MCBC Releases New Report on Mortgage Lending Patterns; Black and Latino Shares of Conventional Loans Well Below Household Shares

Report focuses on use of Government Backed Loans

Boston, MA (December 12, 2014)- Blacks in Boston make up 21% of households but received only 4% of conventional home-purchase loans in the city, according to a new report on mortgage lending patterns by the Massachusetts Community & Banking Council (MCBC). Latinos made up 14% of Boston households but received only 3% of conventional home-purchase loans. However, positive impacts in the
relative performance of licensed mortgage lenders were seen for the first time in 2013 from the implementation of the Mortgage Lender Community Investment regulation.

In its twenty-first annual report on mortgage lending patterns, MCBC provides information on 2013 mortgage lending in the City of Boston, in Greater Boston, in Massachusetts and in each of the state’s thirty-three largest cities and towns. Changing Patterns XXI: Mortgage Lending to Traditionally Underserved Borrowers & Neighborhoods in Boston, Greater Boston and Massachusetts, 2013 was prepared for MCBC by Jim Campen, professor emeritus of economics at UMass Boston.

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