HMDA Data Show Greater Incidence of Higher-Priced Loans to Blacks, Hispanics

摘要

An analysis of 2005 Home Mortgage Disclosure Act (HMDA) data shows a higher incidence of higher-priced loans to blacks and Hispanic whites than to non-Hispanic whites, but the extent to which discrimination may have been a factor could not be determined. The study was reported in the Federal Reserve Bulletin. Higher-priced loans, for HMDA reporting purposes, are defined as first mortgages with an annual percentage rate (APR) at least three percentage points higher than the rate on Treasury securities with comparable maturities and junior liens with a spread above Treasuries of at least five percentage points.