The black population of Baltimore is double that of the white population, but in 2013, banks made more than twice as many mortgage loans to whites in the city as they did to blacks, the New York Times reported today. The stark difference in mortgage lending, derived from the most recent government mortgage data, is the focus of a new study that will be released today by the National Community Reinvestment Coalition, a consumer advocacy group. Some bankers contend that the tougher stance of the government since the 2008 financial crisis has reduced the number of borrowers who qualify for loans and increased the likelihood that the banks will have to take losses if they take back loans backed by the government. As a result, according to these critics, less-creditworthy borrowers, many of them minorities, are being denied mortgages.
