Credit Invisibility: A Barrier to Homeownership

first_img The Best Markets For Residential Property Investors 2 days ago Credit Invisibility: A Barrier to Homeownership Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others. The Week Ahead: Nearing the Forbearance Exit 2 days ago March 4, 2021 927 Views Previous: Winter Storms Contribute to Dearth of Housing Inventory Next: ‘Right to Housing’ Motion Prioritizes Ending Homelessness in Daily Dose, Featured, Market Studies, News  Print This Post Home / Daily Dose / Credit Invisibility: A Barrier to Homeownership Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Related Articles Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago It is well established that there exists a direct relationship between credit security—that is, having a strong credit history and structural access to offers of credit—and higher rates of homeownership, however, a Zillow study found that about one in 10 American adults are “credit invisible,” meaning they have zero credit history and that the share of credit invisibility is disproportionately higher for those who are Black or Latinx.According to Zillow, poor or nonexistent credit history is the most-common reason mortgage applications are denied to Black applicants.”Lower homeownership is just one of many negative results borne out of poor credit health in communities nationwide,” said Nicole Bachaud, an economic data analyst at Zillow. “For many, walking into a bank or going online to apply for a loan or open a new credit card is simple. But for those excluded from the formal credit market in this country, it is a far more daunting task, and Black and Latinx households are especially vulnerable. A shift in credit reporting might be a first step to reducing the systemic barriers into homeownership and the financial market overall.”The Zillow report comes around the same time as another report from the Urban Institute, whose researchers recently pointed out that credit data used to approve or deny potential borrowers “cannot capture the experiences of about one in 10 U.S. adults who do not have a credit file, a disproportionate amount of whom are people of color,” adding that “although credit health appears to have improved for all groups during the pandemic, racial gaps have not narrowed.”The Biden administration has proposed restructuring the current credit system to accept non-traditional credit barometers such as rental payment records and utility bills as an alternative path to establishing a credit history.”The goal of such a restructuring would be to bring many credit invisible individuals into the system they are currently locked out of,” Zillow reported.Not only are Black and Latinx individuals more prone to being credit invisible, but they are also more highly concentrated in counties with higher credit insecurity, the researchers added.Specifically, some one in 10 Black households (9.7%) and 7.9% of Latinx households reportedly live in counties considered credit insecure, compared to 2.7% of White households and 3.5% of Asian households.The full report is available on Zillow.com. The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Christina Hughes Babb Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago 2021-03-04 Christina Hughes Babb Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Subscribelast_img read more

Hovis to air new British TV ad

first_imgPremier Foods will air a new British-themed TV advert for its Hovis bread brand next month.The £1m ad campaign, which will run from 10 February until the end of March, will focus on its existing ‘Go on Lad’ concept, featuring a young boy’s journey through recent history and focusing on British life and iconic events, such as the Queen’s Silver Jubilee. It forms part of a wider £10m investment to promote Hovis as a British brand among its major national competitors.Michael Clarke, chief executive officer at Premier Foods, said: “The awareness and popularity of our Power Brands remain strong, but it’s clear that we haven’t invested enough in marketing compared with our competitors. I’m committed to changing that. The new TV ads are just the start of things to come.” Premier Foods recently updated Hovis’ bread packaging to feature the Union Jack flag and an eye-catching blue band, highlighting it as the only major national bread brand that uses 100% British wheat and no artificial preservatives.The company has extended its marketing spend to more than £50m this year to help restore growth, focusing on its eight Power Brands and running TV campaigns for six of them, including Hovis and Mr Kipling. Each advert will carry a Premier Foods signature to illustrate the company’s commitment to invest in its brand portfolio.Premier Foods will also be running TV ad campaigns for its Sharwood’s and Loyd Grossman brands in the next two weeks.last_img read more

Leising commits to work ILEARN impact to schools in 2020

first_imgOldenburg, IN—State Senator Jean Leising gathered with fellow legislators at the Statehouse for Organization Day – the ceremonial start of the Indiana General Assembly.Organization Day marks the annual first roll call of all state lawmakers. This day also provides each Senate and House of Representatives caucus with the opportunity to gather before session officially reconvenes in January. By state law, the 2020 session will conclude on or before March 14.“I am eager to begin working with fellow lawmakers in the 2020 legislative session to address key issues that are impacting our communities,” Leising said. “Specifically, I am looking forward to addressing ILEARN and school accountability. As a member of the Senate Committee on Education and Career Development, I intend to work to keep this year’s ILEARN scores from having a negative impact on schools, educators and students.”As the 2020 session gets underway, Leising encourages residents of Senate District 42 to contact her with any questions or comments they may have. Leising can be reached via email at [email protected] or by phone at 800-382-9467.last_img read more

Marin Cilic and Federico Delbonis to open Davis Cup final

first_imgCroatia’s top-ranked player Marin Cilic and Argentine Federico Delbonis will get the 2016 Davis Cup final underway in the tie’s opening singles rubber on Friday, followed by a clash between Ivo Karlovic and Juan Martin Del Potro.World number six Cilic, the 2014 U.S. Open winner, will start as a strong favourite against Delbonis while Karlovic returns to Croatia’s Davis Cup squad after a four-year absence to face 2009 U.S. Open winner Del Potro. (Also read: Rafael Nadal’s participation in 2017 Barcelona Open confirmed)Thursday’s draw in the iconic Vatroslav Lisinski concert hall also pitted Croatia’s Franko Skugor and Ivan Dodig against Leonardo Mayer and Guido Pella in Saturday’s doubles.Cilic will take on Del Potro and Karlovic is scheduled to face Delbonis in Sunday’s reverse singles. (Also read: Kei Nishikori targets big tournaments after successful 2016)Croatia, winners in 2005, are bidding for their second title while quadruple runners-up Argentina are looking for their first, standing out as the only nation to have lost four finals without lifting the trophy.Argentina have a 3-0 Davis Cup record against Croatia, winning quarter-finals in 2002 and 2012 in Buenos Aires and 2006 in Zagreb.last_img read more