Studies of the mortgage industry’s impact on racial stratification have long focused on racial disparities found between white and black homeowners. Ample research demonstrates that unequal access and treatment between white and black home seekers has created major differences in the type of loan products they are offered in the marketplace. While numerous studies also document disadvantaged Latino homebuyers, studies have yet to examine racial variation within the Latino population. This paper draws on annual data from the Home Mortgage Disclosure Act (HMDA) from 2010 to 2017 to assess variation in racial disparities among Latinos in loan outcomes and compares them to Non-Latino whites, blacks, Asians, and Others. I show that loan rejections and high cost originations are highest among black Latinos and lowest among white and Asian Latinos. Other Latinos perform somewhere in the middle. These trends are particularly true when examining mortgage denials. When comparing Latino racial groups to Non-Latinos, the observed lending patterns provide evidence of a tri-racial hierarchy in the mortgage market.

关于抵押贷款业对种族分层的影响的研究长期以来一直集中在白人和黑人房主之间的种族差异上。大量研究表明，白人和黑人寻求住房者之间的不平等获得和待遇不平等，造成了他们在市场上提供的贷款产品类型的重大差异。尽管大量研究还记录了拉丁美洲裔购房者的处境不利，但尚未进行研究来检查拉丁裔人口中的种族差异。本文借鉴了2010年至2017年《住房抵押贷款披露法》（HMDA）的年度数据，以评估拉丁裔在贷款结果方面的种族差异，并将其与非拉丁裔白人，黑人，亚裔和其他种族进行比较。我的研究表明，黑人拉丁裔在贷款拒绝和高成本发起方面最高，而在白人和亚洲拉丁裔中则最低。其他拉丁裔则在中间某个地方表演。在审查抵押否认时，这些趋势尤其如此。在将拉丁裔种族群体与非拉丁裔种族进行比较时，观察到的贷款模式提供了抵押市场上三种族等级制度的证据。