06-24-2018  12:30 am      •     
The Skanner Report
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NEWS BRIEFS

AG Rosenblum Seeks Info from Oregonians

Oregon Attorney General seeks information on children separated from families at border ...

Community Forum: How Does Law Enforcement Interact With Vulnerable Populations?

Forum will focus on public safety and examine mental health and addiction issues ...

King County Council Recognizes Juneteenth

The Metropolitan King County Council recognizes a true 'freedom day' in the United States ...

Unite Oregon Hosts ‘Mourn Pray Love, and Take Action’ June 20

Community is invited to gather at Terry Schrunk Plaza at 6 p.m. on World Refugee Day ...

MRG Foundation Announces Spring 2018 Grantees

Recipients include Oregon DACA Coalition, Kúkátónón Children’s African Dance Troupe, Komemma Cultural Protection Association ...

On the hunt in Oregon for a rare Sierra Nevada red fox

BEND, Ore. (AP) — In a dense forest at the base of Mount Bachelor, two wildlife biologists slowly walked toward a small cage trap they hoped would contain a rare red fox species. Jamie Bowles, an Oregon Department of Fish and Wildlife technician in Bend, and Tim Hiller, founder of the...

Lawsuits allege racial profiling in Portland-area businesses

SALEM, Ore. (AP) — Several African Americans are suing big-box stores and restaurants in Oregon, claiming employees at those places wrongly accused them of stealing because they were "shopping while black."A Portland law firm has filed five lawsuits alleging racial profiling at businesses in...

Abuse survivor finds new life, success in Pacific Northwest

VANCOUVER, Wash. (AP) — Jonathan Dutson long dreamed of moving to the Pacific Northwest, where its lush greenery offered a respite from the scorching Arizona sun he grew up beneath. But Dutson was looking as much for a new home as he was looking for an escape.Dutson was one of 700 who walked...

Alaska city honors Guardsmen killed in crash after '64 quake

ANCHORAGE, Alaska (AP) — A month after the second most powerful earthquake ever was recorded, the Alaska port community of Valdez remained in ruins.A hulking Alaska National Guard cargo plane's mission April 25, 1964, was to deliver Gov. William Egan to oversee efforts to rebuild the town on...

OPINION

How Washington’s 'School Achievement Index' Became School Spending Index

New assessment categorizes schools not by quality of education, but level of funding officials believe they should receive ...

Black Mamas Are Dying. We Can Stop It.

Congresswoman Robin Kelly plans to improve access to culturally-competent care with the MOMMA Act ...

Hey, Elected Officials: No More Chicken Dinners...We Need Policy

Jeffrey Boney says many elected officials who visit the Black community only during the election season get a pass for doing nothing ...

Juneteenth: Freedom's Promise Still Denied

Juneteenth is a celebration of the de facto end of slavery, but the proliferation of incarceration keeps liberation unfulfilled ...

AFRICAN AMERICANS IN THE NEWS

Lawsuits allege racial profiling in Portland-area businesses

SALEM, Ore. (AP) — Several African Americans are suing big-box stores and restaurants in Oregon, claiming employees at those places wrongly accused them of stealing because they were "shopping while black."A Portland law firm has filed five lawsuits alleging racial profiling at businesses in...

Racist tropes in Ramadan TV satires anger black Arabs

DUBAI, United Arab Emirates (AP) — In an attempt to capitalize on what's become a ratings bonanza for Arabic satellite channels during the Muslim holy month of Ramadan, two comedies struck the wrong chord with audiences when their lead actors appeared in blackface.Criticism was swift on...

Chaos on the border inflames GOP's split with Latinos

When more than 1,000 Latino officials __ a crop of up-and-coming representatives from a fast-growing demographic __ gathered in Phoenix last week, no one from the Trump administration was there to greet them.It marked the first time a presidential administration skipped the annual conference of the...

ENTERTAINMENT

Han Solo's Blaster from 'Return of the Jedi' tops auction

LAS VEGAS (AP) — Han Solo's Blaster from the "Return of the Jedi" has sold for 0,000 at a Las Vegas auction.Julien's Auctions says Ripley's Believe It or Not bought the item Saturday.The sci-fi weapon was the top-selling item at the Hollywood Legends auction.The blaster was part of a...

Ornate NYC theater, used for years as a gym, to be restored

NEW YORK (AP) — For years, Long Island University's basketball team played in a French Baroque movie palace in downtown Brooklyn.The gilded wall fountains, plastered statuettes and towering, one-of-a-kind Wurlitzer organ pipes of the historic Paramount Theater were preserved by the...

Vinnie Paul, co-founder, drummer of Pantera, dies at 54

Vinnie Paul, co-founder and drummer of metal band Pantera, has died at 54.Pantera's official Facebook page posted a statement early Saturday announcing his death. The label of Hellyeah, his most recent group, confirmed the death but neither statement mentioned Paul's cause of death.His real name...

U.S. & WORLD NEWS

In about-face, Iraq's maverick al-Sadr moves closer to Iran

BAGHDAD (AP) — Muqtada al-Sadr, the maverick Shiite cleric who emerged as the main winner in Iraq's...

US moves 100 coffins to N. Korean border for war remains

SEOUL, South Korea (AP) — The U.S. military said it moved 100 wooden coffins to the inter-Korean border to...

New Zealand leader names daughter Neve, leaves hospital

WELLINGTON, New Zealand (AP) — New Zealand Prime Minister Jacinda Ardern and her partner Clarke Gayford...

AP PHOTOS: Germany salvages campaign on Day 10 of World Cup

MOSCOW (AP) — Germany midfielder Toni Kroos scored a dramatic late winner to come from behind and beat...

Beyond World Cup: Advocates call attention to Russian abuses

MOSCOW (AP) — Wrapped in national flags, jubilant fans dance at midnight in the streets of Moscow, smiling,...

In about-face, Iraq's maverick al-Sadr moves closer to Iran

BAGHDAD (AP) — Muqtada al-Sadr, the maverick Shiite cleric who emerged as the main winner in Iraq's...

Charlene Crowell NNPA Columnist

Charlene CrowellAs part of the 43rd annual Congressional Black Caucus Foundation Conference, the National Association of Real Estate Brokers unveiled new and disturbing research on how communities of color are suffering a worsening racial economic disparity. The State of Housing in Black America reveals that while the private sector and financially secure consumers recover financial ground from the Great Recession, much of Black America is being economically left behind.

Long-time civil rights activist Benjamin Chavis, Jr., wrote the report's foreword advising,

"African-Americans have a large buying power nowadays, yet we continue to be the most foreclosed and wealth-depleted community in America. We cannot and will not just be bystanders as the American economy continues to rebound."

Julius L. Cartwright, NAREB president added, "Not only has our homeownership rate plummeted, but also accessing mortgage credit has become nearly impossible outside of government insured programs such as the FHA and VA."

The report examines how African-Americans and Latinos have been cut off from the housing market and home finance in addition to employment opportunities. Further, according to the report, until economic equity and recovery are added to the long-standing issue of equal access to housing, the ability for communities of color – Black and Brown – to build wealth will remain an elusive and distant dream.

For example, today the majority of mortgage loans made to African-Americans are FHA backed. Long-lured by FHA's low down payment requirement (usually 3.5 percent), today's costs for these loans have increased, particularly in the areas of mortgage insurance and fees. Consequently, although available, FHA loans will cost more over the life of the loans and they will also be higher than a decade ago.

By contrast, the report states that loans backed by Fannie Mae and Freddie Mac, "are all but impossible for many African-Americans to secure." The typical credit scores of borrowers for these mortgages are in the upper 700 range with down payments at or near 20 percent and usually resulting in a more affordable monthly payment.

According to James Carr, lead author of the report, "One of the major problems with most proposals to revamp Fannie Mae and Freddie Mac is that access and affordability is not the driving goal of those recommendations. Rather, risk sharing between the private and public sector seems to be the driving mantra."

In the meantime according to the report, nearly 5 million borrowers remain either in the foreclosure process or are seriously delinquent on their mortgages. Between January 1, 2007 and May 31, 2013, nearly 14.8 million foreclosure notices were filed. Since the onset of the crisis, African-Americans had 7.8 percent of mortgage originations, but 11.6 percent of completed foreclosures. When similar statistics for Latinos are combined, people of color are more likely to have completed foreclosures at a rate higher than 70 percent.

The loss of homes to foreclosures is also lost family wealth. While African American and Latino families respectively lost 53 and 66 percent of their net worth, non-Hispanic White households lost wealth was limited to 16 percent.

The report states, "More than 90 percent of the amount of total aggregate wealth lost during the collapse of the housing market and the subsequent recession has been recovered. However, this wealth recovery is not equally shared across households as a large proportion has occurred for stocks that are disproportionately held by high-income, typically non-Hispanic White households."

The report urges measurable progress in four key areas before consumers of color can begin to financially recover:

 

Reducing the existing number of underwater mortgages through principal reduction;

More consumer mortgage purchase originations

Easing of tight mortgage credit; and

Reducing the growth of investor purchases that transform former owner-occupied dwellings into rental properties.

 

"Owning a home has been the most successful vehicle for people of color to build wealth", observed Carr. "But with a tightening housing market and weak labor market and no exceptional programs to assist communities battered by the crises, the outlook does not look promising."

 

Charlene Crowell is a communications manager with the Center for Responsible Lending.

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