They were forced to a point from passing legislation making it discrimatory to deny a minority, who doesn't meet the (then) standard qualification for a home loan and refuse him.
It did let low income whites in on it, but was written specific for "minorities" haa but with a equal result and outcome for both.
*feeling like a non minority yet?*
Those financial wizards saw the profit in that and took advantage.
With it being sold to the people as some feel good thing for those unfortunate struggling minorities who just can't quite afford a house of their own and need just a little help, lol,yeah and to right some wrongs, can't forget that.
That makes it almost perfect, what Senator or President would stop the predatory lending that, yes..targeted those that...well couldn't really afford a house to begin with. Oh not very likely.
But I could see one person standing up and saying " we have to raise the bar back up to who qualifies for the home loans or risk the collapse of the whole market.
And somebody else drowning him out with accusations of the hate and racism against minorities because it will disqualify so many.
Taking it to a emotional level instead of a rational thought based level.
Maybe that's what makes the smart people among us.....and the stupid ones too.
Banks were forced to quit discriminating against minorities.
They lost in court because they would give loans to whites and not to blacks even though they had equivalent financials.