The nation’s largest credit union—Navy Federal—has been found to have “the widest disparity in mortgage approval rates between White and Black borrowers of any major lender,” according to a CNN study of CFPB lending data.
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Study: Black Homebuyers More Likely to be Denied for Mortgage
While racial disparities in housing pose challenges for homebuyers nationwide, a new report from LendingTree revealed that in the 50 largest U.S. metros, Black Americans are nearly 2% more likely to be denied a mortgage than the overall population.
Read More »High-Opportunity Areas Have More (But Less Affordable) Homes for Sale
While many Americans continue to struggle with housing affordability, a new study from Redfin shows that homes in high-opportunity neighborhoods are not only selling for roughly $130,000 more, but they are also disproportionately white. Meanwhile, homes in low-opportunity areas are becoming less affordable due to gentrification.
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