Inequality in U.S. Social Policy by Bryan Warde

Author:Bryan Warde [Warde, Bryan]
Language: eng
Format: epub
Tags: Social Science, Sociology, General
ISBN: 9781317537564
Google: BufLDAAAQBAJ
Publisher: Routledge
Published: 2016-08-05T05:07:58+00:00

Hence the term “redlining,” referring to a neighborhood and its residents being appraised as a poor risk for a loan or mortgage only because of where they live and without due consideration of their individual circumstances. All this said, there is no evidence that during its two years of granting loans that the HOLC discriminated racially or ethnically when granting assistance to homeowners in danger of foreclosure (Massey & Denton, 1993).

Although applying racial and ethnic worth to real estate appraisal had long been in practice, the HOLC’s use of it as part of its appraisal method was significant because it marked the first time it was used at a federal or large-scale level. The impact of this was to be monumental, not least because the appraisal methods devised by the HOLC were praised by National Association of Real Estate Boards for improving the standard of real estate appraising in America (Jackson, 1980). Indeed, lenders and other federal agencies would use it, most especially redlining, for years to come as a template for assessing mortgage loan risk.

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