``The amicus brief argues that the form of the opposition threatened by the securitization industry would amount to illegal redlining and would violate federal and state fair housing and fair lending laws, including the federal Fair Housing Act.  Attorneys for the coalition say this argument is based on an announcement made last summer by the Securities Industries and Financial Markets Association (SIFMA) that it would block any future mortgages made in Richmond from being accepted in the most desirable part of the secondary market for mortgage-backed securities (MBS). Richmond is 40% Hispanic and 25% African-American, and the fair housing and civil rights groups argue that the SIFMA plan would therefore have a disparate impact on minority borrowers.''

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