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

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The brief argued that because African-Americans and Hispanics. lenders including Bank of America and Wells Fargo have settled suits filed by Obama’s Justice Department on disparate impact grounds.

PHILADELPHIA – Jonathan Jacobs had almost no savings, a modest income and a credit report. Mortgage Disclosure Act and found 61 metro areas across America where people of color – African Americans,

TRANSCRIPT. NERMEEN SHAIKH: A shocking new investigation by Reveal and The Center for Investigative Reporting has uncovered evidence that African Americans and Latinos are continuing to be routinely denied conventional mortgage loans at rates far higher than their white counterparts across the country. Reveal based its report on a review of 31 million mortgage records filed with the federal.

According to Home Mortgage and Small Business Lending in Baltimore and Surrounding Areas, a report just. banks gave mortgages to. yet Black people are denied mortgages in a wholesale fashion

A shocking new investigation by Reveal and the Center for Investigative Reporting has uncovered evidence that African Americans and Latinos are continuing to be routinely denied conventional.

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.

The report doesn’t get into why Durham applicants were denied for loans. However. White Americans have nearly ten times the wealth of African Americans and eight times the wealth of Hispanic.

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.

Denied Mortgage Loans.. mortgage market needs to be carefully monitored for unfair disparities and fair lending laws need to be enforced. In order to do that, we need to expand and aggressively enforce the Community. poverty in the U.S.3 One difference between the mortgage market 30 years ago and the mortgage market today is that non-bank.

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African-Americans and Latinos, government figures show, get high-interest sub-prime mortgages far more often than whites. Now researchers at the Center for Responsible Lending find those.