Redlining and Disinvestment as a Discriminatory Practice in Residential Mortgage Loans
U.S. Department of Housing and Urban Development, 1977 - Discrimination in mortgage loans - 245 pages
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action Administrative Meeting Affairs affirmative American analysis application areas Association authority Bank Black Bradford California cause Center Chicago Civil Rights Commission community groups conventional Corporation decisions decline Department deposits detailed Development Disclosure discrimination discriminatory discriminatory practices economic effect efforts Equal Opportunity evidence existing factors Fair Housing Federal Home Loan FHLBB foreclosure groups hearings Home Loan Bank Housing and Urban Illinois income indicated individual institutions investment issue July laws lenders lending practices literature Meeting Meeting on Redlining minority mortgage lending neighborhoods Office older organizations patterns Philadelphia policies powers practices present problem programs question race racially changing rates Real Estate Appraisers recommendations Redlining and Disinvestment regulations regulatory agencies representatives require Residential response result risk Savings and Loan standards statement studies supra testimony Title underwriting Volume Washington White witnesses
Page 21 - Government having powers, functions, or duties with respect to housing, shall exercise their powers, functions, and duties under this or any other law, consistently with the national housing policy declared by this Act and in such manner as will facilitate sustained progress in attaining the national housing objective hereby established...
Page 4 - All executive departments and agencies shall administer their programs and activities relating to housing and urban development in a manner affirmatively to further the purposes of this title and shall cooperate with the Secretary to further such purposes.
Page 50 - Areas surrounding a location are investigated to determine whether incompatible racial and social groups are present, for the purpose of making a prediction regarding the probability of the location being invaded by such groups. If a neighborhood is to retain stability, it is necessary the properties shall continue to be occupied by the same social and racial classes.
Page 17 - The use of lending standards which have no economic basis and which are discriminatory in effect is a violation of law even in the absence of an actual intent to discriminate. However, a standard which has a discriminatory effect is not necessarily improper if its use achieves a genuine business need which cannot be achieved by means which are not discriminatory in effect or less discriminatory in effect.
Page 14 - ... the realization as soon as feasible of the goal of a decent home and suitable living environment for every American family...
Page 17 - (a) In order to enable the board to carry out the provisions of this Act, the Treasury Department, the Comptroller of the Currency, the Federal Reserve Board, and...
Page 40 - Most of the variations and differences between people are slight and value declines are, as a result, gradual. But there is one difference in people, namely race, which can result in very rapid decline. Usually such declines can be partially avoided by segregation and this device has always been in common usage in the South where white and Negro populations have been separated.
Page 43 - No matter how attractive a particular neighborhood may be, it will not possess maximum desirability unless it is occupied by people who will be happy in one another's company. Above all, home purchasers who have children want the best advantages they can afford; and this includes desirable neighbors and their children.