The 2018 overall rate of denial for all applications was 9.8%. Minorities, however, are being denied more frequently. What causes them to be denied, and what can lenders do to help these borrowers? Editor’s note: This feature originally appeared in the November issue of MReport.
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Anne DeSimone founded Bankers Advisory in 1986, a mortgage compliance audit and consulting firm based in Lexington, Massachusetts. She led a staff of attorneys and industry experts in the compliance audits of over half a million mortgages, representing lenders from all regions of the country. DeSimone has authored more than 40 best-practice guides and 600 articles for industry professionals on the topic of fair lending, consumer compliance, and mortgage best practices, as well as numerous books and educational resources.