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Mortgages

Are Nonbank Mortgage Lenders Good For Minority Borrowers?

December 28, 2021 Jessica Goodheart, Capital and Main. , , ,
A loan officer at a mortgage company questions a Black loan applicant about household debts, but subsequently invites a less creditworthy white borrower to fill out an application with “no inquiry about credit standing or debts.” He then offers to walk the same white homebuyer through the loan application and preapproval process and follows up with personal emails. The Black borrower receives neither offers of extra help nor emails from the lender. This unequal treatment played out in Seattle, Washington, and was part of a study in which testers with white and Black-sounding names and similar credit and asset profiles called a random sample of mortgage companies, including Movement Mortgage, seeking loans, according to a complaint filed in October by the National Community Reinvestment Coalition, a Washington, D.C.-based fair housing organization

Record Number Of Mortgage Delinquencies In The United States

August 20, 2020 Hermina Paull, The Deep Dive. , , ,
As many Americans continue to struggle to meet their debt obligations amid the coronavirus pandemic, it appears first-time homeowners have been hit the hardest. According to a recent report by the Mortgage Bankers Association, the second quarter of 2020 saw mortgage delinquencies soar by 8.22%, after increasing 4% from the previous quarter. This is the sharpest jump in the survey’s history, suggesting that the economic effects from the coronavirus pandemic are far from over. The report also found that some homeowners are struggling significantly more than others.

Home Mortgage Delinquencies Rise By 1.6 Million In April

May 22, 2020 By Tal Axelrod, The Hill. , , ,
Delinquencies on home mortgages spiked by a record amount last month as the coronavirus pandemic’s economic fallout continued to explode and government programs began allowing payment delays without punishment. Roughly 3.6 million homeowners were past due on their mortgage in April, a 1.6 million jump from March, according to data from Black Knight. The national delinquency rate nearly doubled to 6.45 percent from 3.06 percent, a record increase. Nevada, New Jersey and New York led all 50 states in delinquency increases as each state saw a rise of roughly 5 percent from March.

More Than 400,000 Demand Congress Freeze All Rent, Mortgage, And Utility Payments

April 1, 2020 Jake Johnson, Commondreams. , , ,
More than 400,000 people have signed a petition calling on Congress to freeze all rent, mortgage, and utility payments nationwide in order to prevent a looming "housing catastrophe" as millions of Americans head into April jobless and unsure whether they will be able to afford their bills. "Millions are wondering how they'll pay their rent or mortgage by tomorrow," said Justin Ruben, co-director of ParentsTogether Action, which organized the petition. "We need additional emergency action suspending rent, mortgage and utility payments for the duration of this crisis." On Tuesday, ParentsTogether released a survey showing that just 38% of parents believe they will be able to make their rent or mortgage payments on Wednesday without cutting back on food, medicine, or other necessities.

From Farm To Table: Protecting Farmworkers From Pesticides

February 22, 2016 Kari Birdseye, www.earthjustice.org , , ,
By Kari Birdseye for Earthjustice - At first, the sticky drops raining down were a welcome reprieve from a long, hot day spent uprooting weeds on a Minnesota farm. "I remember thinking, 'This is cool!' As in, 'This will cool me off,'" said Juan Fernando Rodriguez Tellez. As Tellez and his friends continued to pull at the huge weeds tangled within the cornstalks, they paid little attention to the crop duster flying overhead that was supposed to be dousing a neighboring field. Tellez wore long sleeves and pants for protection against the sun, but as he pulled weeds the drizzle leaked inside the glove on his right hand.

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