Newly Released Data Continue to Show Signs of Danger for New York City's Homeowners, NYU Analysis Concludes

Furman Ctr. Contact: Amy Armstrong 212.998.6697

Despite a small decline between 2005 and 2006, New York City’s rate of subprime lending remains much higher than the rest of country and other large cities

Disparities persist in 2006: Black borrowers in New York were four times more likely to receive subprime loans as White borrowers; Hispanic borrowers were three times more likely

Newly released data from the Home Mortgage Disclosure Act (HMDA) show that for the first time this decade, the national rate of subprime lending decreased in 2006, according to an analysis by the Furman Center for Real Estate and Urban Policy a joint initiative of NYU’s School of Law and the Robert F. Wagner School for Public Service. After several years of incremental increases, the national rate dropped five percentage points, from 17.9 percent to 12.8 percent between 2005 500

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