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

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Half a century ago, the federal Fair Housing Act banned racial discrimination in lending. But today, African Americans and Latinos continue to be routinely denied conventional mortgage loans at.

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In 2016, black applicants in the dayton metro area were 2.1 times. the online platform of The Center for Investigative Reporting.. for bank lending because of the presence of African-Americans or European immigrants, especially Jews. Latinos are routinely denied conventional mortgage loans at rates.

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Fifty years after the federal Fair Housing Act banned racial discrimination in lending, African Americans and Latinos continue to be routinely denied conventional mortgage loans at rates far.

Of the 296,757 home purchase loans issued in California, 48.5 percent went to white homebuyers, according to the report. Latinos got 21.2 percent of the home loans issued, and African-Americans secured just 3 percent despite making up about 6 percent of the state’s population.

The report doesn’t get into why Durham applicants were denied for loans. However. white americans have nearly ten times the wealth of African Americans and eight times the wealth of Hispanic.

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media reports about this crisis, is its roots in the historical discriminatory housing and lending practices. that African-American and Latino borrowers and communities are bearing a. It is a set of unfair and unethical practices that often put the. “The Federal Reserve Bank of Boston Study on Mortgage Lending Revisited.”.

In the 1980s and early 1990s, racial discrimination in mortgage lending. was that banks avoided lending in minority neighborhoods (redlining) and denied applications from blacks and Latinos at. (HUD) reported in 2000 that “subprime loans are five times more likely in black neighborhoods than in white 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.

The skinny: The St. Louis metro area is racially diverse, home to more than 500,000 African Americans. But over two years, none of the 324 home loans made by First National Bank in Staunton went to an African American or Latino. All nine of its branches are in neighborhoods of the metro area that are at least 89 percent white.