Recursion data was cited in an article published on December 7 in the Washington Post “The racial homeownership gap is widening. New rules might make it worse. ” The article states that more stringent capital requirements facing banks will make mortgages more expensive for cash-poor borrowers, which tend to disproportionately impact minority households.
The article goes on to say that non-bank lenders not subject to these rules have stepped in to provide mortgages as banks have reduced their presence in the market. “In 2014, four of the top five mortgage lenders were banks; in 2022, only Wells Fargo remained in the group, according to the mortgage data analysis firm Recursion.”
Recursion is pleased to provide accurate and timely data to inform the public debate on these important issues.