Racial Disparities in Mortgage Lending Grew Worse in 2005 at Largest Banks, Study Finds:...

Byline: Inner City Press

NEW YORK, April 10 (AScribe Newswire) -- In the first study of the just-released 2005 mortgage lending data, the watchdog organization Inner City Press / Fair Finance Watch has found worsening disparities by race and ethnicity in the higher-cost lending of some of the nation's largest banks. The trend raises concerns: 2005 is the second year in which the data distinguishes which loans are higher cost, over the federally-defined rate spread of three percent over the yield on Treasury securities of comparable duration on first lien loans, five pe