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Home » Store » News » Purchase Lending to Minorities Jumps in 2002, Denials Down

Purchase Lending to Minorities Jumps in 2002, Denials Down

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Home purchase loans to black borrowers and other minorities jumped significantly in 2002, while denial rates were down modestly over the same period, according to 2002 Home Mortgage Disclosure Act data released last week by federal regulators. HMDA data issued by the Federal Financial Institutions Examination Council, showed conventional home lending to black borrowers went up by 32.5 percent last year from 2001. This increase was a far cry from the meager 4.0 percent
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