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Home » Store » News » Wells Fargo Tops in 2003 Minority Lending, HMDA Data Show; Subprime Lenders Play a Major Role

Wells Fargo Tops in 2003 Minority Lending, HMDA Data Show; Subprime Lenders Play a Major Role

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Mortgage lending to African-Americans and Hispanics increased rapidly in 2003, with most of the industry’s top originators also ranking high in minority lending, according to a new analysis of Home Mortgage Disclosure Act data. Wells Fargo, through its various HMDA-reporting units, originated some 289,428 mortgage loans for minority borrowers in 2003, or 8.0 percent of the total minority mortgage market. The company was the top lender to blacks, 73,252 mortgages, and Hispanics, 102,567 loans. …
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