Arlington, Va. - Bank and thrift institutions have greatly stepped up efforts to deliver more mortgages to members of minority groups and low- to moderate-income households, according to a survey by a Consumer Bankers Association.
Of 130 respondents, 93.8% said they have programs to increase home loans to those groups. "While this is a slight increase from the previous two years surveys, the number of responding institutions increased from 102 in 1993," the announcemnent said.
The survey found 94.3% give an automatic second review to some or all mortgage denials, compared with 88.4% last year and 86.7% in 1992. Also, 86.2% sponsor or support a counseling or education program, compared with 82.1% and 76.6% in the two preceding years.