A case study of social movement or collective action event by ethnic Essay

A case study of social movement or collective action event by ethnic group(s) - Essay Example Discussions of discrimination can raise the blood pressure of even the most neutral person. On the one hand, there are those who steadfastly claim there is no such thing as discrimination in the mortgage industry: everyone is an â€Å"equal opportunity housing lender,† after all; it says so right on the application. On the other hand, there are those who have examined the issue with as much neutrality as possible and have arrived universally at one conclusion: all things being equal (such as similar credit reports, income, and down payments) African Americans are the victims of predatory, abusive, and discriminatory mortgages at a sickening rate. Just a quick glance at a few numbers: In 1993, approximately 100,000 subprime loans were originated. In 2001, more than a million subprime loans were originated. In 2008, more than 65 percent of subprime loans were refinances, not direct purchase (ACORN.org). Racial discrimination is often hidden and it certainly can be inadvertent. This does not excuse banks and mortgage brokers accused of discrimination. Three major organizations address this as a part of their foundation missions, and steps have been taken to remedy the problem, such as neutral research, education, and collective action. Before we can understand what organizations and the collective actions of individuals do to expose the problem of discriminatory lending, we must define what we mean by predatory and abusive mortgage loans. Once we have created a broad definition of discriminatory lending, we must seek to understand how the African American community can fall victim to such practices on a broad level through a culture of overt and inadvertent discrimination. The major leaders and organizations involved in exposing the problem have a multi-pronged approach to the problem, and institutional recognition of the problem lends strength to individual collective action. Final ly, there are several effective