A new analysis from the Urban Institute due out later this week could help shed additional light on social bias and the sad reality of wealth disparities among borrowers of different races. They found, for example, that the total population of black mortgage applicants had a denial rate of 40%, compared with a 75% denial rate for African-Americans in the low-credit-profile group. By comparison, non-Hispanic whites were found to have an overall denial rate of 14%, while low-credit white borrowers were denied 50% of the time. The study also finds that denial rates for the low-credit profile groups across all races have jumped dramatically since 2006. americanbanker/issues/179_101/why-a-twitter-fight-raises-important-questions-about-credit-access-1067718-1.html
Posted on: Wed, 28 May 2014 17:33:18 +0000
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