cakkd wrote:It seems like unfounded alarmism by the same people who hang the financial crisis on the CRA.
CRAs had little or nothing to do with the financial crisis.
People with scores too low for cell phone contracts were being given mortgages. Greedy, unregulated lenders took advantage of people who felt entitled to stuff they couldn't afford.
Banks were bailed out and have money to lend with nothing standing in their way but FICO scoring models. Lowering underwriting standards would scare away investors.
In this case; race is just a distraction to stop people from asking hard questions.
Starting Score: 675