SOC 201 Chapter Notes - Chapter 14: Regular Prime
Document Summary
Analyses of these data show that african american and latino borrowers are. 30 percent more likely to receive higher-rate loans than white borrowers with similar credit histories and income (bocian, ernst, and li 2006). Moreover, women are more likely to receive subprime mortgages than men with similar incomes; in fact, women with the highest incomes have the highest disparities relative to men with similar incomes than women at lower income levels . Even though women tend to have slightly higher credit scores than men . Along with a higher monthly payment, some predatory mortgage lenders. Enhance their profits with the following sorts of dubious tactics: Conducting multiple, unnecessary drive-by property inspections when the homeowner is not in default and then imposing a charge for each. Inspection ; and improperly calculating interest on open-ended lines of credit or variable rate loans.
