Black Mortgage Applicants with Almost Highest Income Approved at Same Rate as White Applicants with Lowest Income
By Shawn Donnan, Ann Choi, Hannah Levitt, and Christopher Cannon March 11, 2022 Nationwide, only 47% of Black homeowners who completed a refinance application with Wells Fargo in 2020 were approved, compared with 72% of White homeowners, according to a Bloomberg News analysis of federal mortgage data. JPMorgan Chase & Co., the largest U.S. bank by assets,…
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