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Friday, July 31, 2020 | History

4 edition of Secondary mortgage markets and redlining found in the catalog.

Secondary mortgage markets and redlining

hearing before the Subcommittee on Consumer and Regulatory Affairs of the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Second Congress, first session ... February 28, 1991.

by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Consumer and Regulatory Affairs.

  • 107 Want to read
  • 3 Currently reading

Published by U.S. G.P.O., For sale by the U.S. G.P.O., Supt. of Docs., Congressional Sales Office in Washington .
Written in English

    Places:
  • United States.
    • Subjects:
    • Federal National Mortgage Association.,
    • Federal Home Loan Mortgage Corporation.,
    • Government National Mortgage Association.,
    • Secondary mortgage market -- United States.,
    • Discrimination in mortgage loans -- United States.

    • Edition Notes

      SeriesS. hrg. ;, 102-78
      Classifications
      LC ClassificationsKF26 .B39424 1991
      The Physical Object
      Paginationiv, 320 p. :
      Number of Pages320
      ID Numbers
      Open LibraryOL1667226M
      ISBN 100160355192
      LC Control Number91601816
      OCLC/WorldCa24575687

        As confidence returns in the secondary mortgage market, it returns to all secondary markets. Ian Salisbury of mentions this in his Aug article, “How an Obscure Bond Play Could Help Consumers." Salisbury states that in , auto and credit card securities were at $ billion but plunged to just $65 billion by   Redlining, a process by which banks and other institutions refuse to offer mortgages or offer worse rates to customers in certain neighborhoods based on their racial and ethnic composition, is one of the clearest examples of institutionalized racism in the history of the United States. Although the practice was formally outlawed in with the passage of the Fair Housing Act, it continues in.

      On J , the CFPB filed a complaint in the U.S. District Court for the Northern District of Illinois against Townstone Financial, Inc. (“Townstone”), alleging that the mortgage lender engaged in the redlining of African-American neighborhoods in the Chicago Metropolitan Statistical Area (“MSA”) in violation of the Equal Credit.   Examples of secondary marketing players are GSE’s (Government-Sponsored Enterprises) like Fannie Mae and Freddie Mac, or Pension Funds, Insurance Companies and many others. Some lenders, like the big banks, are both Primary and Secondary Market players.

        Redlining is the term given to the practices introduced by the creation of the Federal Housing Administration in that lasted until Redlining refers to the practice by which a federal agency, The Home Owners’ Loan Corporation, legitimized racial discrimination by creating color-coded maps for cities across the country between About the Book: This practical desk manual provides a digest and a road map for the rapidly changing secondary mortgage market. Financial institutions, real estate lawyers, lending officers as well as investors will benefit from this overview and analysis of the most significant sellers and servicers guides.


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Secondary mortgage markets and redlining by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Consumer and Regulatory Affairs. Download PDF EPUB FB2

The Secondary mortgage market: A handbook of strategies, techniques, and critical issues in contemporary mortgage finance Hardcover – January 1, by Jess Lederman (Author)Author: Jess Lederman.

Secondary mortgage markets and redlining: hearing before the Subcommittee on Consumer and Regulatory Affairs of the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Second Congress, first session Febru (Book, ) [] Get this from a library.

Hardcover: pages Publisher: Probus Professional Pub; First Printing edition (November 1, ) Language: English ISBN ISBN Package Dimensions: x x inches Shipping Weight: ounces Customer Reviews: Be the first to write a review Amazon Best Sellers Rank: #4, in Books (See Top in Books)Author: Editor.

"An important book that fills the empirical and theoretical gaps in the literature on the sociology and geography of mortgage markets. The book is a fantastic, empirically rich and theoretically innovative exploration of the historical trajectory of urban disinvestment (redlining) and social exclusion that compares the United States, Italy, and.

Find a huge variety of new & used Secondary mortgage market books online including bestsellers & rare titles at the best prices.

Shop Secondary mortgage market books at Alibris. The secondary mortgage market, including Freddie Mac, connects lenders, homebuyers and investors in a single, efficient system that benefits homebuyers in many ways, including: Keeping mortgage rates lower.

Enabling interest rates for mortgage loans to be similar across the country, in good times and bad. Despite the passage of several laws in the past decade to outlaw discrimination in credit markets, the U.S. regulatory and judicial bodies are still struggling to agree on a precise definition of discrimination and how it can be prevented.

Mortgage-backed securities always have some kind of 'credit enhancement,' or guarantees of payment beyond the promises of the individual mortgage borrowers. The most important of the guarantors are Ginny Mae, Fanny Mae, and Freddie Mac. Impact on Interest Rates: Secondary markets reduce mortgage interest rates in several ways.

Mortgage banking generally involves loan originations as well as purchases and sales of loans through the secondary mortgage market. A bank engaged in mortgage banking may retain or sell loans it originates or purchases from affiliates, brokers, or correspondents.

The bank may also retain or sell the servicing on the loans. Order the book You can order the book onBarnes & Noble, or fromincluding your local bookseller. In The Color of Law (published by Liveright in May ), Richard Rothstein argues with exacting precision and fascinating insight how segregation in America—the incessant kind that continues to dog our major cities and has contributed to so much.

– FHA Mortgage Insurance Requirements Utilize Redlining Race and ethnicity are used to determine mortgage eligibility in communities such as Roxbury, Dorchester and Hyde Park, thus perpetuating housing segregation.

The Federal Housing Administration (FHA) Institutionalizes Racism. and to secondary-mortgage-market activities. Con­ sequently, a bank’s practices in the area of housing lending should be examined in a general way to ensure that they do not ‘‘otherwise make unavail­ able or deny’’ housing, even when no specific act or practice may violate any specifically named prohibition of.

The secondary mortgage market is a market where mortgage loans and servicing rights are bought and sold by various entities. Several players participate in the secondary mortgage market: mortgage. "The book makes a strong case that giving so much power to profit-driven industries doomed the program's goals from the start, and there are clear parallels to the later subprime mortgage crisis of the s.

Race for Profit is an important addition to the literature on predatory lending and housing discrimination, as well as a valuable warning." During the “Great Recession” ofFHA played an important countercyclical role, propping up the housing market to supply access to mortgage credit when other sources of financing were limited and the capital markets had seized up.

Today, FHA has active insurance on over 8 million single family mortgages, alm mortgages for. Redlining's legacy: Maps are gone, but the problem hasn't disappeared as well as apply for a mortgage. The act also makes it illegal to impose predatory interest rates or fees.

Market. Fannie Mae (the Federal Nation Mortgage Association FNMA) was set up in to provide a secondary market for home mortgages. This meant that if a bank granted a mortgage to someone and later the bank needed funds the bank could readily sell the mortgage to Fannie Mae.

Credit to the Community provides the an examination of community reinvestment and fair lending problems and policies currently available. It outlines the history of lending discrimination and.

A 'Forgotten History' Of How The U.S. Government Segregated America Author Richard Rothstein says the housing programs begun under the New Deal were tantamount to. Redlining was the U.S. government practice—operating through the Home Owners’ Loan Corporation—of defining the riskiness of mortgages based on the racial makeup of.

The secondary mortgage market is where these investors buy mortgages that have been originated by some of the larger national and regional banks, as well as through mortgage brokers. In most cases, secondary lenders don’t usually see the borrowers or the property prior to the loan being originated.

As such, there are usually strict guidelines.Secondary Mortgage Marketing Glossary & Definitions. Our secondary mortgage marketing glossary outlines useful definitions for the mortgage industry’s most-used terms and phrases.

On this page you can view our list of top secondary marketing terms & definitions.Data drives the struggle for economic justice. It informs our policy, training and organizing. Our research team produces reports, interprets data, creates presentations, charts, tables, maps and data visualizations.

NCRC members can call on the research team for local data or to contract for custom reports and interactive web tools.