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Banks unfairly deny mortgages to African-Americans and Latinos – report

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Blacks and Latinos were more than twice as likely as comparable whites to. a large bank at the height of the housing boom – high-income black. of the American Sociological Association, he analyzed Home Mortgage. 2.8 times more likely to be denied for a loan, and Latinos were two times more likely.

Fifty years after the federal Fair Housing Act banned racial discrimination in lending, African-Americans and Latinos continue to be routinely denied conventional mortgage loans at rates far.

In the year 2015, over 6 million home purchase mortgages were realized, yet a mere 51,202 (2.7%) were done through conventional loans directed to Black home buyers. From the same category, non-Hispanic Whites accounted for 1.36 million conventional loans, while Latinos accounted for 96,975.

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 · Emily Edmonds, the consultant who worked on the report, says that, according to HMDA data, Latino residents in Durham County are seeking and receiving mortgages.

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 · The difference between African Americans and whites with respect to credit constraints-loan denials and being discouraged from applying for a loan-widened to a gap of 95.8 percent between 1998.

Want to know which banks target people of color for loans with high interest rates, steep fees or reverse mortgages? Or which banks deny home loans to African Americans and Latinos even when their income shows they could easily cover the monthly payment? You won’t be able to find out if new.

But today, African Americans and Latinos continue to be routinely.. Jason deBruyn reports on racial disparities in lending in North Carolina, where. And for the last 40 years, banks have had a legal obligation under the.

A report from the Center for Investigative Journalism, a nonprofit organization founded in 1977, revealed that many banks are still refusing loans to African Americans and Latinos of good credit standing relative to the number of loans granted Whites of the same standing. The banks contacted denied any discrimination.

He introduces them to the “culture of their new market,” where it’s expected that credit will be extended fairly. the report said. For example, out of 130 mortgage applications by blacks during.

Reveal's analysis of mortgage data found evidence of racial. Act records analyzed by Reveal from The Center for Investigative Reporting.. African Americans faced the most resistance in Southern cities – Mobile, New Jersey- based TD Bank, which denied a higher proportion of black and Latino.

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