Are Nonbanks Likelier to Lend to Black, Latino Homebuyers?

American Banker, Nov. 30, 2020–Kate Berry (subscription)
As policymakers and consumer advocates seeks ways to narrow the racial gap in homeownership, a new report suggests nonbanks are doing a better job of lending to minorities than banks in the largest state. Independent mortgage bankers say the main reason for the difference in lending to minorities is that nonbanks are focused solely on mortgage lending rather than selling a wide array of products to the same customers.