The Federal Housing Finance Agency‘s (FHFA) inaugural mission report, released Monday, offers a glimpse into the fair lending performance of Fannie Mae and Freddie Mac, showing the agencies continue to back fewer loans to Black and Latino applicants, despite an uptick in applications submitted by those minorities.
The regulator, which supervises Fannie Mae and Freddie Mac’s fair lending activities, said Black and Latino borrowers respectively represented 6.3% and 14.2% of all mortgages the government-sponsored enterprises purchased in the fourth quarter of 2021. But the gap between mortgage acceptance rates for minority and white borrowers “remains persistent,” FHFA wrote.
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