The reporting reflects what so many of us already know: poc are systematically denied conventional mortgages. Difference here is that the conclusion is based on 31 MILLION RECORDS analyzed over one year by @eman_thedataman and @Aaron_Glantz (who you should be following).
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What does modern-day redlining look like where you live? Where you grew up? Where you work? Punch an address into this map and see how this plays out, block-by-block: http://apps.revealnews.org/redlining/
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You can also text LOAN to 202-873-8325 to search for how lending disparities play out where you live....
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Y si lo preferís en español, podes enviar PRÉSTAMO al 202-873-8325 para saber más sobre las disparidades de préstamos en el lugar donde vivís.
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“What’s in your wallet?” Welp, if you’re black and/or latinx, probably not a mortgage. More great reporting here on modern-day redlining (shoutout to
@jennifergollan who worked on this!)https://www.revealnews.org/article/8-lenders-that-arent-serving-people-of-color-for-home-loans/ …Show this thread
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I wondered why the refine agent insisted on meeting me in person a few years back. Last year I got a check as part of a settlement because they were charging non-whites higher rates
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I sure got the run around when I tried to buy a home in SLO County in CA...the bank tried to force me to insure the home up to the cost of the note (as opposed to the cost to rebuild which is illegal)...and it was a VHA loan.
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If you get a chance, text LOAN to 202-873-8325 to see how your experience matches up with my colleagues found...
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I filed a complaint with CFPB and a state agency. I still have the emails of when the loan processor was adamant...even when I cited her the CA Code that explcitly forbids that...I even had my insurance company
@USAA call her...
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The problem here is this is what caused the housing burst years ago. Because of this type of idea people that couldn't afford loans were given them to be racially fair. Lenders want to make money. They study risk not color. But let's do it all over again :(
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HMMM ? ...
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here we go again ...
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