Lax enforcement of fair housing laws has resulted in a disproportionate number of minorities with high-cost, subprime loans and has contributed the current lending crisis, according to a national report released Tuesday.
The 99-page "Future of Fair Housing" report is the result of a six-month-long, cross-country investigation into the state of fair housing in America, headed up by former Department of Housing and Urban Development secretaries Jack Kemp and Henry Cisneros.
According to the report - which comes 40 years after the Fair Housing Act was put into place - roughly 54 percent of African Americans and 47 percent of Latinos received subprime loans in 2006 compared to approximately 17 percent of whites nationwide. READ FULL ARTICLE
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