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84935612163
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We regard acts as discriminatory if they violate relevant provisions of the Equal Credit Opportunity Act or the Fair Housing Act (Title VIII of the Civil Rights Act of 1968). A lender in violation of fair lending laws would also fail to meet its obligations under the Community Reinvestment Act (CRA). We include home appraisals as part of the mortgage lending market. There are a host of other federal laws, two Executive Orders, and many state and local laws which prohibit or relate to discrimination in mortgage lending.
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6
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0037500791
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The Use of Testers in Investigating Mortgage Lending and Insurance Discrimination
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M., Fix, R., Stuyk, Urban Institute, Washington, DC, All are reviewed in more detail in
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(1993)
Clear and Convincing Evidence
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Galster, G.1
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8
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84972962477
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Discrimination in Urban Credit Markets: What We Don’t Know and Why We Don’t Know It
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(1992)
Housing Policy Debate
, vol.3
, pp. 217-240
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Wienk, R.1
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10
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84935637295
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B. Dedman, “The Color of Money,”The Atlanta Journal Constitution, May 1-4, 1988. See also T. Blossom, D. Everett, and J. Gallagher 1988, “The Race for Money,”Detroit Free Press, (Aug. 12,1988).
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14
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84965395460
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A Theoretical Framework for Econometrically Analyzing Mortgage Lending Activity in Census Tracts
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(1992)
Urban Affairs Review
, vol.28
, pp. 146-155
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Galster, G.1
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19
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84935673080
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G. Galster, “A Statistical Perspective… “; J. La Ware, “Testimony Before Committee on Banks of the NY State Assembly, Albany, NY,”Federal Reserve Bulletin 78 (1992): 193–195.
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20
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84935671099
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Alicia Munnell, Lynn Browne, James McEneaney, and Geoffrey Tootell, Mortgage Lending in Boston: Interpreting HMDA Data Federal Reserve Bank of Boston Working Paper 92-7, (1992).
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84935624689
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Federal Reserve Governor John La Ware, quoted by Paul Wiseman, “Bankers Grumpy Despite Strong Profits,”USA Today, (Oct. 19,1992), p. 6B.
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23
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84935673686
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G. Canner and S. Gabriel, “Market Segmentation and Lender Specialization…”
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84935655880
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” Race, Default Risk…”
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84935642230
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M. Turner, R. Struyk, and J. Yinger, The Housing Discrimination Study.
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84935672602
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Laufman v. Oakley Building & Loan Company, 408 F. Supp. 489 (S.D. Ohio 1976), and Harrison v. Otto G. Heinzeroth Mortgage Co., 414 F. Supp. 66 (N.D. Ohio, 1976), supplemented, 430 F. Supp. 893 (N.D., Ohio 1977).
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27
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84935630042
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Standards for establishing a prima facie case based on the race of the applicant were identified in Thomas v. First Federal Savings Bank of Indiana, 653 F. Supp. 1330, 1338 (N.D. Ind. 1987). The standards are: (1) the applicant is a member of a protected class; (2) the applicant applied for and was qualified for a loan from the lender; (3) the loan was rejected despite the applicant’s qualifications; and (4) the lender continued to approve loans for applicants with qualifications similar to the applicant.
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28
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84935675017
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Leonard McMillian et al. v. Huntington National Bank et ai, No. 85-7530 (N.D. Ohio May 24,1985).
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84935613826
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576 F. Supp. 1100 (N.D. Ohio 1987).
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No. 91 C 7730 (N.D. 111. December 8, 1992).
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The Green’s case was the subject of a Frontline documentary produced by The Center for Investigative Reporting, “Your Loan is Denied,” which aired on PBS on June 23, 1992.
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84935651458
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U.S. Department of Justice news release, “Dept. of Justice Settles First Race Discrimination Lawsuit Against Major Home Mortgage Lender,” Sept. 17,1992. See also United States of America v. Decatur Federal Savings and Loan Association, No. 92-CV-2198-CAM (N.D. GA filed Sept. 17,1992).
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84935642709
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We chose these case histories because they are particularly revealing and powerful; they do not represent the complete set of possible cases. For additional illustrations, see: “Redlining,”The Economist, (July 22, 1989), pp. 23–24; Daniel Seligman, “Mortgage Moonshine,”Fortune, (Dec. 2,1991), pp. 183–184; Joel Brenner and Liz Spayd, “A Pattern of Bias in Mortgage Loans,”Washington Post, (June 6, 1993), pp. Al, A24–A25; idem, “Area Banks Have Worst Bank Access,”Washington Post (June 7,1993), p. Al, A8.; idem, “Bankers Describe Roots of Bias,”Washington Post (June 8,1993), pp. Al, A10.
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34
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84935640682
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Testimony submitted by Donald Martin, Association of Community Organizations for Reform Now, Washington, DC Chapter, on Mortgage Lending Discrimination Before The Subcommittee on Housing and Community Development of the Committee on Banking, Finance, and Urban Affairs, U.S. House of Representatives, (May 7, 1992).
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“ L.A. Riots and the Black Tax,”The Wall Street Journal (May 12, 1992), p. A24.
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R. Wienk, “Discrimination in Urban Credit Markets…”
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84935634051
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A suit was settled against United Guaranty Residential Insurance Company which had the result of eliminating a minimum loan amount for private mortgage insurance (PMI) coverage, Briceno v. United Guaranty Residential Insurance Co., No. 3:89 CV 7325 (N.D. Ohio). The case alleged that such a standard imposed a needless adverse impact upon minorities, who were most likely to seek the smaller mortgages and to need PMI.
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