Quote:
Originally Posted by FMCoug
Yep. The market is not racist. If there was money to be made in redlined areas, they would not have been redlined.
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That is just absolutely not true. What are you basing that statement on? The market is not racist, but people certainly can be. It is only within the last 15 years or so that predictive modeling became the predominant method of determining credit worthiness. Before that time, almost all of the decisions were made by people, who had their own predjudices. Even today, in many industries and companies, a lot of loan underwriting is done by people's judgements, which leads to a whole ot of inefficiencies.
I don't mean this as a rude question, I am just trying to get where you are coming from. Do you have a history in consumer lending?