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HMDA Data Show ND Credit Unions Fail at Low-Income Lending

Posted on 11/6/2014

The latest Home Mortgage Disclosure Act (HMDA) data show that credit unions in North Dakota and across the country are failing in their mission to serve homebuyers of modest means. In a series of state-by-state reports, ABA shows that home loans for low income borrowers represent only a tiny fraction of credit union mortgage lending. In North Dakota, only 37 mortgages originated by credit unions went to low-income borrowers, compared to 1,627 mortgages originated to middle- and upper-income borrowers, according to recent HMDA data.

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