Sentences with phrase «white borrowers»

As with overall borrowing, nearly 4 - in - 10 (39 %) of Black borrowers drop out, compared to 29 % of white borrowers.

For instance, an investigation by the National Fair Housing Alliance into discriminatory auto lending revealed white borrowers with lower credit scores were given cheaper financing options than non-white consumers with better credit scores.

That's one reason why more than 20 % of African - American borrowers have credit scores of less than 620, compared to just over 5 % of non-Hispanic white borrowers.

In the historically black neighborhood of Point Breeze in Philadelphia, financial institutions collectively put $ 154 million worth of home loans into the hands of white borrowers between 2012 and 2016.

Collectively, financial institutions put $ 154 million worth of home loans into the hands of white borrowers there between 2012 and 2016, even as they denied nearly twice as many home loans to African Americans as they made in the neighborhood.

In their findings, NFHA uncovered that more than half the time white borrowers with weaker credit profiles received less expensive financing options and more favorable treatment than their non-white counterparts who were more financially qualified.

The group includes in the filing a study that found African - Americans living in the Detroit area were 70 percent more likely to wind up with a subprime loan than were white borrowers with similar financial characteristics.

Last year, Wells Fargo agreed to pay $ 175 million to settle a lawsuit brought by the Justice Department, which alleged that Wells Fargo had «discriminated by charging approximately 30,000 African - American and Hispanic wholesale borrowers higher fees and rates than non-Hispanic white borrowers.»

Hispanic applicants in Denver also saw mortgages denied at nearly twice the rate as white borrowers — 10.3 percent — while Asian applicants were denied 8.2 percent of the time.

In 2013, 22 % of black and 16 % of Hispanic borrowers, respectively, had lower credit scores (a FICO score below 660), compared with only 10 % of white borrowers.

It sent buyers to eight dealerships in eastern Virginia and found that white borrowers with weaker credit profiles got less expensive financing options and more favorable treatment than their nonwhite counterparts who were more financially qualified.

(African American borrowers were 76 percent more likely than white borrowers to have lost their homes to foreclosure during the recession, according to the Center for Responsible Lending.)

Filed in Manhattan federal court, the government's complaint accused the bank of violating the US Fair Housing Act and the Equal Credit Opportunity Act by charging thousands of African - American and Hispanic borrowers more for home loans than white borrowers with the same credit profile.

According to the NYTIMES, «GFI, which says on its Web site that it originates more than $ 1 billion a year in mortgages, admitted that an analysis by the federal government showed that it charged higher rates and fees to black and Hispanic borrowers than to white borrowers.»

Investigation uncovered that white borrowers with weaker credit profiles received less expensive financing and more favorable treatment than their non-white counterparts who were more financially qualified.

Spitzer sent letters of inquiry to mortgage providers including Citigroup Inc, HSBC Holdings Plc, JPMorgan Chase & Co and Wells Fargo & Co in response to data he said appeared to show a significantly higher percentage of high - interest home mortgage loans issued to black and Hispanic borrowers than to white borrowers.

Some argue that it is because minorities as a group possess lower average credit scores than white borrowers.

National City Bank is being accused by two government agencies of charging African - American and Hispanic borrowers more on their mortgages when compared to white borrowers with similar credit histories.

As a result, 98 percent of the loans the FHA insured between 1934 and 1962 went to white borrowers.

Denver's numbers mirror the national trend — nationwide, black and Hispanic borrowers were about twice as likely to be denied a conventional loan than white borrowers, according to HMDA data.