Gregorie pushes mortgage probeBy Tenisha Waldo (Contact)
The Post and Courier
Thursday, July 19, 2007
HUD asked to study racial disparities The report's findingsThe National Community Reinvestment Coalition concluded the following in its study released this month: --The gap between what whites and minorities pay for mortgage loans is wider in the Charleston area than in any other metropolitan area in the country. --Black borrowers are at least twice as likely as whites to have expensive loans. --Disparities exist between blacks and whites at all income levels and is more severe at higher income levels than at lower ones. --Charleston area borrowers in all minority groups and income brackets are at a greater risk of receiving high-cost loans than whites. --Greenville also ranked among the top 10 cities with high lending disparities. --"Loose underwriting standards" have provided leeway for loan agencies to adjust or increase their initial rates. Charleston mayoral candidate William Dudley Gregorie is asking the U.S. Department of Housing and Urban Development to investigate why the Charleston area has the largest disparity of any metropolitan area in the country between what minorities and whites pay for mortgage loans. The National Community Reinvestment Coalition, a Washington-based group pushing for lending law reform, found minority borrowers here face the greatest risk nationwide of receiving more-expensive loans than whites. The coalition had analyzed the Federal Reserve's latest available nationwide mortgage data from 2005. Gregorie, who is the former director for HUD's field office in Columbia, said he read about the coalition's findings in a July 12 story in The Post and Courier. Gregorie said no one complained to him in his eight years as field office director, but after reading the newspaper article, he wanted to alert the housing department that discrimination could be in play. "I'm not saying that it's occurring," he said. "I am saying, however, that it is something that (HUD) may want to look in to." Gregorie wrote Kim Kendrick, assistant secretary of the Office of Fair Housing and Equal Opportunity, and asked her to look into the matter. HUD spokeswoman Shantae Goodloe said the office received the letter, but no action has been taken because the letter did not identify specific individuals who have been subjected to discriminatory practices while seeking a mortgage loan. The fair housing office generally needs names of those harmed before it can move forward, Goodloe said. Capers Barr, campaign committee chairman for Charleston Mayor Joe Riley, who will face off with Gregorie in November, criticized the timing of the actions as a political stunt. "It seems to me that Mr. Gregorie is demonstrating quite a knack for reading newspaper accounts and regurgitating them as planks of a political platform," Barr said. "This just seems to be one more attempt to do just that. On the other hand, if this is a legitimate issue in the Charleston community, and if it's something that needs to be corrected, then it needs to be corrected." State Sen. Robert Ford, D-Charleston, will host a public hearing on the issue at 6 p.m. Tuesday at North Charleston City Hall, 4900 LaCross Road. He invited the authors of the report, representatives from various advocacy groups, Charleston area state legislators, other elected officials and more to attend. "If you don't know, somebody is going to take advantage of you, which is going on now," he said. Reach Tenisha Waldo at 937-5744 or twaldo@postandcourier.com. |
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Comments
This article has 11 comment(s)
Posted by greener1 on July 19, 2007 at 8:14 a.m. (Suggest removal)
I think since they need names of those disciminated against they are fighting a losing battle, why-because this was a bogus report. Mortgages are calculated by using categorical factors such as credit and income not credit. Stop trying to fight this fictional "racism" cause and move forward to which we white and black are working together, not against one another. It's not until then when we will see a better future for our children.
Posted by majorjohnson on July 19, 2007 at 8:18 a.m. (Suggest removal)
Lol...the former director for HUD's field office in Columbia doesn't know how his own system worked? Maybe an investigation should be started on what exactly he was getting paid for for all those years that he wasn't learning how the HUD system works.
Posted by Zod on July 19, 2007 at 9:34 a.m. (Suggest removal)
It's official. Mr. Gregorie is a clown.
Posted by Zod on July 19, 2007 at 10:08 a.m. (Suggest removal)
Que?
Posted by da9 on July 19, 2007 at 11 a.m. (Suggest removal)
I work in a mortgage office, I see the numbers and would like to let you know it doesn't seem to be happening here. New South Mortgage is a great mortgage company which also has minority brokers and we also have many contracts with companies that are minority owned. Please, if you feel like you're going to be discriminated (which the option to check for race is not on any of our documents)try and find a broker that's the same race as you. There are many options out there if you feel like you're being discriminated in an office....walk away and take your business to someone who will respect you.
Posted by AnitaChange on July 19, 2007 at 12:11 p.m. (Suggest removal)
Kudos to Gregorie for having the courage to ask for an investigation.
Absent a complainant, the Secretary of HUD has the authority to investigate on behalf of the people. His authority is called a Secretary initiated complaint.
Posted by da9 on July 19, 2007 at 1:33 p.m. (Suggest removal)
I understand that the investigation would have to be done in order to correct the problem, but what are the punishments that can be given to these people and how would they prove that it was a racial thing? Is it right to say that if you feel you are being discriminated that you also have the right and duty to take your business to a more respectable broker? Sometimes you have to shrug those types off and move on to better people. If everyone who felt disrespected by a broker stopped going to him, the problem would be out in the open if he/she isn't getting business and that person could be reprimanded from there. I do know that playing race in this industry is a very unethical choice, but why do people keep going back to the 'bad practice'? Just stop going and they'll shut down-and it'll look worse on them than any lawsuit.
Posted by bigbrotheriswatching on July 19, 2007 at 1:33 p.m. (Suggest removal)
The Post and courier is showing it's true colors as being a propoganda piece for the "Little joe" machine. Why do your reporters feel the need to run stories about Mr. Gregorie and input slights from the mayor's staff, but won't do the same when when stories are run featuring the mayor? "Little joe" is sure one to speak of timing. Where was the timing when he held closed door meetings while members of his staff faced embezzlement charges? and now he does the same in regard to the city's purchase of the Sofa Super store property! It's seems that Mr. Gregorie is only keeping true to his campaign platform about affordable housing in the city, which would only make sense for him to use his former ties to HUD to look into the matter of possible mortgage discrimination in the city. Maybe Tenisha Waldo and David Slade will afford the Gregorie staff to rebut the Riley statements or can we continue to expect one-sided, slanted stories from the paper disguised as journalism. hint, the story could have stood on its own legs without any reference to the mayor's mouth piece.
Question, why was not a question asked to the Mayor's office about what his plans are to protect our community from discriminatory lending practices?
answer, he has none!
Posted by Zod on July 19, 2007 at 7:21 p.m. (Suggest removal)
In all your conspiracy dreaming you neglected the irony of Mr. Gregorie's statements. The man was recently in charge of HUD in South Carolina for eight years. He failed to initiate one investigation of his own. Yet two cities (Greenville, Charleston) under his HUD guidance are in the bottom 10 in the COUNTRY according to the study.
The meat of this story is not what Mr. Gregorie recently inquired. He deserves no admiration for that for one simple reason. He did nothing when he had his opportunity. The "Little Joe" machine had nothing to do with that.
Posted by bigbrotheriswatching on July 19, 2007 at 10 p.m. (Suggest removal)
Zod, it is safe to assume you must be a 'little Joe" flunkie... Go back to your leader and come back when you can think independent of the facts!
Posted by Zod on July 20, 2007 at 10:09 a.m. (Suggest removal)
That's funny. I called "my leader" a communist dictator on this forum less than two weeks ago.....
I just call them as I see them. With his latest comments, Mr Gregorie has proven himself to be a clown.