Where Credit is Due: Bringing Equity to Credit and Housing After the Market Meltdown: John Powell: University Press of America

Where Credit is Due

Bringing Equity to Credit and Housing After the Market Meltdown

Where Credit is Due

Bringing Equity to Credit and Housing After the Market Meltdown

Description

While much recent attention has been focused on the subprime lending and foreclosure crisis, little has been said about its radically-disparate impact. Drawing upon history as well as insight into the current crisis, this book shows that this crisis is not an anomaly, especially for people of color; nor is it over. People of color have been excluded from wealth-building opportunities via homeownership continuously throughout United States history, from the outright denial of credit and residential racial discrimination, to federally-sponsored urban renewal programs. The subprime lending and foreclosure crisis is predicted to strip a quarter of a trillion dollars in wealth from black and Latino homeowners. It has reversed home ownership gains for people of color and has decimated neighborhoods across the United States while impacting local, regional, national, and international economies. The consequences are devastating. This collection of essays provides a framework for creating equitable policy and ultimately building more stable communities for all Americans.

Chapter 1 Introduction
Chapter 2 Chapter 1: Overview
Chapter 3 Chapter 2: Understanding the Subprime Crisis: Institutional Evolution and Theoretical Views
Chapter 4 Chapter 3: Subprime Lending, Foreclosure and Race: An Introduction to the Role of Securitization in Residential Mortgage Finance
Chapter 5 Chapter 4: A Structural Racism Lens on Subprime Foreclosures and Vacant Properties
Chapter 6 Chapter 5: Subprime Lending, Mortgage Foreclosure and Race: How Far Have We Come and How Far Have We to Go?
Chapter 7 Chapter 6: Subprime Lending in the City of Cleveland and Cuyahoga County
Chapter 8 Chapter 7: Bending Toward Justice: An Empirical Study of Foreclosures in One Neighborhood Three Years After Impact and a Proposed Framework for a Better Community
Chapter 9 Chapter 8: The Foreclosure Crisis and Fair Credit Access for in Immigrant Communities
Chapter 10 Chapter 9: An Ethnographic View of Impact: Asset Stripping for People of Color
Chapter 11 Chapter 10: Affirmatively Furthering Fair Housing: A Critical Component of the Neighborhood Stabilization Program
Chapter 12 Chapter 11: Frannie, Freddie, and the Future of Fair Housing
Chapter 13 Chapter 12: Fannie Mae and Freddie Mac: How Can We Improve Their Support of the Mortgage Market?
Chapter 14 Chapter 13: Furthering Fair Housing, the Housing Finance System, and the Government Sponsored Enterprises
Chapter 15 Chapter 14: Give Credit Where Credit is Due: Overhauling the CRA
Chapter 16 Chapter 15: Breaking the Bank / (Re)Making the Bank: America's Financial Crisis and the Implications for Sustainable Advocacy for Fair Credit and Fair Banking
Chapter 17 Chapter 16: The Housing and Credit Crisis Revisited: Looking Back and Moving Forward

Product details

Published	Nov 21 2013
Format	Paperback
Edition	1st
Extent	402
ISBN	9780761856061
Imprint	University Press of America
Dimensions	9 x 6 inches
Publisher	Bloomsbury Publishing

Author

John Powell

Author

Christy Rogers

Contributor

Vanessa Carter

Contributor

Gail Christopher

Contributor

Rick Cohen

Contributor

Jeffrey D. Dillman

Contributor

Gary Dymski

Contributor

Deyanira Del Rio

Contributor

Ira Goldstein

Contributor

Henry Korman

Contributor

Jillian Olinger

Contributor

Rhonda Ortiz

Contributor

Manuel Pastor

Contributor

Christopher L. Peterson

Contributor

john a. powell

Contributor

Christy Rogers

Contributor

Thomas H. Stanton

Contributor

Hannah Thomas

Contributor

Dan Urevick-Ackelsberg

Contributor

Mark A. Willis

There is, perhaps, no more powerful illustration of contemporary structural racism than the exponential growth of unfair and unequal credit and lending practices that served as kindling for what became the fire-the subprime mortgage crisis…This book is a seminal contribution because it…has the potential to help move readers and policy makers beyond denial of the multifaceted, racially-based drivers of financial practices, policies, and our economy.

Gail C. Christopher, DN, vice president for program strategy, W.K. Kellogg Foundation
...An understanding of this issue is essential to preparing our country to complete in the 21st century global economy as people of color become the majority.

Roger A. Clay Jr., president, Insight Center for Community E