The dream of home ownership is a universal one. For most people, the word "home" encompasses the idea that where they lay their head belongs to them.
This dream might seem unattainable for many immigrants and minorities. This market, coined the "underserved" market, has particular needs that don't fit in the ideal, traditional lending relationship.
For immigrants, establishing themselves with this country's financial standards isn't an easy feat. Obstacles range from their lack of knowledge of the language to being financially illiterate.
But the obstacles don't stop with the potential borrower. Banks and other lenders also have problems of fitting the needs of this growing population. These needs include cultural and language barriers and religious scruples in the communities that they reach out to serve.
The Latino connection
According to a report, conducted by the Tomas Rivera Policy Institute, entitled El Sueno de su Casa: The Homeownership Potential …