Navy Federal Credit Union rejected more than half its black conventional mortgage apps

The largest credit union in the US, Navy Federal Credit Union, has the widest disparity in mortgage approval rates between White and Black borrowers among major lenders, according to a CNN analysis. While many banks also have approval rate disparities, Navy Federal’s nearly 29-percentage-point gap in approval rates is the widest among the top 50 lenders that originated the most mortgage loans last year. The analysis reveals significant racial disparities in Navy Federal’s mortgage approval rates, even among applicants with similar incomes and debt-to-income ratios. The credit union has defended its lending practices, emphasizing its commitment to equal and equitable lending practices.

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