Less Productive Retail Year Shows Higher Denial Rates
September 10, 2001
A higher percentage of white and minority loan applicants were turned down in 2000 than in 1999 by the country’s top 100 retail lenders despite a decline in retail production, according to Inside Mortgage Compliance’s analysis of 2000 Home Mortgage Disclosure Act data. The latest HMDA data show retail originations by the top 100 retail lenders were down last year by 8 percent.