The impact is profound, as these gaps hinder our ability to understand who is receiving loans and under what terms, which is vital for assessing fairness and inclusivity.
Beginning with this report, NCRC is eliminating records without demographic data from our calculations of the percent of loans made to specific races.
In the past, it was assumed that those choosing not to select a race were more likely white; however, we demonstrate that loans without data likely reflect deeper issues.
The missing data is largely due to loopholes in the HMDA, with online applicants allowed to opt out of disclosing their demographic information.
Collection
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