AFFIL’s Executive Director authors “Changing Patterns XIV,” shows minority communities targeted by predatory lenders:  Jim Campen’s fourteenth annual report on mortgage lending to traditionally underserved neighborhoods and borrowers, “Changing Patterns XIV,” finds that black and Latino borrowers were disproportionately the recipients of loans with high interest rates in 2006.  The report shows that even high-income minorities paid far more for their loans than their white counterparts, as 53% of African Americans making at least $98,000 a year received mortgage loans with high interest rates, compared with 13 percent of white borrowers.  Overall, the study shows that only 26% percent of black applicants for a home-purchase loan got an interest rate near the market average, whereas 64 percent of white applicants got loans with market rates.

Multi-state-HMDA-Report.pdf