On the homeownership front, research by the Center for Responsible Lending has found that Black and Latino mortgage borrowers are disproportionately dependent upon FHA financing, and still have scant access to the most affordable and sustainable mortgages – 30-year fixed rate conventional ones. This heavy reliance on FHA financing even includes upper income Blacks and Latinos who could be eligible for conventional lending. Further, as many banks have withdrawn from the mortgage market, non-depository lending has increased. By 2016, eight of the top 10 FHA lenders were non-depositories.
