Same-sex couples face discrimination in home finance
The National Community Reinvestment Coalition has analyzed new data available to researchers for the first time to determine borrower patterns among same-sex couples.
Startling data analyzed by the National Community Reinvestment Coalition available to researchers for the first time has shed light on borrower patterns among same-sex couples, in comparison to different-sex couples. The NCRC’s research question was: Will same-sex couples pay higher closing costs and more interest on mortgage loans than different-sex couples?
On February 11, the U.S. Department of Housing and Urban Development (HUD) announced that it would enforce the Fair Housing Act to prohibit discrimination based on sexual orientation or gender identity. HUD made the announcement in response to the executive orders previously signed by President Biden late last month.
Jesse Van Tol, CEO of the National Community Reinvestment Coalition, made the following statement: “We are glad to see that HUD is moving forward to implement President Biden’s executive orders without delay, and taking strong action to prohibit housing discrimination, which is so often faced by the LGTBQ+ community.
“This community faces some of the highest rates of homelesses, which stems in large part from discrimination. They also face discrimination at many homelesses shelters.
“Full enforcement of the Fair Housing Act to prohibit discrimination on the basis of gender identify or sexual orientation was long overdue, and we applaud HUD for moving quickly.”
More background on lending discrimination faced by same-sex couples in the mortgage arena:
