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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: Alys I. Cohen
Publisher:
ISBN:
Category : Discrimination in consumer credit
Languages : en
Pages : 548
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Book Description
Author: Deanne Loonin
Publisher:
ISBN:
Category : Consumer credit
Languages : en
Pages : 496
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Book Description
Author: Chloe N. Thurston
Publisher: Cambridge University Press
ISBN: 1108390145
Category : Political Science
Languages : en
Pages : 276
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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: Gerry Azzata
Publisher:
ISBN:
Category : Consumer credit
Languages : en
Pages : 196
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Book Description
Author: Jeremiah Battle
Publisher:
ISBN: 9781602481275
Category : Law
Languages : en
Pages : 502
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Book Description
Author: Felix Chin
Publisher:
ISBN:
Category : Social Science
Languages : en
Pages : 84
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Book Description
Author: Deanne Loonin
Publisher:
ISBN:
Category : Consumer credit
Languages : en
Pages : 432
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Book Description
Author: United States Congress. House. Banking and Currency Committee
Publisher:
ISBN:
Category :
Languages : en
Pages : 1396
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Book Description
Author: United States. Congress. House. Committee on Banking, Currency, and Housing. Subcommittee on Consumer Affairs
Publisher:
ISBN:
Category : Discrimination
Languages : en
Pages : 148
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Book Description
