Racial Disparities in Lending and Foreclosure Trends

first_img Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, Market Studies, News Borrowers Clever.com HMDA Lender Discrimination Lenders Loan mortgage 2019-07-04 Radhika Ojha July 4, 2019 2,483 Views Tagged with: Borrowers Clever.com HMDA Lender Discrimination Lenders Loan mortgage Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Radhika Ojha is an independent writer and copy-editor, and a reporter for DS News. She is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas. Previous: The Value of Rent Payment Reporting Next: Parts of a Whole in Default Servicing About Author: Radhika Ojhacenter_img Subscribe Related Articles Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / Racial Disparities in Lending and Foreclosure Trends Racial Disparities in Lending and Foreclosure Trends Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post African-Americans are twice as likely to be denied a mortgage when controlling for income, according to a Clever.com study.The study, which analyzed Home Mortgage Disclosure Act (HMDA) data from the Federal Financial Institution’s Examination Council (FFIEC) about applicant and borrower characteristics, revealed that applicant data points were limiting and that HMDA’s data set is missing important variables like why applicants were denied.In fact, it found that 52% of black applicants had no reason listed for their mortgage being denied.Amongst its key findings, the study said that when controlling for income, the disparity between white and black mortgage approval rates was most pronounced in the South. Eighty-nine percent of white applicants are approved in Southern states, compared to 76% of black applicants, it indicated.The states where black applicants are least likely to get approved included Kansas, South Carolina, Mississippi, Louisiana, Arkansas, Delaware, and Alabama. In South Carolina, the study said that 49% of black applicants were denied applications compared to 8% of white applicants, not controlling for income.While it found the least racial disparity in mortgage lending in the West, the study said that “the difference between approval rates is still statistically significant, indicating racial discrimination in the mortgage industry is a nationwide issue.”It found four exceptions to this rule. In Montana, Idaho, Hawaii, and Vermont the number of mortgage loan denials were higher for white borrowers than Black. Additionally, in these states, the discrepancy between black and white approval rates is less than 7%.Looking at borrowers by race, it indicated that “mortgage applicants are predominantly white.” Out of the sample of 1.7 million applicants analyzed by Clever.com, more than 1.4 million mortgage applicants were white, compared to 80,442 African Americans, 93,762 Asian Americans, 29,293 American Indians, and 15,645 Native Hawaiians or Pacific Islanders.The study also found that African-Americans and Hispanics were more likely to be at risk of foreclosures. This, because African-Americans (105%) and Hispanics (78%) were more likely to use high-cost mortgages to purchase a home. The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days agolast_img read more

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Global HR chiefs command salary of about £220k

first_img Previous Article Next Article Global HR chiefs command salary of about £220kOn 18 Apr 2000 in Personnel Today Top HR professionals employed by multinational companies earn an averagesalary of £220,000, according to research on leading companies.The study, based on interviews with staff at 50 organisations includingMicrosoft, Daimler-Chrysler, Wal-Mart, Shell and Deutsche Bank, also revealsthat not all HR leaders have a personnel background.Examples include Microsoft’s Chris Williams, who has an IT background, andPearson’s David Bell, who began his career in journalism. Commissioned byCendant International Assignment Services, the study found change management isthe most highly rated skill of HR professionals.The survey found 53 per cent of top HR staff speak two languages while 17per cent speak three.On average, they spend 55 days a year travelling and 43 per cent have livedabroad.John Arcario, of Cendant, said key issues identified include skillsshortages, globalisation, work-life balance and outsourcing.”This survey offers valuable insights into the global workforce issuesthat senior HR leaders are managing today.” Comments are closed. Related posts:No related photos.last_img read more

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Weekend Pick: Asheville Hot Chocolate 10K

first_imgThere are very few things that beat warming up with some good hot chocolate on a cold day. Combine that with one of the best 10Ks in the Blue Ridge region? Now that’s a real winner. See for yourself this Saturday at the Asheville Hot Chocolate 10K.The reviews of the Hot Chocolate 10K are simply shining: “The Hot Chocolate 10k in Asheville is a tasty mid-winter treat for runners at a time when good races are few and far between,” says running blogger Richard Hefner. “A great way to start the new year!” another racer claims.Here’s some more good incentive, for those of you who might be a little nervous to take on the 10K challenge: the Hot Chocolate 10K race is widely known as the “flattest 10K” in the Asheville area. No hills, no problem. The course follows a gentle path through the city, perfect for beginner runners or a great chance for more experienced racers to focus on speed and form. The race will begin at 8:55 AM Saturday morning, with a hot chocolate celebration and awards ceremony to follow. In addition to all that delicious cocoa, racers will receive a commemorative long-sleeve shirt at the finish. The race is capped at 750 participants, but there’s still room for more! Online registration has closed, so interested runners should register on-site the morning of the race. Registration costs just $40, and benefits the local Isaac Dickson Elementary School Parent Teacher OrganizationHot Chocolate 10K.Hot chocolate + fun miles + good people = one great event. Get in on the action at the Asheville Hot Chocolate 10K!last_img read more

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How Syracuse causes more turnovers than any other team in the country

first_img Related Stories Syracuse gets ‘program-changing win’ over No. 10 Florida State Evan Jenkins | Staff Photographer Published on February 29, 2016 at 8:34 pm Contact Paul: [email protected] | @pschweds With an experienced guard-heavy lineup, Syracuse’s athleticism and length makes it a fit for the press. Each year, layers have been added and Hillsman has recruited players for the press as it becomes a bigger part of the Orange’s identity.The key, players said, is paying attention to Hillsman on the sideline. If he calls “fist,” it’s a man-to-man press, Cornelia Fondren said. But whether his fists are pointed up or down determines whether to trap in the frontcourt or bait the opposition to get to half court before applying the pressure. If the call is “red,” SU’s defense traps as much as possible before half court. “Green” means to only feign the pressure. On any given possession, the entire package could change.Players on opposing teams have asked SU guard Brittney Sykes how the Orange does it. All she could do was chuckle. It’s tiring just to break a press for a full game, Sykes said, and even more challenging for offenses when it’s hard to detect what the Orange is doing.“It’s almost like boxing. You keep hitting them in the body and eventually they’re going to lower their hands and you finish them,” Hillsman said. “That’s how we are on defense. We just keep pressing them and then we go on these 10-0 runs that blow the game open.”In its biggest win of the season on Feb. 18, Syracuse forced Florida State, a team that averages 17.4 turnovers per game, into 10 first-quarter turnovers. In that quarter alone, the Orange varied its defense by disguising pressure on some possessions and attacking ball-handlers right as they crossed half court on others.FSU head coach Sue Semrau said her team was “shell shocked” by Syracuse’s press. Boston College head coach Erik Johnson had to switch who handled the ball. Clemson head coach Audra Smith said SU plays like sharks that smell blood.Syracuse’s press has been a major part of one of its most successful years in program history and now it carries the Orange into the postseason.“Most offenses they’re dictating to you,” Read said. “But if we got you on your heels and you’re uncomfortable, you’re unsure, we’re dictating to you.”For a comprehensive visual breakdown of Syracuse’s defense, click here. Commentscenter_img One fist or two. Thumbs up or down. Red or green.No matter what Syracuse head coach Quentin Hillsman signals, the appearance of the Orange’s full-court press, at first, is the same. Then it shifts. Then chaos sets in.Then-No. 10 Florida State committed 28 turnovers. Then-No. 16 Miami had 26. Then-No. 12 Duke coughed the ball up 32 times. Syracuse’s full-court press is nearly impossible to game plan for.The Orange leads the country with 25.5 forced turnovers per game. That’s given it had nearly five more possessions than it averaged a season ago. It’s also the most since SU averaged 28.5 forced turnovers per game in the 1979-80 season. It all stems from 40 minutes of deception.“It’s kind of like a football game in a sense where you have this team that’s giving you different looks and different blitz packages,” SU assistant coach Vonn Read said. “You don’t know where the traps are going to come from and it can really frustrate our opponents.”AdvertisementThis is placeholder textOn Thursday, No. 17 Syracuse (23-6, 13-3 Atlantic Coast) earned a double bye in the ACC tournament by blowing out Boston College and forcing 33 turnovers. SU’s 23 regular-season wins tied a program record and its 13 conference wins set one. And a big portion of the Orange’s success comes from a full-court press that’s rarely been cracked this season.Syracuse fully committed to the press a few years back because it wanted to reduce the time it spent in its 2-3 zone. Read said instead of having to sit back for nearly 30 seconds, SU only has to sit back for 15–18 by pressing. Hillsman had Syracuse press the full game and the zone defense improved. As the Orange stuck with the press, it improved.By now, the press has several formations: 1-2-2, 2-1-2, 2-2-1 or man-to-man. And the Orange has several wrinkles within each one: attack before half court or behind it, apply the pressure or only create the illusion, trap from the front or trap from the rear.“We used six players in practice to go against it,” Pittsburgh head coach Suzie McConnell-Serio said after the Panthers committed 26 turnovers in a 23-point loss to SU on Jan. 14. “Constantly trapping and they’re just relentless.” Facebook Twitter Google+last_img read more

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