Nonbanks dominate top 2021 mortgage lender list

Of those purchase mortgage loans originated last year, whites received 3.1 million or 68.4%, according to the LendingPatterns report from ComplianceTech. This was down from a 71.8% share for 2020, a 72.3% share in 2019 and 73.2% share in 2018.

Over the same time period, the share for Blacks grew to 8.3% from 7.7% in 2020, 7.4% in 2019 and 7.1% in 2018; and for Hispanics, it rose to 14.5% from 13.8%, 13.3% and 12.3% respectively. The year-over-year growth in share for Asians to 8.4% from 6.2% reversed a trend of declining share; in 2019, this group had a 6.6% share and in 2018, a 6.9% share.

Those totals, however, are still out of line with the overall U.S. population, according to the 2020 Census. Whites made up 61.6% of the total U.S. population, while Blacks were 12.4%, Hispanics, 18.7% and Asians, 6%.

The difference in race for refinanced mortgages reflects the lower share of homeownership for minorities.

Almost three-quarters of the 7.1 million refis last year were made to white borrowers, while Blacks received a 6.3% share, Hispanics, 10.8%, and Asians, 7.6%.