Study Finds Foreclosure Crisis Had Significant Racial Dimensions

StephenF at 11:15 2010-10-05 said:

The authors argue that residential segregation created a unique niche of minority clients who were differentially marketed risky subprime loans that were in great demand for use in mortgage-backed securities that could be sold on secondary markets.

Translation: Those who utilized LendingTree,LowerMy Bills etc or worked for Ameriquest, Ditech, Quicken, Full Spectrum(and many more) simply adjusted their filters to seek and solicit a certain credit criteria and then offered a loan that the borrower fit into. If a borrower fit a loan and accepted the terms, I am not sure that cries racism. Stupidity maybe, racism not so sure. Maybe this is just another indictment of our horrible politically correct school system???

There is no racism here. Simply profits; greed & profits. Originators come and all shapes, sizes, creeds, races & colors for that matter gender too. I would argue that the greedy couldn't careless who they were taking advantage of; black, white, woman it was all about the green.

I question the timing of this article, I find it very ironic that it is rolled out so near the coming elections. I smell agenda here. The question is how does Frank & Dodd play into the racist claims as they are the D's who were running the show? Permalink