Posted on 05/13/2015 1:40:44 PM PDT by Citizen Zed
A national fair housing organization has filed a complaint with the U.S. Department of Housing and Urban Development, charging that Fannie Mae is not properly caring for and marketing foreclosed homes it owns in nonwhite communities.
The National Fair Housing Alliance alleges Fannie Mae violated the federal Fair Housing Act in nonwhite, working-class communities in the Chicago area as well as in 33 other metropolitan areas. Nineteen fair housing groups in various cities, including three in the Chicago area, joined the alliance in the complaint against Fannie Mae.
"Fannie has more foreclosures in the United States than anybody else," said Shanna Smith, the alliance's president and CEO. "Fannie controls the market. Fannie controls the buying market for home purchases and wielding that kind of power requires responsibility."
Inspections during the past five years of more than 2,100 foreclosed properties owned by Fannie Mae showed a widespread pattern of neglect in nonwhite communities that included homes with broken or damaged windows and doors, safety hazards, overgrown lawns and accumulated trash, according to the complaint. It found, for instance, that almost 24 percent of properties in nonwhite communities had unsecured, broken or boarded doors, while that problem was present in 11.6 percent of properties in white communities.
Fannie Mae disputed the charges.
"We strongly disagree with these allegations and firmly believe they have no merit," spokesman Andrew Wilson wrote in an email. "We are confident that our standards ensure that properties in all neighborhoods are treated equally, and we perform rigorous quality control to make sure that is the case. We remain dedicated to neighborhood stabilization efforts across the nation, including with respect to our maintenance of foreclosed properties."
(Excerpt) Read more at my.chicagotribune.com ...
I think if they keep replacing the AC units, HW heaters, and copper wiring, they’d find it very much like Home Depot having a big sale.
Maybe the theft and violence level of those areas posed a big risk.
Easy solution - stop lending to people that can’t afford houses and don’t have 20% down and a steady job.
Oh wait - that would be discriminatory to minorities too!
No way to win with the liberals...
Why can’t they go back to how one had to have 20 or 15% down first?
That way it would show the loaner that the people were serious and they can afford the house.
And in what percentage of these houses was this the case LONG BEFORE foreclosure?
The concept of not throwing good money after bad has a lot more merit than many would like to admit.
Cars parked in the inner city tend to be less well cared for than those in the suburbs. More flat tires, rust, and broken windshield than those in white neighborhoods.
Has to be racism on the part of Auto Mechanics.
Gee, wonder why?? Must be raccccccccccccccccccccccccccims.
Pray America is waking
Had they been doing their jobs properly, many of those houses in question would not *BE* on the foreclosure list.
This is another thing that can be blamed on Bill Clinton and further back Jimmy Carter. If Carter hadn't created the Community Reinvestment Act, and if Bill Clinton hadn't insisted taking action on the racial disparities the act deliberately tabulated, then none of this would have happened in the first place.
People who couldn't afford mortgages wouldn't have gotten them, the financial collapse of 2008 wouldn't have happened, and probably stupid Barack wouldn't be President.
Jimmy Carter: A President so stupid his idiocy can reach out of the past and continue screwing things up in the present.
Sure, we can do that right after we make the Democrat Party illegal, because that's who did it.
Who would want one of them?
Creating a mortgage contract in a neighborhood of thieves, druggies and feral youth. What could go wrong?
This works really well with public housing in Japan and, over time, they will encourage you to take over ownership.
The complicated stuff like roofing, doors, windows, electrical and plumbing is done and people convert over the rest over time. Rent increases if certain jobs aren't done over a certain time frame and, if you decide to have someone else do them, you can opt out of the lower payments and get them done sooner.
What’s the likelihood? That Fannie Mae 6 years into the Obama thing, is discriminating against non whites?
Zero zilch nada.
..by order from the White Hut no doubt
Its nothing a $1 million donation to Al Sharpton or ACORN won’t fix.
those sorts of agreements made both sides rich in the past.
They did their jobs "properly" as defined by their political overlords.
I believe there is another round of foreclosures just around the corner. There are three that popped up in my neighborhood in the past few months.
‘Twould seem logical.
Do we need reasons?
The real question is how did “non” white communities come to be? Was someone discriminating against white buyers?
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