People & News

"Red lining" and home loans

Established under the Home Loan and Mortgage Disclosure Act (63 of 2000), the eventual database will be able to track the lending patterns of major banks and reveal potential "red lining" practices. Which practices deprive the poor of access to housing finance.

Aaref Osman is to head the office, which opened two weeks ago. Housing Minister Bridgette Mabandla told Parliament's housing portfolio committee that red lining practices would result in the decay of cities and an increase in informal settlements.

Home Loan and Mortgage Disclosure Act

Article in BusinessDay

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