https://www.bloomberg.com/opinion/articles/2019-06-17/how-housing-finance-enriched-whites-at-expense-of-black-borrowers?srnd=premium
With one minor caveat at the end, the author makes it sound like this was all racist - rather than, perhaps, the decisions being made based on financial indicators, which
may happen to disproportionately correlate with blacks.
For example, in the graph comparing black family income vs. white family income, are they adjusting for whether each "family" has 2 parents? A 1-parent family is going to have significantly lower income for multiple reasons, completely unrelated to race.
Also - $3-4B sounds like a lot to me, and anyone else reading the article - but what percentage of overall sales was that?
Finally, while I'm no expert on this, there's a lot of controversy regarding what impact, if any, the Community Reinvestment Act had on lending to minorities in a risky way, and ultimately the housing crash that may have impacted those same minorities. Articles on this are dividied along usual political lines, but the left-leaning ones I've read use snide lines like, "the CRA didn’t force mortgage companies to offer loans [in irresponsible ways]." Well - it kind of did, since it seems (from admittedly brief research) that banks had penalties imposed if they didn't meet certain metrics of lending to minorities. And I somehow doubt that it was simple to explain why they didn't meet those expectations for economically valid reasons.