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Housing Wire: Freddie Mac First Out of the Gate with Plans for Targeted Lending Programs

Housing Wire, April 21, 2022, Freddie Mac First Out of the Gate with Plans for Targeted Lending Programs

The special purpose credit programs will pertain to Black, Latino and Native American borrowers, according to Pamela Perry, head of Freddie Mac’s single-family equitable housing team. The programs will be announced in the third quarter of this year, Perry said during a fair housing webinar hosted by the National Housing Conference, a mortgage trade association.

Perry said that despite statements from banking regulatory agencies, the Federal Housing Finance Agency, the Department of Housing and Urban Development and the Consumer Financial Protection Bureau to reassure lenders that targeted lending programs do not violate fair lending laws, mortgage lenders remain hesitan

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Redlining and Neighborhood Health

Before the pandemic devastated minority communities, banks and government officials starved them of capital.

Lower-income and minority neighborhoods that were intentionally cut off from lending and investment decades ago today suffer not only from reduced wealth and greater poverty, but from lower life expectancy and higher prevalence of chronic diseases that are risk factors for poor outcomes from COVID-19, a new study shows.

The new study, from the National Community Reinvestment Coalition (NCRC) with researchers from the University of Wisconsin–Milwaukee Joseph J. Zilber School of Public Health and the University of Richmond’s Digital Scholarship Lab, compared 1930’s maps of government-sanctioned lending discrimination zones with current census and public health data.

Table of Content

  • Executive Summary
  • Introduction
  • Redlining, the HOLC Maps and Segregation
  • Segregation, Public Health and COVID-19
  • Methods
  • Results
  • Discussion
  • Conclusion and Policy Recommendations
  • Citations
  • Appendix

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