Though blacks and Hispanics typically have lower incomes than white borrowers, income differences do not explain the disparities — very-high-income blacks and Hispanics were more likely to receive subprime loans than very-low-income whites. In fact, very high income blacks were 3.8 times more likely to receive subprime loans for home purchases than very low income whites, and 1.9 times more likely to receive subprime refinance loans.
Twin Cities in Crisis: Unequal Treatment of Communities of Color in Mortgage Lending
More: University of Minnesota ‘redlining’ report: banks still hurting non-white homebuyers
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