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

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

About the same number of African Americans and non-Hispanic whites live in the City of Brotherly Love, but the data showed whites received 10 times as many conventional mortgage loans in 2015 and 2016. Banks also focused on serving the white parts of town, placing nearly three-quarters of their branches in white-majority neighborhoods.

Philadelphia was one of the largest cities in America where African-Americans were disproportionately turned away when they tried to buy a home. African-Americans and non-Hispanic whites make up a similar share of the population there, but the data showed whites received 10 times as many conventional mortgage loans in 2015 and 2016.

But a year later, when Faroul tried for a loan with Santander Bank, new obstacles arose. An unpaid $284 electric bill appeared on her credit report. “Reveal” investigation, African-Americans were.

Here’s Why Big Banks Are Lending to Fewer Blacks and Hispanics. percentage of overall mortgages issued to African Americans fell to 5% from 8%, while the overall percentage of mortgages.

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NEW YORK (CNNMoney.com) — The housing collapse has made it even tougher for blacks and Hispanics to get mortgages, according to a new government report. While credit has tightened for everyone.

African-Americans and Latinos are being disproportionately denied mortgage loans from eight major banks in comparison with white Americans. The disparity points to a major racial bias in bank mortgage lending across the US.

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1. Had Bank of America taken note of these data, and anticipated that the Department of Justice would do so as well, the bank might well have refrained from the takeover because its assumption of Countrywide’s liability in this and other cases has made the purchase a financial blunder.

duPont-Columbia University Award for Kept Out, a multiplatform investigation that exposed a pattern of troubling home mortgage denials to African Americans and Latinos. banks to give a second look.

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,