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The earliest immigrant population was predominantly Western and Northern European but, in the late 1800s, immigrants' origins shifted to Eastern and Southern Europe. Many Americans blamed these new immigrants for perceived increases in corruption, conflict and other social problems. These views may have been reflected in neighborhood evaluations. The Home Owners' Loan Corporation (HOLC) (created by the Federal Housing Authority in 1933) was commissioned to produce insurance risk assessment maps for large cities. One of the most important factors determining neighborhood grades was the presence of an immigrant population. This study uses HOLC maps and census data to determine whether new immigrants' neighborhoods were more likely to be poorly graded compared to that of old immigrants. We also examine whether children of immigrants experienced similar neighborhood outcomes. In doing so, we determine the impact of the racialization of ethnic whiteness (i.e. the racialization of Southern and Eastern Europeans) on neighborhood grades.