Jul 21, 2016
You are either going to love me or hate me after this one
I came across a "study" recently relating to lending to minority communities. This subject annoys the hell out of me since the vast majority of the time, what is being sold as solid data is a ridiculous manipulation of opinion by making assumptions that do not at all line up with the data collected.
This study is just one such example. As a matter of policy, it is important to understand that lenders are among the most regulated folks on the planet. Anyone engaging in lending that was biased against any race (and only on their race) would be found out relatively quickly and those folks would go to jail.
So what do we do with studies like the one we are covering today that clearly claim that some folks are not getting loans only because of their skin color. Well, we pay attention and we think our way through it. That is what we are doing today.
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#lending #racism #realestate #bias #fairlending #communityreinvestment #subprime #mortgage