Rigid Credit Score Standards Hold Back Housing Recovery

Rigid Credit Score Standards Hold Back Housing Recovery

Over the last six years, more than half of all black and Latino wealth has been lost because of the housing crisis. As a result, few black and Latino families have perfect credit. This problem is likely to continue for some time, given that the credit scores of many well-educated black and Latino mi...

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Veröffentlicht in:National Mortgage News 2014-07, Vol.38 (41), p.14
Hauptverfasser: Whitlock, Mark, Rodriguez, Sam
Format: Artikel
Sprache:eng
Schlagworte:
African Americans
Business conditions
Civil rights
Credit bureaus
Credit ratings
Credit scoring
Dwellings
Economic recovery
Financial institutions
Hispanic people
Home ownership
Housing
Leadership
Millennials
Mortgage companies
Mortgages
Personal finance
Target markets
Veterans
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Zusammenfassung:Over the last six years, more than half of all black and Latino wealth has been lost because of the housing crisis. As a result, few black and Latino families have perfect credit. This problem is likely to continue for some time, given that the credit scores of many well-educated black and Latino millennials have been or will be impacted by student loan burdens that often exceed $100,000.
ISSN:1050-3331