Industry NewsMortgage

Study: Multicultural borrowers get highest subprime rates

Center calls for regulation to protect minority home buyers
Published on Jun 1, 2006

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by CareyBot

African-American and Latino borrowers with the same credit scores as white borrowers are 30 percent more likely to get higher-cost subprime loans, which charge even higher interest rates than most subprime loans, a new study claims.

The study, released Wednesday by the Center for Responsible Lending (CRL), a nonpartisan research and policy organization, examined 50,000 subprime loans made all over the country, combining this d ...

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