Study: Mortgage discrimination against minorities

By: KKCO Email
By: KKCO Email

DENVER, Colo (KKCO) That's according to a study by the Center for Advancing Health at Harvard. The study used federal mortgage data for 2010. In Grand Junction, nearly 25% of hispanics, and nearly 29% of blacks were denied refinance loans. That's compared to nearly 17% for non-hispanic whites. Both Wells Fargo and Bank of America have agreed to pay a combined half-billion dollars to settle allegations of discrimination. Both have denied wrongdoing.

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  • by deadeye Location: gj on Aug 8, 2012 at 11:33 AM
    idiotic. a lending institution will loan money to anyone who qualifies. the color of their skin does not matter, the money is all green. all this study means is that less blacks and hispanics QUALIFY for a mortgage.
  • by cracker on Aug 8, 2012 at 05:51 AM
    the poor beaner card has been played now what?
  • by SAM Location: Grand Junction on Aug 7, 2012 at 05:36 AM
    Here we go again with the discrimination against people that can not and will not provide for themselves and expect everyone elses to pay for what they want or need. It is not discrimination when you are not given something because you do not qualify to have it. Giving mortgage loans to people that could not afford them is exactly what caused the housing crisis. Let's just keep repeating our mistakes until there is nothing left for anyone.
  • by JK Location: GJ on Aug 6, 2012 at 09:39 PM
    How dare they refuse to give loans to people on welfare! (sarcasim) Get out, earn an honest living just about anyone would approve a loan for you. Mortage companies and banks are in the business of making money, not giving it away...
    • reply
      by Agreed on Aug 6, 2012 at 10:38 PM in reply to JK
      Would you give a 100K loan to someone who has rims more expensive than the house they already live in that they have a history of not paying rent? I would not neither. Its not racism or left or right wing bs. Its commen sense.
  • by Hmm on Aug 6, 2012 at 09:06 PM
    The default rate for blacks and hispanics doesn't happen to be somewhat higher than that for whites and asians? This could be the sort of "study" that is really a political device used by the Left and their friends in the media to achieve some policy goal. Since "journalists" are generally innocent of any understanding of mathematics more complex than counting change, it's doubtful that anyone at KKCO could figure out if this "study" was bogus or valid. Further, the usual style is to send the media a press release, which the "journalist" can make minor stylistic change and display for everyone to think that they had actually performed some useful work. The lack of a link to the real study is a good indicator that this is just propaganda.
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