American Dream Mortgage

In 2000, homeownership in the United States stood at an all-time high of 67.4 percent, but the homeownership rate was more than 50 percent higher for non-Hispanic whites than for blacks or Hispanics. Homeownership is the most common method for wealth accumulation and is viewed as critical for access to the most desirable communities and most comprehensive public services. Homeownership and mortgage lending are linked, of course, as the vast majority of home purchases are made with the help of a mortgage loan. Barriers to obtaining a mortgage represent obstacles to attaining the American dream of owning one's own home. These barriers take on added urgency when they are related to race or ethnicity.In this book Stephen Ross and John Yinger discuss what has been learned about mortgage-lending discrimination in recent years. They re-analyze existing loan-approval and loan-performance data and devise new tests for detecting discrimination in contemporary mortgage markets. They provide an in-depth review of the 1996 Boston Fed Study and its critics, along with new evidence that the minority-white loan-approval disparities in the Boston data represent discrimination, not variation in underwriting standards that can be justified on business grounds. Their analysis also reveals several major weaknesses in the current fair-lending enforcement system, namely, that it entirely overlooks one of the two main types of discrimination (disparate impact), misses many cases of the other main type (disparate treatment), and insulates some discriminating lenders from investigation. Ross and Yinger devise new procedures to overcome these weaknesses and show how the procedures can also be applied todiscrimination in loan-pricing and credit-scoring.

Homeowners who can't borrow from banks have long turned to the subprime lending industry for mortgages. Increasingly, that industry has turned on them by charging outrageous fees and usurious interest, and then taking their homes through foreclosure. Richard Lord explores the spread of predatory lending practices. And it tells the stories of borrowers who've been taken, contractors and brokers who've been co-opted, lenders who've cheated-and the world's biggest financial titans, who've cashed in. A battle is taking shape that could determine whether home ownership for working people will be an achievable dream or an American nightmare. Richard Lord is a writer for the "Pittsburgh City Paper whose work on subprime lending has won numerous awards.

An American Dream - An American Dream is a novel by American writer Norman Mailer. It contains Mailer's message to the American public about reforming the popular idea of the American dream.

The Jacksons: An American Dream - The Jacksons: An American Dream was a five-hour American miniseries broadcast in two parts on ABC. The miniseries was based on the history of the popular soul and pop act The Jackson 5, and covered the history of the The Jackson Family from 1948 (though the show had the timeline starting three years earlier in 1945) to 1984.

The American Dream (play) - The American Dream was one of Edward Albee's early plays about what life was really like in the typical suburban American family. It was first published in 1960.

American Dream (film) - American Dream is a documentary film centered on union meatpacking workers at Hormel Foods in Austin, Minnesota in 1985-1986. Hormel cut the hourly wage from $10.

americandreammortgage

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