New Data Shows Important Market Segments Remain Locked-out of Conventional Mortgages in Slowly Recovering Housing Market
The 2013 Home Mortgage Disclosure Act (HMDA) data confirms a persistent lack of access to the conventional mortgage market for African-Americans, Latinos, and middle class families. It is well documented that people of color and low wealth families received a disproportionate share of foreclosures due to being targets of mortgage loans with risky features that were not well underwritten. Today...