Urban Institute: Mortgage denials for black borrowers worse than thought

Mortgage lending is so tight, more people aren’t even bothering to apply. Urban Institute researchers believe more than 1 million mortgages could have been offered in 2015 if more balanced.

As the housing market continues its slow march toward recovery, new data suggests the climb remains steeper for minority races. Based on Zillow’s latest homeownership data, the company estimated.

Black and Hispanic homebuyers are significantly more likely to get turned down for a conventional mortgage loan, according to new data. A recent analysis from Zillow shows that in 2016, nearly 21% of black applicants were denied a conventional loan, while 15.5% of Hispanics were. Those rates are down from 2007, when black applicants were turned down 34.3% of the time and Hispanics faced.

Research assistant of Urban Institute Karan Kaul agrees that the increased DTI is better than the past where you wouldn’t be able to get a mortgage with a 47 or 48 percent DTI. He says compensating factors such as higher credit score, also helps "keep default risks under control and safer for lenders to approve high-DTI applicants.

Fannie Mae announces latest sale of non-performing loans WASHINGTON, May 15, 2018 /PRNewswire/ — Fannie Mae (OTC Bulletin Board: FNMA) today announced its latest sale of non-performing loans, including the company’s thirteenth Community Impact Pool.

The Treasury’s recommendations come amid an uptick in scrutiny of the community lending law, following a February report by Reveal from The Center for Investigative Reporting that exposed a troubling.

Urban Institute: Mortgage denials for black borrowers worse than thought – Turns out that by some measures, it might be actually worse, according to the Urban Institute and their reading of Home Mortgage. rates for all applicants." According to HMDA, at least 16% were.

Congress is considering whether to remedy many of the most punishing regulatory elements of the Dodd-Frank Act, including revamping the structure of the Consumer Financial Protection Bureau. out.

Racial differences in mortgage denials over the housing cycle: evidence from U.S. metropolitan areas. We explore differences in mortgage denials between Black and White applicants.. Black borrowers are denied more frequently than White borrowers, but this difference in denial rates.

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