The National Community Reinvestment Coalition released a report last month ranking communities on how they lend--essentially fair or not fair. The report found that a number of communities still discriminate in lending by making higher cost loans to minorities despite their income. Middle to upper income African Americans are twice as likely as middle to upper income whites to receive high-cost loans in 71.4 percent of the metro areas examined in the study. It is not a good thing to be on that top 20 list. The five metro areas where where blacks are most likely to get a high-cost loan are: Greenville, NC, Durham, NC, Raleigh-Cary, NC, Madison, WI, and Milwaukee-Waukesha-West Allis, WI. I would say North Carolina has some work to do. They have a great person in Martin Eakes fighting for fair housing there you can count on change.
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August 28, 2008
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What I'm reading
- Suzanne W. Morse: Smart Communities: How Citizens and Local Leaders Can Create a Brighter Future-Second Edition
Victor K. Fung: Competing in a Flat World: Building Enterprises for a Borderless World
Michael H. Shuman: Going Local: Creating Self-Reliant Communities in a Global Age
January 2017
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The National Community Reinvestment Coalition (NCRC) is an association of more than 600 community-based organizations that promote access to basic banking services, including credit and savings, to create and sustain affordable housing, job development and vibrant communities for America’s working families.
Thank you for posting......... Its really worth to read the article of yours......
Posted by: Stuart Pike | September 04, 2008 at 03:03 AM
Great Post! With todays economic environment is difficult to obtain loans, and is not really based on rates but on the financial institutions willingness to lend. Unfortunatelly with today's credit environment loans that were given just on basis of a good credit score and earnings history (business loans for start ups) are hard to get particularly if you have bad credit.
http://gewdir.com the bad credit Loan blog
Posted by: David | September 21, 2008 at 08:36 PM