R.E.AD 12/18- Folks don't really care about the Navy Federal "news". Here are 3 questions to ask if your loan is denied.
Episode description
I discuss the CNN article concerning Navy Federal's discriminatory data. I also discuss question to ask when interviewing your mortgage lender to make sure they are a good fit for you. I also discuss 3 questions to ask your mortgage lender if your loan is denied
The largest credit union in the US has the widest disparity in mortgage approval rates between White and Black borrowers of any major lender, a trend that reached new heights last year, a CNN analysis found.
Navy Federal Credit Union, which lends to military servicemembers and veterans, approved more than 75% of the White borrowers who applied for a new conventional home purchase mortgage in 2022, according to the most recent data available from the Consumer Financial Protection Bureau. But less than 50% of Black borrowers who applied for the same type of loan were approved.
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