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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USA: PNS to Start Energy Efficient Upgrades

first_img View post tag: PNS January 7, 2013 View post tag: Naval View post tag: start View post tag: to Naval Facilities Engineering Command (NAVFAC) Mid-Atlantic awarded a contract Dec. 28 for energy improvements and repairs to the historic Building 92 structural shops at Portsmouth Naval Shipyard in Kittery, Maine.The $13.8 million project is projected to reduce the building’s annual energy consumption by 82 percent through the use of renewable energy, efficient heating, ventilation, and air conditioning and electrical systems, and smart metering technology.“In an industrial facility such as Building 92 structural shops, and in a climate such as Maine, the primary energy driver is building heat,” said Lee Enzastiga, NAVFAC Mid-Atlantic project manager for the Northeast Integrated Products Team. “An energy recovery system will be installed to recover heat being exhausted from the industrial process exhaust and transfer that heat to the incoming air to the building.”A new, large polycarbonate window system will replace a deteriorating window wall and also help reduce energy costs while still preserving the historic character of the building’s exterior walls which cover nearly 30,000 square feet of this submarine fabrication and repair facility.“The new window system will be a translucent curtain wall system that resembles the historic configuration of the existing window system but increases the R-value and prevents air infiltration,” Enzastiga said. The higher the R-value, or the thermal resistance of a material, the better the material is at insulating, he added.Large exterior overhead doors will be replaced or refurbished and large fans will be installed in middle and high bays to draw down the large amount of heat trapped at the high ceiling so it can be used to heat other areas in the building.The project also incorporates several renewable energy technologies such as a solar wall that will preheat air by solar radiation, fans that will feed the preheated air into the building, and hot water coils that will supplement the solar heat. The building’s automated heating system will manage the operation of the fans so they only run when it is efficient to do so.Lastly, a new lighting management system will adjust interior lighting accordingly to maximize natural daylight use from the new window wall.The competitively procured contract was awarded to ECC of Marlborough, Mass. Work will be performed in Kittery, Maine and is expected to be completed by October 2014.[mappress]Naval Today Staff, January 7, 2013; Image: US Navy View post tag: Navy Back to overview,Home naval-today USA: PNS to Start Energy Efficient Upgrades View post tag: energy Industry news View post tag: Defence View post tag: efficient View post tag: News by topic View post tag: Upgrades View post tag: Defense USA: PNS to Start Energy Efficient Upgrades Share this articlelast_img read more

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Another hike in UK’s Air Passenger Duty

first_img Sharing is caring! Share St. John’s Antigua- Britain’s controversial Air Passenger Duty is being increased again, leaving industry bodies in the UK furious over the decision by chancellor of the exchequer George Osborne.The tax is one that continues to be heavily criticised by Antigua & Barbuda and the rest of the Caribbean, because of its alleged discriminatory nature and its negative impact on tourist destinations in the region.While the annual increase was widely expected, the government in London has been heavily criticised following an announcement during the Autumn Statement earlier on Wednesday.The Caribbean is continuing to lobby against a tax that some industry officials insist is also hurting the UK economy.Dale Keller, chief executive, Board of Airline Representatives in the UK, said the pre-Budget levels of APD could not be justified.He also argued that the latest increase takes Britain dangerously beyond the tipping point where the impact can only be negative to the economy.According to Keller, the announcement comes as unsurprising from a government that is not listening to the wider industry, or international opinion, and is self-destructive to its own objectives of attracting foreign investment and tourism.Osborne confirmed earlier that the tax on all long-haul flights and in premium cabins including those to the Caribbean will rise by £2 (EC$9) per passenger from April 2013.The levy on short-haul economy flights will remain at £13 (EC$56).The government has also introduced a new tax rate for private jets, which were previously exempt from APD.Passengers on flights with fewer than 19 seats will have to pay £52 or EC$225 to £376 or a little over EC$1,600, depending on the length of flight, again from April 2013.Antigua Observer LifestyleTravel Another hike in UK’s Air Passenger Duty by: – December 6, 2012 Sharecenter_img 51 Views   one comment Tweet Sharelast_img read more

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