Sandra Phillips
Department of Retail Management and Consumer Studies, 220E Slocum Hall, Syracuse, NY 13244 - 1250
Nancy J. Scannell
Department of Business Administration, College of Business and Manag�ement Room CBM77
University of Illinois at Springfield, 4900 Shepherd Road, Springfield, IL 62794-9243 USA
ABSTRACT
This Paper Profiles discrimination theory and mortgage market experiences encounted by African American vis-à-vis White Loan applicants. The paper examines and analyzes financial instructions’ mortgage lending activities by region of country (United States) and income level in order to uncover discernible patterns that may detect the presence of racially discriminatory practices against African Americans. Lending Institutions’ reports, mandated by the Home Mortgage Disclosure Act (HMDA) of 1990, are compared for years 1990, illuminated by a Boston Federal Reserve Bank (Fed) study, and 1995. Findings indicate that some headway was made over the years in terms of diminished African American loan rejection rates. Nonetheless, discrimination against African American in the mortgage market is a source of debate that prevails to the present day.
PDF References Citation
How to cite this article
Sandra Phillips and Nancy J. Scannell, 2003. Bank Financing and Discrimination in the Consumer Mortgage Market: An Application of HMDA Data. Journal of Applied Sciences, 3: 4-8.
DOI: 10.3923/jas.2003.4.8
URL: https://scialert.net/abstract/?doi=jas.2003.4.8
DOI: 10.3923/jas.2003.4.8
URL: https://scialert.net/abstract/?doi=jas.2003.4.8
REFERENCES
- Feagin, J.R. and C.B. Feagin, 1986. Discrimination American Style: Institutional Racism and Sexism. 2nd Edn., Krieger Publishing Co., Florida, ISBN-10: 0898749158, pp: 241.
Direct Link - Bradford, C. and A.B. Ashlay, 1986. Assuming a can opener: Economic theory`s failure to explain discrimination in FHA lending markets. Cityscape, 2: 77-89.
Direct Link - Canner, G.B. and D.S. Smith, 1992. Expanded HMDA data on residential lending: One year later. Federal Reserve Bull., 78: 801-824.
Direct Link - Swire, P.P., 1995. The persistent problem of lending discrimination: A law and economics analysis. Texas Law Rev. Arch., 73: 787-869.
Direct Link - Browne, L.E. and G.M.B. Tootell, 1995. Mortgage lending in Boston a response to the critics. New Engl. Econ. Rev.
Direct Link - Berkovec, J.A., G.B. Canner, S.A. Gabriel and T.H. Hannan, 1994. Race, redlining and residential mortgage loan performance. J. Real Estate Finance Econ., 9: 263-294.
Direct Link - Berkovec, J.A., G.B. Canner, S.A. Gabriel and T.H. Hannan, 1996. Race, redlining and residential mortgage loan performance. J. Policy Dev. Res. 2:(1).
Direct Link - Yinger, J., 1998. Housinh discrimination is still worth worrrying about. Hous. Policy Debat, 9: 893-927.
Direct Link - Munnel, A.H., G.M.B. Tootell, L.E. Browne and J. McEneaney, 1996. Mortgage lending in boston interpreting HMDA data. Am. Econ. Rev., 86: 25-53.
Direct Link