Furman Center Report Finds Fewer New Mortgages Go to Blacks and Hispanics
A new report by the Furman Center for Real Estate & Urban Policy, a joint initiative of the New York University School of Law and the Robert F. Wagner Graduate School of Public Service at NYU, shows that the number of new mortgates to blacks and Hispanics plummeted in New York City in 2007. Meanwhile, according to the report, released in October, 2008, that total held steady for white borrowers.
The report found that risky high-interest loans declined -- a silver lining, according to the researchers, who used data released in September, 2008 under the Federal Home Mortgage Disclosure Act.
The Furman Center is dedicated to providing objective academic and empirical research on the legal and public policy issues involving land use, real estate, housing and urban affairs in the United States, with a particular focus on New York City. Its Director is Law School Professor Vicki L. Been of the Law School and its Co-director is Professor Ingrid Gould Ellen of NYU Wagner.
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