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Discrimination motivated by prejudice is contingent on the racial composition of neighborhoods where the loan is sought and the race of the applicant. Lending institutions have been shown to treat black and Latino mortgage applicants differently when buying homes in white neighborhoods than when buying homes in black neighborhoods. [19]
The Equal Credit Opportunity Act of 1974 and Community Reinvestment Act of 1977 helped with discrimination in mortgage lending and lenders' problems with credit needs. [20] The Fair Housing Amendments Act of 1988 was passed to give the federal government the power to enforce the original Fair Housing Act to correct past problems with ...
This practice, also known as mortgage discrimination, began when the federal government and the newly formed Federal Housing Administration allowed the Home Owners' Loan Corporation to create "residential security maps", outlining the level of security for real-estate investments in 239 cities around the United States. On these maps, high-risk ...
The enforcement agencies cited additional evidence of discrimination in Hudson City's broker selection practices, noting that the bank received 80 percent of its mortgage applications from mortgage brokers but that the brokers with whom the bank worked were not located in majority African-American and Hispanic areas.
Legal scholars and practitioners generally discuss laws that affect housing within the context of real property, landlord–tenant law, mortgage law, laws that forbid housing discrimination, laws that attempt to preserve affordable housing, etc. The following is a list of housing-related statutes in different countries.
The terms equal housing lender and equal opportunity lender are synonymous and refer to all banks insured by the Federal Deposit Insurance Corporation in the United States. . Such banks are prohibited from discriminating on the basis of race, color, religion, national origin, sex, handicap, or familial sta
Traditionally used to determine discrimination in housing and mortgage lending, the research methodology involves the use of pairs of testers or mystery shoppers, representing test and control cells. Control cells usually comprise non- protected classes of consumers and test cells comprise protected classes of consumers under the Fair Housing Act .
President Johnson signing the Civil Rights Act of 1968. The Office of Fair Housing and Equal Opportunity was created by the Fair Housing Act of 1968 which sought to end discrimination in the sale, rental, and financing of housing based on race, color, religion, and national origin.