Black applicants are rejected by mortgage and mortgage refinancing lenders at much higher rates than Whites.
When the coronavirus struck the U.S. in early spring, and the stock market went into freefall, mortgage rates began to plummet as well. Thousands of homeowners rushed in to refinance their loans, getting much-needed savings on their monthly payments. "I'm watching the news and keeping track, and I'm talking to friends who are refinancing, and they're saying that they got in the low threes," said Akridge. "I said of course, this would be a great thing for us to do. Why not?"
Akridge had all the necessary financial credentials: He had been working at his company for more than two years, where he said he earned a six-figure salary. He also said he had about an 800 FICO credit score, and that he and Melissa had close to 20% equity in the home, more than enough to refinance.So he went to an online mortgage marketplace and filled out all of his financial information. Then the calls began coming in.
acorns How about a disturbing tale of a qualified white man trying to get a job in a world dominated by affirmative action and quotas.
acorns Carson?
acorns 🙄Like this is a surprise! Anywhere there’s an opportunity for Black People to do business or just exist. There will be some form of Prejudice & Racism involved Just to make sure everyone knows “Where” I’m talking about Here👉🏾🌎
acorns All this really means is some bank lost a good customer.
acorns zzzzz