FSIC Blog Post – Video Highlights Hidden Fees in Housing Market

In a new video, the Market Institute’s Charlie Sauer examines the rise in sales prices and interest rates of homes across the country and scrutinizes the higher-than-anticipated costs Americans face in the home-buying process.  In the video, Sauer zeroes in on zoning and land use issues, tariffs on products such as lumber and steel, and companies such as The Work Number that put upward pressure on prices.

Sauer notes that many cities have zoning practices like parking requirements and prohibitions on multi-family homes, which have made construction more expensive, and limited housing supply – exacerbating racial and economic inequality.  Zoning isn’t the only issue, though, as Sauer highlights how restrictive trade policies on major homebuilding components such as flooring, iron, and steel pipes are subject to tariffs, making housing more expensive.

FSIC Video Podcast – “African Americans, Real Estate, and the Impact of Systematic Racism”

May 13, 2022, Kevin B. Kimble, Esq., Founder and CEO, FSIC, and Brady J. Buckner, President, FSIC interview with Thaddeus Dawson, CRA designated member with he National Society of Real Estate Appraisers. In this episode outlines the historical and current effects of systematic racism on property valuation and how it has impacted the long term wealth building prospects for communities of color. This is an FSIC Housing Task Force Project.

FSIC Housing Task Force Blog Post – CFPB Warning to Banks, Credit Unions, and Fintech on Potential Misuse of Artificial Intelligence (AI) Should not Discourage the Proper Use of Technology

Recently, the director of the CFPB, Rohit Chopra, publically warned banks that depending too much on Artificial Intelligence (AI) and algorithmic lending during the mortgage application approval process might lead to fair lending violations.  He contends that all AI-based algorithms have built-in bias and will always have some bias.  Our question to the CFPB is, why haven’t they made the same warning to traditional lenders (banks) whose approval processes result in alarming levels of documented bias against disadvantaged and minority borrowers?

FSIC Housing Task Force – Blog Post – GAO: Alternative Data Is Rare but Could Improve Mortgage Terms for Disadvantaged Communities

One issue our Housing Task Force aims to address is the lack of credit too many consumers face due to the limited information that credit bureaus collect. A recent report from the U.S. Government Accountability Office adds some fresh findings that illuminate the problem.