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Discriminating Risk : The U.S. Mortgage Lending Industry in the Twentieth Century
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ISBN: 1501729969 9781501729966 0801440661 9780801440663 Year: 2018 Publisher: Ithaca, NY : Cornell University Press,

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Abstract

The U.S. home mortgage industry first formalized risk criteria in the 1920s and 1930s to determine which applicants should receive funds. Over the past eighty years, these formulae have become more sophisticated. Guy Stuart demonstrates that the very concepts on which lenders base their decisions reflect a set of social and political values about "who deserves what." Stuart examines the fine line between licit choice and illicit discrimination, arguing that lenders, while eradicating blatantly discriminatory practices, have ignored the racial and economic-class biases that remain encoded in their decision processes. He explains why African Americans and Latinos continue to be at a disadvantage in gaining access to loans: discrimination, he finds, results from the interaction between the way lenders make decisions and the way they shape the social structure of the mortgage and housing markets.Mortgage lenders, Stuart contends, are embedded in and shape a social context that can best be understood in terms of rules, networks, and the production of space. Stuart's history of lenders' risk criteria reveals that they were synthesized from rules of thumb, cultural norms, and untested theories. In addition, his interviews with real estate and lending professionals in the Chicago housing market show us how the criteria are implemented today. Drawing on census and Home Mortgage Disclosure Act data for quantitative support, Stuart concludes with concrete policy proposals that take into account the social structure in which lenders make decisions.


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Scheming : a social history of glasgow council housing, 1919-1956
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ISBN: 1474453937 1474440592 1474440584 1474440568 Year: 2018 Publisher: Edinburgh : Edinburgh University Press,

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A comprehensive social history of six Glasgow housing schemes in the first half of the twentieth century. When the Corporation of Glasgow undertook a massive programme of council house construction to replace the city's notorious slums after the First World War, they wound up reproducing a Victorian class structure. How did this occur? Scheming traces the issue to class-based paternalism that caused the reification of the local class structure in the bricks and mortar of the new council housing estates. Seán Damer provides a sustained critique of the Corporation of Glasgow's council housing policy and argues that it had the unintended consequence of amplifying social segregation and ghettoisation in the city. By combining archival research of city records with oral histories, this book lets the locals have their say about their experience as Glasgow council house tenants for the first time.

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