Voice of Reason
Veteran
No I don't an exact percentage but it's obvious whom these programs are being directed to.
Biden is funneling Billions of dollars to the Black community through various programs you both siders are c00ns and idiots.
- Thread starter Voice of Reason
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No I don't an exact percentage but it's obvious whom these programs are being directed to.
Like it’s obvious that affirmative action is directed to blacks and yet white women are the biggest beneficiary?
Strange, the Wall Street Journal and several White Supremacist magazines attacking the programs right now certainly don't think they're universal:
Opinion | Fannie Mae’s New Racial Bias
The government-sponsored housing giant embraces race-based subsidies.
www.wsj.com
Fannie Mae’s New Racial Bias
The government-sponsored housing giant embraces race-based subsidies.
[not linking the White Supremacist article, just quoting]
"Freddie Mac’s equity plan also includes credit programs to address “systemic barriers” to housing for minorities but at least tries to camouflage its racial preferences. Fannie makes its subsidies for blacks explicit, but they don’t appear to extend to other racial groups such as Hispanics and Asians. Low-income white borrowers are also excluded."
Voice of Reason
Veteran
Valid concern but if you look into how this stuff is actually implemented that doesn't seem to be the case.
It relies on a pipeline that’s stupidly broken, remember all that Covid money for renters or whatever that just sat around not being used, “buts it’s money to help!” they said
I’m sure nikkas gon come in here with articles saying the opposite or citing reasons…and yeah I’m just a lil bit jaded idgaf…but I expect nothing less from cac, or any politician anymore.
It just is what it is…run me my damn money directly or shut the fukk up at this point
Funny, states either earmarked it for later when they could touch it for real or "lost" the money.
If your property manager didn't get a federal loan, you weren't eligible for the Covid rent money.
So, I was SOL
More lip service, good for those who can capitalize on it, but I'm sure the previous owners will make sure not to sell you anyway
OfTheCross
Veteran
Here's a list of who got it as of last December
List of Financial Institutions Approved to Receive ECIP Investments
List of Financial Institutions Approved to Receive ECIP Investments
I’m going to sit down later and go through this list one by one but on first glance I can already tell by the names that very little money went to black institutions
Biden's Budget Increases CDFI Funding by 23% | Credit Union Times
Opinion | Fannie Mae’s New Racial Bias
"One program would assist black borrowers with down payments. Most home-buyers are required to put down at least 20% of the cost of a new home to reduce the risks of default. Fannie’s plan would effectively require taxpayers to subsidize down payments for black borrowers. Revenue that Fannie earns on its mortgage portfolio is retained as capital to protect taxpayers during a downturn. Under Fannie’s plan, some of that revenue would go to reducing down payments.
Another new program would reduce “loan level price adjustments” for black home buyers. Lenders typically charge higher rates for borrowers with lower credit scores, and Fannie says reducing them can “reduce obstacles for prospective Black homeowners.”
Still another program would “support the reduction of borrower closing costs for Black homebuyers”—for instance, via appraisal reimbursements"
They are being aggressive enough that right wing cacs are bytching and complaining.
They are pumping billions of dollars into programs that help Black folks put money down for homes and start businesses.
Stop being a contrarian and look into policy
Most of these items are a drop in the bucket to be truthful. A lot of money doesn’t even make it to black families nor addresses systemic issues. But it’s better than nothing -
OfTheCross
Veteran
the reason I looked into it today:
OfTheCross
Veteran
I’m going to sit down later and go through this list one by one but on first glance I can already tell by the names that very little money went to black institutions
It looks like it's mostly credit unions.
Off rip I see one that says you gotta be from Jersey City to have an account there...I hear that's a Black area
