NCLR Report Focuses on Predatory Mortgage Lending Targeting Hispanics

WASHINGTON – The National Council of La Raza, the largest national Hispanic civil rights and advocacy organization in the U.S., will hold a press conference May 25 to release a report it says shows that Hispanic homebuyers are more likely than other homebuyers to be locked into expensive mortgage products "that hinder their ability to build equity and other assets." Presenting the results of Jeopardizing Hispanic Homeownership: Predatory Practices in the Homebuying Market will be NCLR President/CEO Janet Murguia. She'll be joined by the report's authors and community leaders to discuss lending practices that encourage reliance on untraditional mortgages and mortgage brokers, a practice they say creates barriers to accessing more traditional and affordable mortgage products and leads many Latino families to pay unwarranted premiums just to own their own home. Speakers will also address the report's recommendations that Congress and industry leaders regulate the mortgage and banking industry and curtail the aggressive marketing and sales techniques of predatory lenders.