to
mortgage lending by banks and brokers. In a 2005 report using federal data
that presaged the current crisis, for example, The Opportunity Agenda, the
National Community Reinvestment Coalition, and the Poverty and Race Research
Action Council warned that-even controlling for income-African-American and
Latino borrowers were significantly more likely to be sold high cost, subprime
loans than whites, despite the fact that as many as 50% of those borrowers
qualified for prime loans. Racial inequity in lending actually …
Mortgage Interest Rates: Best mortgage rates in HISTORY! April 2009
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Chain of Blame: How Wall Street Caused the Mortgage and Credit Crisis $3.33 An updated and revised look at the truth behind America’s housing and mortgage bubblesIn the summer of 2007, the subprime empire that Wall Street had built all came crashing down. On average, fifty lenders a month were going bust-and the people responsible for the crisis included not just unregulated loan brokers and con artists, but also investment bankers and home loan institutions traditionally… |
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A History of Interest Rates: Third Edition, Revised $40.00 A History of Interest Rates presents a very readable account of interest rate trends and lending practices over four millennia of economic history. Despite the paucity of data prior to the Industrial Revolution, authors Homer and Sylla provide a highly detailed analysis of money markets and borrowing practices in major economies. Underlying the analysis is their assertion that “the free market lon… |
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It’s Not about Rate : The Right Way to Get A Mortgage $12.63 No Synopsis Available |
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Mortgage Secrets : 6 Steps to the Lowest Rate and Closing Costs… Guaranteed $19.45 No Synopsis Available |
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