News

Jun22

June is National Homeownership Month

By Christopher G. Cox June is National Homeownership Month Potential homebuyers are encouraged to explore incentives during National Homeownership Month. If you’ve been thinking about buying a home, there might be no better time than June, which is annually recognized by such organizations as the United States Department of Agriculture (USDA), United States Department of Continue Reading Learn more

May27

US history explains that white fear is just another way to enforce racial segregation

University students often keep late hours—so it’s unsurprising to see them asleep amidst books and papers in libraries and common rooms. And yet, when a white Yale student saw Lolade Siyonbola, a black graduate student, had drifted off while writing a paper in their dorm’s common room, she assumed something was wrong—and called the police. The Continue Reading Learn more

May24

Large numbers of loan applications get denied. But for blacks, Hispanics and Asians, the rejection rate is even higher.

The Bureau of Consumer Financial Protection found black applicants were rejected at more than double the rate of non-Hispanic white applicants on all types of loans (iStock) By Kenneth R. HarneyMay 23 at 6:30 AMEmail the author For millions of Americans hoping to buy or refinance a home, it’s a crucial make-or-break question: Will the lender Continue Reading Learn more

May21

Earnest money check, down payment and closing costs: When are they due?

Buying a house: 3 steps, 3 payments Buying a home usually occurs in stages: You provide an earnest money check to open escrow (often, when you make an offer on the home) The lender will verify that your down payment comes from an acceptable source You’ll bring your down payment and closing costs (less earnest Continue Reading Learn more

May15

Paving the way to home ownership through collaboration

Photo by Mary McCusker Curtis Johnson, senior housing director for Catholic Charities USA, speaks at the Free Housing and Resource Fair held at Catholic Charities’ Camden office on April 23. The event was sponsored in collaboration with the Southern New Jersey chapter of NAREB (National Association of Real Estate Brokers). Also pictured is James Andrews, Continue Reading Learn more

May14

OP-ED: Racial Mortgage Disparities Persist as Federal Housing Enforcement Lags

 NNPAFREDDIE MAY 9, 2018 Charlene Crowell talks about the role that the Fair Housing Administration played in discriminating against Black homebuyers in the housing market. By Charlene Crowell (Deputy Communications Director, Center for Responsible Lending) In the classic movie film, “Gone with the Wind,” the owner of the Tara plantation admonished his daughter for remarking Continue Reading Learn more

Apr23

Undoing the Dirty Deed: How ‘Whites Only’ Language from Restrictive Housing Covenants Remain on Deeds Across The Country

21st century, discrimination in the housing market against African-Americans remains far from rare. Although the U.S. Department of Housing and Urban Development has reported that the most blatant forms of housing discrimination have declined since 1977, it revealed that home seekers of color are currently told about and shown fewer homes and apartments than whites, a discriminatory practice Continue Reading Learn more

Apr23

Fifty Years Later, Fair Housing Act Recognized as a Factor in Fighting Housing Discrimination

By Christopher G. Cox (Publisher/Managing Editor, realesavvy.com) One of the signature achievements of the Civil Rights Era was the passage by Congress in April of 1968 of the Fair Housing Act (FHA), also known as Title VIII of the Civil Rights Act of 1968. Looking back on this historic legislative accomplishment, Majurial “MJ” Watkins, president Continue Reading Learn more

Apr20

Mortgage Denial Rates Fall, but Racial Gap Persists: Black Applicants Twice as Likely as Whites to be Denied a Conventional Loan

Mortgage Denial Rates Fall, but Racial Gap Persists: Black Applicants Twice as Likely as Whites to be Denied a Conventional Loan SEATTLE/ April 19, 2018 (STLRealEstate.News) — Mortgage applications are denied at the lowest rate in the past 20 years, yet a stark divide remains between potential homebuyers of different racial groups. Nationally, the share Continue Reading Learn more

Apr20

Black applicants twice as likely as whites to get denied for mortgage loans: study

https://therealdeal.com/2018/04/19/black-applicants-twice-as-likely-as-whites-to-get-denied-for-mortgage-loans-study/ A stark racial disparity still exists when it comes to receiving mortgage loans. Although overall mortgage applications are getting denied at their lowest rate in the past 20 years, black applicants are still twice as likely as white applicants to get denied for a conventional loan, according to a new study from Zillow. The overall share of Continue Reading Learn more

Apr15

Blacks Still Face a Red Line on Housing

CreditLinda Huang By The Editorial Board April 14, 2018 For generations of white American families, homeownership has been a fundamental means of accumulating wealth. Their homes have grown in value over time, providing security in retirement and serving as an asset against which they can borrow for education or other purposes. But African-Americans were essentially shut Continue Reading Learn more

Apr11

COMMENTARY – Fair Housing Act: A Milestone on the Journey to Equality

COMMENTARY – Fair Housing Act: A Milestone on the Journey to Equality   By Jeffrey W. Hicks, President, National Association of Real Estate Brokers (NAREB) A half-century ago, the Fair Housing Act was enacted to prohibit discrimination in housing based on race, color, creed and national origin. The law also supported NAREB’s efforts to increase Continue Reading Learn more

Apr10

The ghettoization of black Americans hasn’t been reversed

Housing and Urban Development Secretary Ben Carson testifies on Capitol Hill in March 2018. (Kevin Lamarque/Reuters) By Charles Lane Opinion writer April 9 Email the author Fifty years ago last week, an assassin’s bullet claimed the life of the Rev. Martin Luther King Jr., and Washington, among other cities, erupted in violent protest. Fifty years ago this week, the Continue Reading Learn more

Apr10

Fifty Years After MLK, Cities Must Confront Racial Equity Through Policy

Today, we remember the defining figure of the Civil Rights Era, Rev. Dr. Martin Luther King, Jr. On the fiftieth anniversary of his assassination, leaders and communities across the country are taking the opportunity to reflect on our nation’s history, the progress we’ve made, and how much work we have yet to do. From Ferguson Continue Reading Learn more

Apr10

50 years after Kerner and King, racism still matters

BY DERRICK JOHNSON, OPINION CONTRIBUTOR — 04/04/18 09:30 AM EDT 30 THE VIEWS EXPRESSED BY CONTRIBUTORS ARE THEIR OWN AND NOT THE VIEW OF THE HILL © Getty Images “Segregation and poverty have created in the racial ghetto a destructive environment totally unknown to most white Americans. What white Americans have never fully understood — but what Continue Reading Learn more

Apr10

King died 50 years ago fighting against economic injustice

More than 50 people gathered to honor Martin Luther King Jr.’s legacy of support for worker rights at St. Paul’s Episcopal Church in Concord on Wednesday, April 4, 2018, on the 50th anniversary of King’s assassination. (ELIZABETH FRANTZ / Monitor staff) Elizabeth    By EUGENE SCOTT  The Washington Post Wednesday, April 04, 2018 Fifty years ago Continue Reading Learn more

Apr10

Black homeownership is as low as it was when housing discrimination was legal

By Michelle Singletary April 5 I was scrolling through my Twitter feed and was stopped cold by a tweet about black homeownership rates. The tweet said the gains made since the passage of the Fair Housing Act in 1968 have all been erased. https://www.washingtonpost.com/news/get-there/wp/2018/04/05/black-homeownership-is-as-low-as-it-was-when-housing-discrimination-was-legal/?noredirect=on&utm_term=.09f4025c1206 “We’ve made important progress since 1968, but we can’t claim to have vanquished housing Continue Reading Learn more

Apr03

Here are 10 things the GSEs did to improve access to credit in 2017

  Agency releases annual scorecard on Fannie, Freddie https://www.housingwire.com/articles/42974-fhfa-here-are-10-things-the-gses-did-to-improve-access-to-credit-in-2017 March 29, 2018 Kelsey Ramírez The Federal Housing Finance Agency released its annual progress report summarizing the activities of the GSEs in 2017. As part of the 2014 Strategic Plan for the Conservatorships of Fannie Mae and Freddie Mac, the companies have three requirements they must meet each year. 1. Maintain, Continue Reading Learn more

Apr03

East Bay real estate industry sorely lacks diversity, but there’s ‘light at the end of the tunnel’

By Janis Mara March 30, 2018, 8 a.m. Angelo Raymundo, a residential real estate agent with Red Oak Realty in Oakland, is actively trying to encourage other Asians to enter the field. Photo: Courtesy Angelo Raymundo Steve Peterson regularly brokers multimillion-dollar commercial real estate deals in the Bay Area and Sacramento. He’s the president and CEO of Infinity Continue Reading Learn more

Mar18

Buying a home is easier if you’re white

That’s according to a new study of mortgage approval rates by the online real estate website Zillow. The study found that white people who apply for a conventional mortgage are denied just over 10% of the time. By contrast, blacks who apply for the same loans are denied nearly 28% of the time, while Hispanics Continue Reading Learn more