Mortgage injustice: Blacks twice as likely to get rejected for a loan

Mortgage injustice: Blacks twice as likely to get rejected for a loan

3 years ago
Anonymous $qOHwDUKgAF

https://www.siliconvalley.com/2020/07/07/mortgage-injustice-blacks-twice-as-likely-to-get-rejected-for-a-loan/

Blacks hear “No” from mortgage lenders twice as often as a typical American borrower.

A report from LendingTree shows a huge racial gap in rejection rates for loans to buy a home. Stats compiled by the online loan marketplace reveal 12.64% of mortgage applicants from Blacks were rejected in 2019 vs. 6.15% for all purchase-loan submissions.