Baltimore Banner, August 5, 2023, Why aren’t people of color getting more home loans in Maryland? Advocates are pushing for changes
Two advocacy groups are pushing for a state version of the federal Community Reinvestment Act to ensure more equitable treatment of people of color by home lenders.
In Maryland, Black and Latino applicants were denied home loans at a rate 1.6 times higher than white applicants, according to data from the National Community Reinvestment Coalition from 2018 to 2020. In the city of Baltimore, Black applicants were rejected 2.1 times more than white applicants.
Only half of the top 10 mortgage lenders in Maryland were required to meet CRA guidelines, according to the coalition and Economic Action Maryland.
Advocates say a state-level CRA would complement the federal law by assessing performance in individual counties and addressing underserved communities.
