NAACP Subprime Discrimination Suit

re: NAACP Subprime Discrimination Suit

Adrian N — Fri, 13 Mar 2009 22:31:30 GMT

What a joke. A study by "the National Community Reinvestment Coalition " ??? Are you joking? Might as well be the rainbow coalition or ACORN or the NAACP itself... pick whichever left-wing wacko organization you like.

RE:NAACP Subprime Discrimination Suit

Dee — Tue, 21 Aug 2007 11:00:00 GMT

The facts of this case will speak for itself. Minorities, in particular blacks, have historically been denied, or if allowed always paid more for certian goods and services and the mortgage business is no different. To the poster who implied that black loan officers are the ones responsible for charging higher rates and fees to black customers, that is simply an ignorant comment.

RE:NAACP Subprime Discrimination Suit

WD — Fri, 17 Aug 2007 11:00:00 GMT

Some lenders are crooks, some people have bad credit some people want all the money they can get or more than they can afford and say get me the loan that will give me the most money and then they sign for the loan accepting the terms, spend the money and then cry I was screwed! they are correct they screwed themself! If you signed for the loan with out going somewhere else and checking with another lender or another loan officer its your fault. Sue yourself for your ignorance, you did it.

RE:NAACP Subprime Discrimination Suit

Wallace Cooke Jr. — Tue, 14 Aug 2007 11:00:00 GMT

you are on the right track keep moving forward it about time black,s starting following the money. what took so dam long?slavery&racism is all about money.

RE:NAACP Subprime Discrimination Suit

Anonymous — Thu, 09 Aug 2007 11:00:00 GMT

I was an Investment Broker for 7 years and decided to go to the mortgage side, I was astonished by the lack of respect and no fudicial concern about the loans being written, the AE, LO, Mangers, first question is always how much do you want to make, and the process starts from there and then you figured out how to make it work. The entire industry from Wall Street on down had this mentality. I held on to mine.

RE:NAACP Subprime Discrimination Suit

Eliane — Wed, 08 Aug 2007 11:00:00 GMT

Again, those of you whom are fortunate to not have been discriminated against just will never ever get it...People of any race know when they are being treated differently. Wake up everybody...racisim is alive and kicking in American and other countries if you don't believe it that's your opinion. Also to the person stating that black 90% of black people have bad credit is bull...you are a racist. Have you met every black person in the world....lol...not try walking in their shoes.

RE:NAACP Subprime Discrimination Suit

Douglas — Thu, 02 Aug 2007 11:00:00 GMT

READ THE REPORT ("Income is No Shield Against Racial Differences in Lending"). The point is that with GOOD INCOME AND CREDIT, "minorities are, in fact, receiving a disproportionately large amount of high-cost loans" AND that, "this study demonstrates that high-cost lending is disproportionately targeted to minorities, even middle- and upper-income minorities." This is not because minorities are lazy deadbeats, it's due to systematic bias. The difference is NOT income or credit, it's SKIN COLOR.

RE:NAACP Subprime Discrimination Suit

Mortgage Adult — Wed, 01 Aug 2007 11:00:00 GMT

What is going to happen when say Countrywide announces they have a huge default problem.....as their Option Arms, begin to mature.....thank god the indexes have slowed this year their upward spiral....WaMU, World, BofA, IndyMac, and many more will join Countrywide this year in higher then expected losses from Option Arms now dont you think......? People since greed called the shots now regulation will be the answer... people will have to work for loans and home sales quit pointing fingers...

RE:NAACP Subprime Discrimination Suit

Mortgage Adult — Wed, 01 Aug 2007 11:00:00 GMT

Predatory Lending ? All loans have an intended audience or customer. If your DTI is too high, maybe you should have gone to your bank first and figured out with them or yourself on many websites " With my current finances what can I really afford? Am I ready to purchase?" Instead they go to an Open House get mixed up with a realtor, who wants a sale not a referral...and their " In House Lender"....or My buddy the broker. Folks the definition of a Real Estate transaction is Arms Length....period

RE:NAACP Subprime Discrimination Suit

Mortgage Adult — Wed, 01 Aug 2007 11:00:00 GMT

and finally Racism....yep we have blacks rippin off blacks, whites doin whites, hispanics hittin their race... on and on.....Greed and blind trust.....or laziness. Terrible combo....NAACP how about going into High Schools and teaching "Life Finances 101" We dont need law suits we need financially savvy educated youth.... Why not co-sponsor that with these banks.....? Ah too easy yah I forgot if you fix the problem...who needs you guys?

RE:NAACP Subprime Discrimination Suit

Mortgage Adult — Wed, 01 Aug 2007 11:00:00 GMT

Realtors with in house lenders.....bye bye. That gray area you all played in.....gone sooner then we thought......and folks look at that list of lenders.....there is only one who never originated an Option Arm....One who stayed away and saw this day coming....we havent even scratched the surface of the meltdown folks....have we? Well maybe the first chink in the armour has been the quiet deline of WaMu from powerhouse to losing $1 billion and laying off 10000 in 2005?

RE:NAACP Subprime Discrimination Suit

Kim — Tue, 31 Jul 2007 11:00:00 GMT

It amazes me how fired up people become when racism is discussed, it also amazes me how people cloud the real issue at hand. The issue is not the minorities with bad credit, THE ISSUE AT HAND IS THOSE WHO HAVE GOOD CREDIT AND SEEM TO GET HIGHER INTEREST RATES THAN WHITES. HELLO!!! STAY FOCUSED PEOPLE.

RE:NAACP Subprime Discrimination Suit

Travis — Sun, 29 Jul 2007 11:00:00 GMT

I wonder, what is the credit rating of the NAACP? - the rest of the story? Speaking of facts, unfortunalty blacks have a high loan default rate and are one of the largest contributing groups to the subpime foreclosure fallout. I suggest the NAACP could actually do some good if they would use their time educating blacks about maintaining good credit, building reserves, and living within a budget, a few habits everyone, regardless of race, needs to develop. Get a life, be happy, and help someone.

RE:NAACP Subprime Discrimination Suit

Marcus — Thu, 26 Jul 2007 11:00:00 GMT

There will always be racists and unethical people in the world. I don't think that the government or the NAACP can do a thing about it. Now that we know there are racists and unethical people in the mortgage loan industry, we all should take responsibility for protecting ourselves.

RE:NAACP Subprime Discrimination Suit

Zina — Wed, 25 Jul 2007 11:00:00 GMT

The fact is Racism is still alive and well in America, and Africans Americans experience it daily in all areas of life, I am a mortgage origintor in Mississippi and I have seen it up close and personal.yes we have lower credit scores but we make less money and do not receive the same opportunties to advance, in desperation a lot of us except less, White America refuses to acknowledge this, so African Americans should continue to bring it into the open. I salute the NAACP.