Subprime lending

Race-based predatory lending fueled housing crisis

Race-based predatory lending fueled housing crisis

Predatory lending aimed at racially segregated minority neighborhoods led to mass foreclosures that fueled the U.S. housing crisis, according to a new study published in the American Sociological Review. Predatory lending typically refers to loans that carry unreasonable fees, interest rates and payment requirements. Poorer minority areas became a focus of these practices in the […]

New White House rules for help on mortgages

New White House rules for help on mortgages

The White House plans to announce on Friday that it will require lenders to lower the mortgage payments of some unemployed workers and encourage lenders to eliminate some principal debt of homeowners who owe more than their home is worth, sources familiar with the plan said on Thursday. The plan comes as President Barack Obama […]