An investigation has found that lenders were more likely to deny home loans to borrowers of color because of a bias hidden in mortgage algorithms.
The study by the Markup, released in conjunction with the Associated Press, found that lenders were more likely to deny borrowers of color than white borrowers with similar financial backgrounds. The investigation looked at over 2 million conventional mortgage applications from 2019, holding 17 different factors even to achieve an apples-to-apples comparison.
The statistical analysis found that lenders were 80 percent more likely to reject Black applicants than white ones, 70 percent more likely to reject Native Americans, 50 percent
Read More At: Article Source