As Racial Homeownership Disparities Persist, State's Mortgage Agency Increases Lending to Minority and Low-Income Borrowers
The State of New York Mortgage Agency (SONYMA) has boosted lending and programs for minority households and economically disadvantaged communities, increasing its share of loans provided to low-income and minority borrowers over the last 10 years. However, wide racial and ethnic disparities persist in homeownership in New York.