Real estate lenders eye 'emerging' markets

Change in perspective needed to reach minority, immigrant communities

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SAN FRANCISCO–The so-called emerging markets of minority and immigrant populations often have intense brand loyalty, and yet they largely remain an untapped source of potential income for the mortgage industry.

To reach those potential home buyers, mortgage lenders must have employees who look and sound like and relate to their communities, California Congressman Xavier Becerra said Tuesday at the Mortgage Bankers Association’s annual convention.