Risk or Race? Racial Disparities and the Subprime Refinance Market. By Calvin Bradford, Calvin Bradford & Associates. Prepared for the Center for Community Change. (The Center, Washington DC) May 2002. 106 p.
Full Text at: www.communitychange.org/NRP/Risk%20or%20Race,%205-02.pdf
["In its most surprising finding, the study said that the racial disparities increased as homeowners' salaries rose. Among households that made at least 120 percent of the typical income in their metropolitan area, 32 percent of blacks held high-interest, or subprime, loans while only 11 percent of whites did. Among households that made 80 percent or less of the typical local salary, 56 percent of blacks had subprime loans and 25 percent of whites did." New York Times (May 1 2002) 1.]