Axios, January 9, 2023, Mortgage buydowns are the hot new thing helping the housing market The hot new thing in the moribund housing market is called a mortgage buydown — it’s one of the concessions home sellers are increasingly offering buyers to seal a deal.
Axios: Mortgage buydowns are the hot new thing helping the housing market Read More »
Scotus Blog, January 6, 2023, Homeowners ask the justices to enforce a New York consumer-protection law against banks Many mortgage lenders require a financial tool called an “escrow account” for people who buy homes. These accounts hold extra money from borrowers to cover property taxes and home-insurance payments that accrue throughout the life of a
Next City, January 3, 2022, Remembering The Heroes Of Socially Responsible Investment With no financial track record, little staff capacity and only a sketchy plan, we somehow connected to the Adrian Dominicans, who had expanded their work of economic justice beyond shareholder activism to affirmative investment in organizations fighting poverty. In the fall of 1982,
Next City: Remembering The Heroes Of Socially Responsible Investment Read More »
American Banker, January 4, 2023, The tech challenges facing minority banks and how they can solve them The National Bankers Association, whose member banks are minority depository institutions that hold assets of $400 million on average (excluding East West Bancorp in Pasadena, California, which has $62.5 billion of assets), has conducted further research to identify
American Banker: The tech challenges facing minority banks and how they can solve them Read More »
Insider, January 4, 2023, The rise of ‘Zoomtowns’ is going to make home prices and rents cheaper for everyone It’s easy to blame remote workers for the pandemic’s chaotic housing market. Highly paid white-collar employees who exercised their newfound freedom and turned once cheap locales into expensive “Zoomtowns” make for vivid villains.
United States Census Bureau, January 4, 2023, Minority Business Ownership Differs by Sector The diversity of business owners mirrors the changing profile of the nation’s population. The 2020 Census found that the population of nearly all race and ethnicity groups in the United States had grown since 2010 with the exception of the White alone population, which
United States Census Bureau: Minority Business Ownership Differs by Sector Read More »
CNN Business, January 5, 2023, Here’s what to expect in the housing market this year Throughout 2022, the Federal Reserve hiked its benchmark interest rate at a record pace to slow the economy and fight high inflation. Housing took the brunt of the impact, as the most interest rate-sensitive sector of the economy. The Fed’s
CNN Business: Here’s what to expect in the housing market this year Read More »
Trib Live, January 17, 2022, PNC closing 2 more Pittsburgh-area locations, including Vandergrift branch “While I hate to see a business leave the community, I also understand the reasons this is happening throughout the banking industry,” Kessler said. “Fewer and fewer people actually visit brick-and-mortar banks anymore. So much banking is done electronically.” According to
Trib Live: PNC closing 2 more Pittsburgh-area locations, including Vandergrift branch Read More »
American University Magazine, MetroCentrered: Navigating Neighborhood Transition Washington was the nation’s most intensely gentrified city between 2000 and 2013, according to the National Community Reinvestment Coalition (NCRC). Of 154 neighborhoods “eligible to gentrify”—those with median home values and household incomes below the 40th percentile—62 did based on increases in property values and college degree attainment.
American University Magazine: Metrocentrered: Navigating Neighborhood Transition Read More »
Axios Philadelphia, December 15, 2022, Mortgage lender accused of underserving Black homebuyers in Philly Why it matters:Philadelphia is still reckoning with a long history of discriminatory policies that made it more difficult for Black applicants to access mortgages, compared to their white counterparts. The other side: KeyBank said in a statement that it “strongly disagrees” with the NCRC’s
Axios Philadelphia: Mortgage lender accused of underserving Black homebuyers in Philly Read More »
American Banker, January 12, 2023, Community reinvestment group plans to put KeyBank’s regulators on notice One month after releasing a highly critical report about KeyBank’s mortgage lending record to Black borrowers, the National Community Reinvestment Coalition is taking its concerns to regulators. The fair-lending advocacy group says it is planning to send letters this quarter
County 10, January 10, 2022, ‘Ingrained and embedded’: Seminar spotlights institutional racism in systems, communities, individuals The facilitator used stories, multiple videos, and group activities to illustrate how institutional racism is “ingrained and embedded” into daily life in the United States, creating “inequitable opportunities and outcomes” in the workplace, the housing market, healthcare settings, education, and more.
Greenville News, January 11, 2023, Key findings from The Cost of Unity, a series on the displacement of Black Greenville Over the last 30 years, thousands of affluent white people moved into Southernside, West Greenville and other historically Black neighborhoods, raising property values and pushing out less affluent Black people. A 2020 report from the National
Patch, January 4, 2022, Washington, DC: Mayor Bowser Announces Key Appointments? Colleen Green is appointed Acting Director of the Department of Housing and Community Development (DHCD). Director Green has significant experience in finance, real estate, advisory services, operations, strategic planning, and business development. She has worked for both for-profit and nonprofit housing development organizations and
Patch: Washington, DC: Mayor Bowser Announces Key Appointments? Read More »
The Washington Business Journal, December 27, 2022, D.C.-based NCRC Community Development Fund using AI to increase lending capacity NCRC Community Development Fund, a subsidiary of the National Community Reinvestment Coalition, lends primarily to Black, Latino, women and immigrant entrepreneurs and business owners throughout the country. Its new lending platform – for which it is also
