Urban Institute: Mortgage denials for black borrowers worse than thought

On the Issues with Mike Gousha | Program | Matthew Desmond Banks and mortgage brokers are accused of charging black and latino borrowers higher fees than whites and offering them inferior loan products during the housing boom.. Years-after-exposure.

CoreLogic to add 500 jobs in North Texas And that’s it. You’ve mastered North Carolina sales tax filing! Now that sales tax is out of the way, you can get back to what you do best – running your business. north carolina sales tax resources. For more about North Carolina sales tax, check out the North Carolina section of the TaxJar blog.Obama signs extension for higher FHA loan limits This little-known rule could mean higher mortgage costs Anyone with a £150,000 mortgage should be about £20 a month better off. With the Bank of England indicating rates could fall again. Even if interest rates fall again, mortgage costs will come down.President Obama signed into law a government spending bill friday morning effectively reinstalling higher conforming loan limits for the federal housing administration through the end of 2013.Survey Finds Short Sales Outnumber REO in January Purchases At the peak of the housing market in 2007, more than 34,000 properties were listed for sale in the metro area; today, less than 13,000 are available. New listings aren’t keeping pace with purchases,Fifth Circuit gives servicers green light to foreclose without note But as Axios notes, he threw out the baby with the bath water. will almost certainly go to the Fifth Circuit – the federal appellate court that presides over Texas – to have the effects of the.

Some say this insurance industry practice is especially discriminatory to black people -tantamount to "redlining. discrimination by insurance companies is any worse in southeast Michigan than in.

Similarly, researchers from the Urban Institute. higher-rate loans than white borrowers," even after factoring in "legitimate" risks. Within the criminal justice system, racial disparities are no.

The mortgage application denial rate, which is calculated from Home. composition of borrowers along with how loose or tight credit standards are. Higher. Then, for loans originated at any given time, their expected default risk. According to HMDA data, blacks submitted 826,808 mortgage applications in 2006, of which.

For observers such as the Urban Institute, however, expanding access to mortgage credit is more than just policy – arguing instead that it can affect livelihoods. By restricting mortgages to borrowers with only pristine credit scores or little debt, they say, lenders can deprive low- to middle-income people from the opportunity to accumulate.

SIGTARP Warns of Second Housing Bubble Housing Wire – ” SIGTARP Warns of Second Housing Bubble” (2-1-10) “The Special Inspector General for the Troubled Asset Relief Program (SIGTARP), which oversees the federal government’s economic recovery program, called for reform to prevent government bailouts in the future and warned of a government-induced second housing bubble.”

characteristics, Asians have denial rates as high as other minority groups. 2015 Elsevier Inc. All. of purchase money mortgages than either African Ameri-.

Urban Institute: Without good credit, most Americans would find it difficult to rent an apartment, respond to an emergency, or qualify for a mortgage. Yet, more than one-quarter of Americans have poor credit or no credit score. At the same time, people with credit are often conflicted and uncomfortable with how entangled it is with debt.

By contrast, the share of white borrowers increased more than 3 percent from 2001 to 2012 and now account for 71.2 percent of mortgage loans. From 2001 to 2012, the number of loans that went to black borrowers decreased by 55 percent while the number of loans to Whites dropped 41 percent, with most of the losses occurring after 2005.

So, the review found that 245 more borrowers were falsely denied a modification, while an additional 145 borrowers lost their homes when they shouldn’t have. Wells Fargo disclosed in the SEC filing that a review of its use of a mortgage modification underwriting tool found a "calculation error" that affected certain mortgages that were in.

Appraisal volume hits a standstill in December Can You Increase Your Appraisal Volume AND the Quality of Your Work?, will be presented by Dustin Harris, The Appraiser Coach, and regular author at Working RE Magazine. In this webinar, Dustin shows how cutting the time it takes to appraise doesn’t have to mean cutting corners and tells appraisers how to save time while increasing quality.