Reply to Woah, Navy Federal is hella racist

Forum Index » Real Estate

Reply to "Woah, Navy Federal is hella racist"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous]Having been a military family for 30 years, and only basing it on anecdotal experience, I would bet it's debt to income ratio.  High car payments were the norm for lower ranking black soldiers.  I remember driving our chevy cavalier for years while our friends were driving BMWs and fancier model Nissans.[/quote]

Exactly. DTI is not even mentioned in the article. Even with  great credit and a great income, if you have a car payment of $2000 a month and revolving credit of $1000 a month, that can deny your loan, even if you technically can afford it.

I’m black myself, but this article doesn’t sit right with me the way it’s framed. I actually prefer that lenders are stricter than they were to prevent another 2008 situation from happening again where they gave you a mortgage just for having a heartbeat. I had to go through hell and back to get everything approved for my loan but it didn’t bother me because I knew I was legit. [/quote]

CNN's analysis controlled for DTI:

[quote][i]A deeper statistical analysis performed by CNN found that Black applicants to Navy Federal were more than twice as likely to be denied as White applicants even when more than a dozen different variables – including income, debt-to-income ratio, property value, downpayment percentage, and neighborhood characteristics – were the same.[/i][/quote][/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics