Paying More for the American Dream: A Multi-State Analysis of Higher-Cost Home Purchase Lending
Contributing Organization(s): Woodstock Institute
Author(s)/Creator(s): Jim Campen; Saara Nafici; Adam Rust; Geoff Smith; Kevin Stein; Barbara van Kerkhove
Publishing Date: 2007-03-01
Issue Areas: Consumer Protection; Economic Development
Ownership/Rights Info: Please consult the copyright holder before using or repurposing this information.
File info: 21 pages; 1.99 MB file size
This report demonstrates that African-American and Latino borrowers are paying more than their white counterparts for home purchase loans in six geographic areas: Boston, Charlotte, Chicago, Los Angeles, New York, and Rochester. This review of federal lending data shows dramatic disparities. For example, in New York, African-American borrowers were five times more likely to receive higher-cost home purchase loans than were white borrowers.
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