Report claims minorities targeted for higher-cost home loans
Industry says nonprofit's analysis of loan data doesn't support conclusions
By Matt Carter, Wednesday, December 13, 2006.African Americans and Latinos in California were more than three times as likely to take out higher-cost home loans as whites in 2005, according to an analysis of data lenders provide to federal banking regulators.
The raw numbers presented in the California Reinvestment Coalition's report, "Who Really Gets Higher-Cost Home Loans?" are in line with the findings of a Federal Reserve report on the same data, which is collected under the Home Mortgage Disclosure Act.
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