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U.S. watchdog says Black, Hispanic homeowners more likely to be in forbearance program


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WASHINGTON Black and Hispanic U.S. mortgage borrowers are much more likely to be delinquent or in a “forbearance” program than white borrowers, highlighting how the COVID-19 crisis is exacerbating systemic racial disparities, according to new data from the Consumer Financial Protection Bureau (CFPB).
In a pair of new reports published Tuesday analyzing 2020 mortgage complaints, the agency found that 33% of homeowners in mortgage holidays or “forbearance” programs and 27% of delinquent borrowers, identify as Black or Hispanic, while only 18% of the total population of mortgage borrowers identify as Black or Hispanic.
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