America remains marred by inequality as major discrepancies persist in access to opportunity largely on the basis of race. Unequal lending practices have both excluded and exploited predominantly minority communities. This study aims to assess the prevalence of biased home mortgage lending practices through a case study of lending practices in Denver, Colorado. Using HMDA data from 2007-2013, this study examines the extent of lending discrepancies and how they have changed across varying financial and regulatory conditions stemming from the build up to and fall out from the financial crisis of 2008. The results of this study suggest minority applicants are denied loans and receive subprime loans at higher rates than white applicants. Furthermore, applications for loans in predominantly minority neighborhoods are subjected to greater rates of loan denial and subprime loans than majority white neighborhoods. In addition, white applicants were the main beneficiaries of the low home purchase prices following the financial collapse.
The author has given permission for this work to be deposited in the Digital Archive of Colorado College.
Colorado College Honor Code upheld.
Includes bibliographical references.
The author has given permission for this work to be deposited in the Digital Archive of Colorado College.
Colorado College Honor Code upheld.
