By: KeyCrew Media
A national coalition of mortgage professionals has released a comprehensive playbook addressing significant homeownership access disparities, revealing that Black and Hispanic homebuyers face 72% higher denial and predatory lending rates compared to white applicants.
The Black Homeownership Council, operating under The Broker Action Coalition, released the research-backed resource during Black History Month, providing mortgage professionals with actionable strategies to address systemic barriers.
Understanding the Gap
Council Chair Dr. Jennifer Gormer brings both professional expertise and personal perspective. At 24, as a mother of five and sole breadwinner, she became the first in her family to achieve homeownership, breaking a generational pattern.
“I closed at five o’clock on Christmas Eve,” Dr. Gormer recalls. “My mom, my grandmother, my great-grandmother – no one else had the opportunity to buy a home. I knew I needed to change the trajectory of my family, but also make homeownership accessible to other families.”
Key Findings
The playbook draws from HMDA data, Urban League statistics, and case studies from mortgage brokers across all 50 states. Three primary barriers emerged:
Education Access: Many prospective Black homebuyers lack comprehensive credit and financial literacy education, which directly affects approval rates.
Down Payment Assistance Awareness: Numerous assistance programs exist, but awareness and utilization remain disproportionately low. “How would you feel if you saw you needed 5% down?” Dr. Gormer asks. “It’ll take a lifetime to save 5%. But we have down payment assistance available – it’s about making sure borrowers know these programs exist.”
Lender Overlay Impact: Some lenders impose requirements beyond standard guidelines, disproportionately reducing the likelihood of approval for Black and Hispanic applicants.
Practical Solutions
The playbook provides mortgage professionals with immediately actionable guidance: identifying lenders without excessive overlays, connecting borrowers with assistance programs, integrating financial education, and addressing rising costs, including credit reports (increased from $25 to over $100) and insurance premiums.
“All these things impact a consumer’s ability to not only apply but to get approved,” Dr. Gormer explains. “The goal is getting them to the closing line.”
Industry Collaboration
The Black Homeownership Council operates within BAC’s advocacy infrastructure, which successfully mobilized support for the Homebuyers Privacy Protection Act in 2025 through 250+ congressional meetings and 25,000+ constituent letters.
The council works alongside the Hispanic Homeownership Leadership and Veterans Homeownership councils, allowing specialized focus while coordinating on overlapping challenges. Dr. Gormer also founded the Black Mortgage Professional Alliance (BMPA), which partners with BAC.
Market Opportunity
Black homeownership rates lag approximately 30 percentage points behind white rates. Addressing this disparity could add millions of households to the homebuyer pool, representing significant market expansion.
The playbook positions this work as both an ethical imperative and a business strategy – serving underserved communities while expanding professional reach.
Call to Action
Dr. Gormer encourages mortgage professionals to engage actively: “You should be leaning in. Not only can you ask what’s going on, but you can also say, ‘I have a voice, and I would like to give my time.'”
“I believe in the BAC and the partnership between the BAC and the BMPA,” Dr. Gormer states. “I’m looking forward to closing this gap day by day, month by month, borrower by borrower.”
The playbook is available here.
About the Broker Action Coalition: The Broker Action Coalition is a grassroots network representing independent mortgage brokers nationwide, focused on education, professional development, and industry advancement.
Disclaimer: The information provided in this article is for educational purposes only. It does not constitute legal, financial, or professional advice. The Broker Action Coalition and its partners do not guarantee specific results. Always seek the advice of a qualified professional before making any financial or homeownership decisions.
