Digital mortgage applications are having the positive effect of reducing discrimination of black and Latino home buyers, a new study shows. The study, by the National Bureau of Economic Research, reveals that algorithmic lending reduces discrimination by up to 40% compared to applications which are dealt with face-to-face. With digital mortgage applications, the interest rates
Foreclosure crisis still impacts black and Hispanic communities
May 1, 2019 by
Millions of homeowners across the country lost their homes in the foreclosure crisis, missing out on the opportunity to regain and grow their net wealth as the housing market recovered. But in black and Hispanic communities, the foreclosure crisis hit especially hard, and homes in those areas have yet to fully recover, according to a
Zillow: Blacks & Hispanics twice as likely to be refused a mortgage
November 7, 2016 by
White and Asian borrowers are more likely to be approved for a conventional loan than black or Hispanic borrowers, according to the latest federally released data from the Home Mortgage Disclosure Act (HMDA).
