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The Fair Housing Act was signed into law in 1968, and yet the racial homeownership gap is worse today than it was 60 years ago.
Why? How can the pursuit of property become harder for some people to achieve in the five decades since Congress tried to level the playing field?
Why is the gap growing despite the federal government creating new agencies to monitor fair lending across the industry?
If a growing number of mortgage companies have started initiatives to diversify their workforces, why isn’t that translating into diversity among homeowners?
Beginning today, May 18, the Mortgage News Network’s “Gated Communities” podcast looks for the answers to these questions and find out what's being done to fix these failures.
Twice a month, host Katie Jensen will bring on guests to discuss redlining issues and how mortgage professionals can help underserved communities.
Hear from everyday people and the obstacles they've faced while trying to achieve the American Dream.
Jensen also asks executives across the mortgage industry about what’s being done to address these problems, and discusses how this industry is going to correct past mistakes.
On the first episode of Gated Communities, guest Tenisha Tate-Austin talks about how she had to whitewash her home to get a higher appraisal.
Austin and her husband, who are a Black couple, were looking to refinance their home but felt the initial appraisal was too low.
Austin shares what it felt like to replace pictures of her family with those of a white family before a second appraisal netted a higher value.
You can find Gated Communities on the Mortgage News Network or wherever you get your podcasts.