NATIONAL: Mortgage Brokers Jerked Minority Borrowers; Car-jacking Suspects Arrested in Atlanta

January 7th, 2009

Foreclosure

Mortgage Brokers Jerked Minority Borrowers Two major mortgage brokerage companies, which consistently zapped Black and Hispanic borrowers with substantially higher interest rates than Whites, must pay $665,000 in restitution. Under the terms of the agreement between HCI Mortgage, Consumer One Mortgage and the New York Attorney General’s Office, the companies must compensate 445 minority clients. New York filed suit following an investigation of GreenPoint Mortgage Funding, a division of Capital One Financial, found discriminatory lending practices.  HCI, Consumer One and U.S. Capital Funding did “substantial business” with GreenPoint, said Attorney General Andrew Cuomo. In March 2007, Capital One agreed to pay $1 million in compensation. The U.S. Capital Funding suit has yet to be resolved. The settlements will “ensure mortgage brokers comply with the law and offer fair and legitimate rates to all New Yorkers,” Cuomo said. The Black and Hispanic borrowers who used HCI Mortgage paid about 50 percent, or about $2,500, more than White clients.
Car-jacking Suspects Arrested in Atlanta. Police arrested two men Tuesday who allegedly jacked a Jaguar in downtown Atlanta after their car slammed into other vehicles, injuring two other people, including a 12-year-old boy. Both suspects were also injured and taken to Grady Memorial Hospital.

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Comments

RED NECK HUNTER said on January 7th, 2009

DAM!! “REDNECKS”. THEY HAVE BEEN MESSING UP THE NATION EVERY SINCE THE FIRST DIRTY STINK WHITE BASTARD FELL OFF THE BOAT! THE INDIANS SHOULD HAVE COOKED AND EAT ALL OF THEM AND USED THE WOOD FOR THE FIRE.

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Rob C said on January 7th, 2009

Hey RED NECK HUNTER,

You DO realize that not all mortgage brokers are white, right?
Man you’re pathetic.

Oh, and remember, If the white man never made it to america, you would be stuck back in Africa; ‘The motha land’.

I don’t think you could hack in Africa.

Jade said on January 7th, 2009

Well I have to wonder if the rates were higher because of their race, or because of their credit scores, because unfortunately minorities tend to have lower credit scores, and if that’s the case then they should have been charged a higher rate.

seschris said on January 7th, 2009

Jade,

Of course lower credit scores result in higher rates BUT this is not about credit scores. Blacks and whites of EQUAL qualifications received different rates based on race with blacks receiving HIGHER rates. Can you justify that action? And by the way there are plenty of whites in bankruptcy court as well unless you think all those white welfare recipients have perfect credit or perhaps you thhink all those trailer parks and lower class neighborhoods filled with poor white folks are their because they choose to live in those conditions not because their income or credit scores forced them to.

RED NECK NUNTER said on January 7th, 2009

ROB C… THE..” C”..STANDS FOR CL^T..YOU DUMB SMELL LIKE A WET DOG WHITE BOY. DID I SAY EVERY BROKER WAS WHITE? DOUCH BAG NOW I WILL !!THE REASON WE HAVE THE PROBLEM IS BECAUSE THERE IS A PRACTICE BY WHITE BROKERS AND THEIR THE COMPANIES TO PRAY ON PEOPLE OF COLOR. DAM!! I BET YOU DRINK RUM AND PISS ON YOUR SELF EVERYDAY.

Trina said on January 8th, 2009

Rob C, the white race has traveled all over the world trying to annilate and destroy every culture that they have had contact with because of hatred and greed. I know you are not stupid enough to think that Africans decendents need to thank the white man for dragging them to America starved, beaten and chained. The native Americans don’t thank Whites for committing gennocide against them either. Everyone was busy minding their own darn business before whitey started stealing, raping and killing them. The reason why Blacks are doing as good as we are now is because we were strong enough to survive and fight against the vicious assault and cruelty of slavery. On the contrary, if it wasn’t for our God-given strength of soul, body and mind, you would still be burning under the hot sun trying to pick your own darn cotton. No fool, you need to be thanking us.

david said on January 8th, 2009

Trina your own people in africa sold you people out (chiefs you own the black ones) and the arabs also sold you people . You say strong enough to survive but it was not on you people’s own there were white people that helped to put an end to slavery study history if you need to.

seschris said on January 8th, 2009

david,

Our personal inner strength as descendants of slaves has nothing at all to do with white people helping us! You and your kind would like to strip black Americans of anything worthwhile and positive but fortunately we know better. I know you are incapable of giving any positive credit to black people for anything but the truth is the truth! African American’s have endured and persevered for many years and we are still standing due to our own strength of character; no thanks to anybody else. NOW RESEARCH THAT MF!

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