Hispanics Rejected by 2-to-1 Ratio. Mortgages

“A share of an estimated $200 billion in mortgages is up for grabs for any lender which can figure out how to safely evaluate the non-traditional credit habits of Hispanic families who desire to own a home, according to a group of Latino housing professionals.

The thousands of Hispanics who have achieved their ownership goals have done so largely because lenders have lowered their credit standards and raised their debt-to-income ratios. But that “may not be the healthiest solution,” either for consumers or lenders, said Frances Martinez Myers, chairman of the National Association of Hispanic Real Estate Professionals at the group’s annual convention in Las Vegas last week.”

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