Loans to Minorities Up Last Year, Lenders Targeted Hispanic Market
October 26, 2004
Minority lending was at a brisk pace in 2003, with mortgage lenders showing a growing appetite for Hispanic borrowers, according to Inside Mortgage Compliance’s analysis of Home Mortgage Disclosure Act data. Overall, the top 50 minority lenders accounted for 66.0 percent of the industry’s minority business last year, which totaled 3,620,380 loans, and more than half – 56.6 percent – of total loans to whites. …