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Wednesday, December 7, 2016

Mortgage Giant Fannie Mae Accused of Racial Discrimination in Prince George's County

(Click on the image for the details)
"National Fair Housing Alliance and 20 Civil Rights Groups File Federal Lawsuit Over Neglected Foreclosures"
The lawsuit alleges that Fannie Mae purposely fails to maintain its foreclosures (also known as real estate owned or “REO” properties) in middle- and working-class African American and Latino neighborhoods to the same level of quality it does for foreclosures it owns in white middle- and working-class neighborhoods. The data supporting the federal lawsuit, which includes substantial photographic evidence, shows a stark pattern of discriminatory conduct by Fannie Mae in the maintenance of its foreclosures.
·         In the Prince George’s County, Maryland area, we investigated 60 Fannie Mae REOs.
o   51 African American
o   4 Majority Non-White
o   5 White
·         30.9% of the REO properties in communities of color had trash or debris, while none of the properties in predominantly white neighborhoods had the same issue

·         36.4% of the REO properties in communities of color had unsecured, broken, or boarded windows while none of the properties in predominantly white neighborhoods has the same issue.