Reply to Woah, Navy Federal is hella racist

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]How is a conclusion that only includes one single data point valid? What about down payments--yes, privileged white people are much more likely to have down payments given to them--debt, and most of all, credit score? Such a flawed and biased story.[/quote]

Well the story focused on a black man who was rejected for a loan with 700+ FICO, 20% down payment, $100K income, and SFH owner occupied use. [b]That’s a slam dunk underwriting approval[/b]. [/quote]

It’s not a slam dunk if debt to income is high, which they mentioned, and you left out…

A White guy with a 700 score, 20% down, and a $100k job can’t qualify for a $800k house, so there are more factors[/quote]

I can’t get worked up about this until I know what price range the homes and then exactly how many mortgages were applied for in the group with income $140k and over to get a more clear picture.

is the $140k salary a one off and previous years were lower - so they average the salary over a few years?

were the applicants approved on a subsequent application for a home at a lower price point?[/quote]

I mean, I think all of us who have ever been involved in fair lending (and I suspect that may be more than a few DCUMs) really want to know how this happened. Nobody can conclude overt discrimination yet, and of course CNNs analysis could be totally wrong. But in any event, you are wrong to think you could figure it out just by looking at one $140k white applicant. That’s the whole thing about statistics …. [/quote]

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