Data: Latinos in Iowa City faced worst US bias in home loans
IOWA CTY, Iowa (AP) — Latinos seeking conventional home loans in the Iowa City area were nearly four times more likely to be denied than non-Hispanic whites in 2016, the widest disparity in the nation, a new analysis of federal data shows.
The findings suggest racial inequality in the mortgage market in the progressive college town and appear driven by a high rate of rejections for prospective Latino borrowers reported by a single financial institution, Hills Bank, according to the analysis of millions of records by Reveal from The Center for Investigative Reporting. The analysis controlled for factors such as applicants’ income, loan amount, neighborhood that could affect the likelihood of denial…
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