A major credit union serving military members and veterans rejected more than half of its Black conventional mortgage applicants
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While many banks also approved White applicants at higher rates than Black Sborrowers, the nearly 29-percentage-point gap in Navy Federal’s approval rates was the widest of any of the 50 lenders that originated the most mortgage loans last year.
It’s the widest but what’s the rate for the other institutions? Is 29% the worst but the best is only a 4% difference or is it a 20% difference? I’m sure you know exactly what I’m saying, I just find it frustrating that it’s always the best or the worst that gets talked about when it’s the whole portrait that’s important.
