Posted on 05/05/2018 1:24:31 PM PDT by E. Pluribus Unum
The CRA lives, and NPR was incensed that it was not being obeyed.
As a side note, I am selling my deceased mother’s home which she refinanced (a 1st and 2nd mortgate into one) in 2011 with Chase.
Chase....a wholly and completely faceless cprporate leviathan....failednt9 remove the lien on the title from the old 2nd mortgate.
It has held up the sale for 2 weeks and luckily I found the old account numbers so they could easily locate the records....because my impression based upon their total lack of responsiveness to myself and Chicago Title is tjat if you do not put the information directly in front of their computer monitor and block their game of solitaire you won’t get anything put of them.
I am strongly leaning towards ending ly relationship/closing all of my accounts with chase despite knowing they couldn’t care less abput a small fish like myself.
Probably should be three or four times. It would be more than double were it not for political correctness in lendingn
Because the names are DeSean Brown and Shaniqua Jones and under Relationship they put "baby-daddy"?
Yep... In this day and age nobody cares about customer service. You can’t “punish” Chase.... but you can choose who you do business with.
But, not because they are black. Or white.
In related news, people in their 90s with terminal cancer are 100% guaranteed to have their life insurance applications rejected.
Ever read or see "The Big Short"? Answers lots of questions and confirmed what I predicted. Many of those default borrowers are not minority, but instead are up to their eyeballs in mortgage debt. I know of an acquaintance of ours has a very similar house that we have once had in MO (3200 SF with a FMV of 365,000) who lives in CA and that same house is over 1 million. They have 3 loans on that house - 1 is an interest only on 500k, 250k is on an ARM and the other 250k in a conventional mortgage. We made the same amount of money as a family! They couldn't afford the mortgage and are living in his parents basement making the payments on the interest only and the conventional. Defaulting on the ARM. I won't go to what kind of cars they drive - but that was also part of the problem, purchased on HELoC funds. Mortgage lenders running commercials touting that they can get you a 125% LTV loan was just plain stupid.
Hmmnnn... Credit worthiness used to be the standard.
.
>> “hy does 12% of the population commit over 50% of the murders and violent crimes?” <<
Because they’re very good at what they do...
.
During down turns, what ethnic group(s)do you think are placed on the employment chopping block first? You give pat “facts/answers” to a more complex issue than meets the casual eye.
Did the black/brown applicants have the exact same credit
scores as the white applicants?
The fact that they were turned down for a loan is meaningless if you don’t say why they were turned down.
Here we go again....
Actually its 3%
Black males 16 To 35...
Absolutely true. That discrimination - or preferential treatment - is a large part of what caused the last financial downturn.
True words
A Mortgage is a numbers and risk assessment game.
Payment amount allowed equals a percentage of income minus outstanding debts reported to credit associations. Risk is determined through verification of past history of paying bills on time.
Red/white/black/yellow is irrelevant.
This is refried Bill Clinton idiocy. It was a false positive that created the mortgage debacle.
Application denial does not prove anything. Look at the deliquency rates of rhe resulting minority portfolio vs the white portfolio. When this was done in 1998, it was proved the delinquency rates were identical, which means the credit adjudication was done correctly. This is just business, nothing to do with racism.
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