Retirement tagged posts

Do Mortgage Lenders Reject Loans To Blacks That They Would Make To Whites?

That is the thrust of a recent article by Diana Olick in CNBC, which she terms “An outrageous tale that reveals Black discrimination in the housing market.” Her information comes from Akili Akridge, a black applicant who “had all the right stats: a steady six-figure salary, an 800 FICO credit score, and 20% equity in a home.”

The major points of the story, as told to Olick by Akridge, are the following:

  • Looking to refinance, he entered his financial information in an online mortgage site.
  • The first two calls he received asked about his race and he replied that he was black...

Read More