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
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).
