This report examines systemic inequities in the mortgage market, as reflected in neighborhood lending patterns based on race and ethnicity. The authors analyzed 2010 Home Mortgage Disclosure Act (HMDA) data, and compared conventional and government-backed prime mortgage lending in seven U.S. cities, based on borrowers' race and ethnicity and the racial and ethnic composition of neighborhoods.
The report shows that black and Latino borrowers and borrowers in communities of color received government-backed loans -- insured by the Federal Housing Administration (FHA) or guaranteed by the Department of Veterans Affairs (VA) -- significantly more often than did white borrowers. The findings indicate persistent mortgage redlining and raise serious concerns about illegal and discriminatory loan steering.
What to read next
Published by
- Woodstock Institute
- California Reinvestment Coalition
- Neighborhood Economic Development Advocacy Project
- Empire Justice Center
- Massachusetts Affordable Housing Alliance
- Ohio Fair Lending Coalition
- Reinvestment Partners
Copyright
- Copyright 2012 California Reinvestment Coalition, Empire Justice Center, Massachusetts Affordable Housing Alliance, Neighborhood Economic Development Advocacy Project (NEDAP), Ohio Fair Lending Coalition, Reinvestment Partners, Woodstock Institute.
Document type
Language
Geography
Linked Data show/hide