Mar 14
2024
Mortgage lending lags to Black applicants in Buffalo
This is the first of two stories on the impact of lending practices on homeownership by Black residents in Erie and Niagara counties. The second story, outlining possible solutions, is here. Black applicants are twice as likely to be denied a home mortgage as the overall population in Erie and Niagara counties, an Investigative Post analysis has found. What’s more, the region’s 18 percent rejection rate for Black applicants in 2022 was higher than in all but a handful of other major metro areas nationally. The gap between the denial rate for Black applicants and the overall mortgage denial rate[...]