Tag: Minorities

  • Wells Fargo to Pay $175 Million to Settle Case of Race Discrimination in Mortgage Lending

    Wells Fargo Settles Racial Discrimination Lawsuit

    Wells Fargo & Co has agreed to pay $125 million to resolve allegations it discriminated against certain borrowers on the basis of race and national origin in its mortgage lending, the U.S. government said on Thursday. Continue Reading

  • New Down Payment Rules May Be Discriminatory

    New Down Payment Rules May Be Discriminatory

    Ready to cough up a higher down payment to buy a home? Mortgage financing availability was cited as the single-greatest factor prohibiting people of color from fulfilling dreams of homeownership, according to a March survey of multicultural real estate professionals -- some of whom say policy makers need to do... Continue Reading

  • The New Face of Housing Discrimination

    The New Face of Housing Discrimination

    Not long after University of Chicago systems administrator Vanessa Matthews, 49, separated from her husband, she experienced grave economic hardship. Not only did she lose her estranged husband's income, which had helped pay the $2,539 mortgage payment on the couple's duplex in the Bronzeville neighborhood of... Continue Reading

  • Renters With Pets Hail 'Fluffy's Law'

    Renters With Pets Hail 'Fluffy's Law'

    Our nation's foreclosure crisis has left an estimated 1 million dogs and cats abandoned, according to the American Society for the Prevention of Cruelty to Animals. Many pets lose their homes and human families when owners can't find an apartment that accepts pets. Enter, "Fluffy's Law." Our neighbors to the... Continue Reading

  • The Incredible Shrinking Home-ownership Rate

    The Incredible Shrinking Home-ownership Rate

    Think time travel is impossible? Then explain how we've moved the clock back to 2003. The latest Census stats on homeownership show that just 67 percent of U.S. households own their home, down from a peak of 69 percent in 2007. That brings the share of homeowners back down to its level seven years ago. The... Continue Reading

  • Minorities Lose In Housing Crisis

    Minorities Lose In Housing Crisis

    The housing crisis has affected many Americans, but, not surprisingly, some groups have been more vulnerable than others. That uneven state of affairs was predicted in 2008 by the Institute for Southern Studies, which featured on its website a number of items under the heading: "The housing crisis: An assault... Continue Reading

  • U.S. Cracks Down on

    U.S. Cracks Down on "Reverse Redlining"

    In all the fallout from the housing crisis, few groups have suffered as much as blacks and minorities, who were saddling with risky subprime loans at rates far higher the whites with the same incomes or credit scores. Yesterday, the Civil Rights Division of the U.S. Department of Justice announced that it's... Continue Reading