Fannie Mae-No Politics (FNMA)

[along4zride]

ALARMING TREND AT (FNMA)

56% of American blacks who applied for a conventional mortgage in 2012 were denied
Discriminatory lending practices against minority borrowers
African Americans are consistently denied conventional mortgages at a higher rate than any other demographic, and things don't seem to be improving.

Black and Hispanic borrowers are signing up instead for subprime loans – despite knowing that those applicants qualified for the safer mortgages.Not only is this type of institutionalized bias just plain wrong, but it also hurts the entire economy.

Until every family that can afford to purchase a home is able to do so, the housing market will never truly recover. Unfortunately, it appears that we are not much closer to that goal than we were 50 years ago.