A recent report by the Greenlining Institute and the Urban Strategies Council, "Locked Out of the Market: Poor Access to Home Loans for Californians of Color," highlights the stark disparities between whites borrowers and borrowers of color when it comes to access to home loans. Among the report's findings:
-In 2013, Hispanics were nearly 40% of CA’s residents yet received just about 9 percent of all the mortgage dollars lent in CA. They submitted 15.5 percent of applications.
-African American were 6% of CA residents in 2013 yet submitted just under 3% of loan applications and walked away with below 2% of the total mortgage dollars lent in CA.
-Whites exceeded their 40% share of CA residents by double digits submitting 62% of all applications and receiving just below 59% of all dollars lent in CA.
The report studied loans in Southern California, Northern California, and the state's Central Valley.
Read it here.