SNAPSHOTS OF FINANCIAL DISCRIMINATION:

• Approximately 30% of borrowers with sub-prime loans have credit scores that would have qualified them for a prime interest rate loan (Center for Responsible Lending).

• In the Twin Cities, a white family earning $39,000 is more likely to receive a mortgage than an African-American family earning $157,000 (U of MN Institute on Race and Poverty).
  

• In the 7 county metro area, 81.4% of white households owned their own homes in 2010, while only 30.4% of African American households did. Between 2000 and 2010, Black homeownership in Minneapolis fell from 32% to 21%. The national average African American homeownership rate in 2009 was 46.2% (US Census Bureau 2009).

• Between 2005 and 2009 inflation adjusted median wealth fell by 66% among Hispanic households and 53% among Black households, compared with 16% among white households. (Pew Research Center)
  

• According to a national NCRC study, on several comparisons of white vs minority borrowers, the Twin Cities metro area fared among the worst in the country for levels of differential treatment; for instance, the Twin Cities had a) the fourth worst disparity in high-cost lending to middle- and upper-income Hispanic vs. middle- and upper-income White females; b) the fourth worst disparity in lending to low-and moderate income African American vs low- and moderate income White males; c) the worst disparity in the country in high –cost lending to low- and moderate- income Hispanic vs low- and moderate-income white females.

• In 2011, there were 4,953 foreclosures in Hennepin County, which is around 5 times the average rate before the foreclosure crisis began.
  

• A recent Home Ownership Center (HOC) study found that St Paul homeowners in foreclosure lost an average of $60,300 in equity. If we multiply that average by the 1,719 foreclosures that took place in Minneapolis in 2011, our residents lost $103,655,700 in equity last year.