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Highlights Of 2004-2006 Subprime Rate Lending By
Race And Ethnicity
In conclusion, the pattern and trend of subprime rate lending
during 2004-2006 indicate that Whites are likely to have
a higher volume of loans that might experience mortgage
defaults and foreclosures, but Blacks and Hispanics are
more likely to be disproportionately impacted, and these
events are more likely to be heavily concentrated in high
minority neighborhoods. (Figure 4) The HmdA data show
a consistent pattern where the percent of subprime rate
loans increase as census tracts become increasingly more
minority.
FIGURE 4: 2004-2006 PERCENT OF SUBPRIME RATE LOANS BY TRACT PERCENT MINORITY
20 The Subprime Lending Crisis, The Economic Impact on Wealth,
Property Values and Tax Revenues, and How We Got Here, Report and
Recommendations by the majority Staff of the Joint Economic Committee,
Senator Charles E. Schumer, Chairman, Rep. Carolyn B. maloney, Vice
Chair, October, 2007, pg. 13-14, http://jec.senate.gov/documents/Reports/
10.25.07OctoberSubprimeReport.pdf
Page 11 of 27 The Demographic Impact of the
Subprime Mortgage Meltdown