{"id":256599,"date":"2025-06-26T11:19:19","date_gmt":"2025-06-26T15:19:19","guid":{"rendered":"https:\/\/ncrc.org\/?page_id=256599"},"modified":"2025-06-26T15:13:00","modified_gmt":"2025-06-26T19:13:00","slug":"mortgage-market-report-series-part-3-native-american-and-hawaiian-lending","status":"publish","type":"post","link":"https:\/\/ncrc.org\/mortgage-market-report-series-part-3-native-american-and-hawaiian-lending\/","title":{"rendered":"Mortgage Market Report Series &#8211; Part 3: Native American and Hawaiian Lending"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"256599\" class=\"elementor elementor-256599\" data-elementor-post-type=\"post\">\n\t\t\t\t<div class=\"elementor-element elementor-element-5e82343 e-flex e-con-boxed e-con e-parent\" data-id=\"5e82343\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-2cfe8db elementor-widget elementor-widget-heading\" data-id=\"2cfe8db\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\"><a href=\"https:\/\/ncrc.org\/mortgage-market-report-series\">2025 NCRC Mortgage Market Series<\/a><\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-6057fdc e-con-full e-flex e-con e-parent\" data-id=\"6057fdc\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-734c43a elementor-widget elementor-widget-n-carousel\" data-id=\"734c43a\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;carousel_items&quot;:[{&quot;slide_title&quot;:&quot;Slide #2&quot;,&quot;_id&quot;:&quot;48d1f94&quot;}],&quot;slides_to_show&quot;:&quot;1&quot;,&quot;slides_to_scroll&quot;:&quot;1&quot;,&quot;image_spacing_custom&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:0,&quot;sizes&quot;:[]},&quot;slides_to_show_tablet&quot;:&quot;1&quot;,&quot;autoplay_speed&quot;:8000,&quot;speed&quot;:2000,&quot;slides_to_show_mobile&quot;:&quot;1&quot;,&quot;autoplay&quot;:&quot;yes&quot;,&quot;pause_on_hover&quot;:&quot;yes&quot;,&quot;pause_on_interaction&quot;:&quot;yes&quot;,&quot;infinite&quot;:&quot;yes&quot;,&quot;offset_sides&quot;:&quot;none&quot;,&quot;image_spacing_custom_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;image_spacing_custom_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]}}\" data-widget_type=\"nested-carousel.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"e-n-carousel swiper\" role=\"region\" aria-roledescription=\"carousel\" aria-label=\"Mortgage Carousel v1\" dir=\"ltr\">\n\t\t\t<div class=\"swiper-wrapper\" aria-live=\"off\">\n\t\t\t\t\t\t\t\t\t\t<div class=\"swiper-slide\" data-slide=\"1\" role=\"group\" aria-roledescription=\"slide\" aria-label=\"1 of 1\">\n\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b8f28d8 e-flex e-con-boxed e-con e-child\" data-id=\"b8f28d8\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-f8ad9fc e-con-full e-flex elementor-invisible e-con e-child\" data-id=\"f8ad9fc\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[],&quot;animation&quot;:&quot;fadeInRight&quot;,&quot;animation_delay&quot;:750}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-76793c6 elementor-widget elementor-widget-text-editor\" data-id=\"76793c6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><b>PART 3:<\/b><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9e36082 elementor-widget elementor-widget-heading\" data-id=\"9e36082\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Native American and Hawaiian Lending<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9c09f0e elementor-widget elementor-widget-heading\" data-id=\"9c09f0e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Native and Hawaiian communities face unique homeownership barriers worsened by investor pressure and shrinking federal support<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-d09b7b0 e-flex e-con-boxed e-con e-parent\" data-id=\"d09b7b0\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-a1acc02 elementor-align-center elementor-widget elementor-widget-button\" data-id=\"a1acc02\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"#elementor-action%3Aaction%3Doff_canvas%3Aopen%26settings%3DeyJpZCI6ImQ5NDllNzMiLCJkaXNwbGF5TW9kZSI6Im9wZW4ifQ%3D%3D\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Series Introduction<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-4e2f897 elementor-section-stretched elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4e2f897\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;stretch_section&quot;:&quot;section-stretched&quot;,&quot;background_background&quot;:&quot;classic&quot;,&quot;jet_parallax_layout_list&quot;:[{&quot;jet_parallax_layout_image&quot;:{&quot;url&quot;:&quot;&quot;,&quot;id&quot;:&quot;&quot;,&quot;size&quot;:&quot;&quot;},&quot;_id&quot;:&quot;63680be&quot;,&quot;jet_parallax_layout_image_tablet&quot;:{&quot;url&quot;:&quot;&quot;,&quot;id&quot;:&quot;&quot;,&quot;size&quot;:&quot;&quot;},&quot;jet_parallax_layout_image_mobile&quot;:{&quot;url&quot;:&quot;&quot;,&quot;id&quot;:&quot;&quot;,&quot;size&quot;:&quot;&quot;},&quot;jet_parallax_layout_speed&quot;:{&quot;unit&quot;:&quot;%&quot;,&quot;size&quot;:50,&quot;sizes&quot;:[]},&quot;jet_parallax_layout_type&quot;:&quot;scroll&quot;,&quot;jet_parallax_layout_direction&quot;:&quot;1&quot;,&quot;jet_parallax_layout_fx_direction&quot;:null,&quot;jet_parallax_layout_z_index&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_x&quot;:50,&quot;jet_parallax_layout_bg_x_tablet&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_x_mobile&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_y&quot;:50,&quot;jet_parallax_layout_bg_y_tablet&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_y_mobile&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_size&quot;:&quot;auto&quot;,&quot;jet_parallax_layout_bg_size_tablet&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_size_mobile&quot;:&quot;&quot;,&quot;jet_parallax_layout_animation_prop&quot;:&quot;transform&quot;,&quot;jet_parallax_layout_on&quot;:[&quot;desktop&quot;,&quot;tablet&quot;]}]}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-8cf0b53\" data-id=\"8cf0b53\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-16f8c28 elementor-widget elementor-widget-text-editor\" data-id=\"16f8c28\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p class=\"p1\"><b>Jason Richardson, <\/b><i>Senior Director, Research, NCRC<\/i><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-912966f elementor-widget elementor-widget-off-canvas\" data-id=\"912966f\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;entrance_animation&quot;:&quot;fadeIn&quot;,&quot;exit_animation&quot;:&quot;fadeIn&quot;}\" data-widget_type=\"off-canvas.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div id=\"off-canvas-912966f\" class=\"e-off-canvas\" role=\"dialog\" aria-hidden=\"true\" aria-label=\"Off-Canvas Video\" aria-modal=\"true\" inert=\"\" data-delay-child-handlers=\"true\">\n\t\t\t<div class=\"e-off-canvas__overlay\"><\/div>\n\t\t\t<div class=\"e-off-canvas__main\">\n\t\t\t\t<div class=\"e-off-canvas__content\">\n\t\t\t\t\t<div class=\"elementor-element elementor-element-8575f60 e-con-full e-flex e-con e-child\" data-id=\"8575f60\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-1be3ee1 elementor-widget elementor-widget-video\" data-id=\"1be3ee1\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;youtube_url&quot;:&quot;https:\\\/\\\/youtu.be\\\/eYc1pEUecVA&quot;,&quot;video_type&quot;:&quot;youtube&quot;,&quot;controls&quot;:&quot;yes&quot;}\" data-widget_type=\"video.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-wrapper elementor-open-inline\">\n\t\t\t<div class=\"elementor-video\"><\/div>\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8a721dc elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"8a721dc\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-eef198c elementor-align-center elementor-widget elementor-widget-button\" data-id=\"eef198c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"#elementor-action%3Aaction%3Doff_canvas%3Aopen%26settings%3DeyJpZCI6IjkxMjk2NmYiLCJkaXNwbGF5TW9kZSI6Im9wZW4ifQ%3D%3D\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Intro Video<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b489dc5 elementor-widget elementor-widget-text-editor\" data-id=\"b489dc5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"font-weight: 400;\">Part 3 of this series explores the unique challenges and patterns in mortgage lending to Native American and Native Hawaiian\/Pacific Islander communities. While often overlooked in broader discussions on mortgage access, these communities face distinct barriers that deserve focused attention. Their geographic concentration in specific regions, unique land ownership structures and historically complex relationships with federal policies create lending environments unlike those experienced by any other demographic group.<\/p><p style=\"font-weight: 400;\">Building on our findings from Parts 1 and 2 about the structural shifts in mortgage lending and declining access for low- and moderate-income (LMI) borrowers, this analysis examines the specific challenges facing Native American and Native Hawaiian\/Pacific Islander communities in the 2024 mortgage market.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-fc2c0a1 e-con-full e-flex e-con e-parent\" data-id=\"fc2c0a1\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-ebe2c81 elementor-widget elementor-widget-html\" data-id=\"ebe2c81\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<iframe title=\"Native American and Hawaiian\/Pacific Islander Home Purchase Trends (2018-2024)\" aria-label=\"Multiple Lines\" id=\"datawrapper-chart-edkDj\" src=\"https:\/\/datawrapper.dwcdn.net\/edkDj\/2\/\" scrolling=\"no\" frameborder=\"0\" style=\"width: 0; min-width: 100% !important; border: none;\" height=\"321\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data[\"datawrapper-height\"][t]+\"px\";r.style.height=d}}}))}();\n<\/script>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-05b2c32 elementor-widget elementor-widget-text-editor\" data-id=\"05b2c32\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"font-weight: 400;\">Unlike other demographic groups, Native American and Native Hawaiian\/Pacific Islander populations show pronounced geographic concentrations in their respective states. While many people\u2019s\u00a0access\u00a0to mortgage capital is structurally restricted, these two small groups face distinct legal and institutional barriers to homeownership. Both communities have unique relationships with land ownership that complicate mortgage lending. Tribal trust lands for many Native American communities and specialized property regimes for Native Hawaiians on Hawaiian home lands often run counter to the mortgage system America has constructed that uses land as collateral.<\/p><p style=\"font-weight: 400;\">Preserving these groups\u2019 right to maintain the land practices that correspond to their cultural and religious values while also improving their access to mortgage credit is not as difficult as it may sound \u2013 as our policy recommendations at the bottom of this report show.<\/p><p style=\"font-weight: 400;\">The analysis reveals that both Native American and Native Hawaiian\/Pacific Islander communities face severe underrepresentation in mortgage lending, but through different mechanisms and challenges.<\/p><p style=\"font-weight: 400;\">For Native Hawaiian\/Pacific Islander communities, the primary barriers stem from extreme housing costs, complex land tenure systems and competition from outside investors claiming nearly one-fifth of the market. The &#8220;AAPI&#8221; label obscures the reality that while certain Asian buyer groups thrive in Hawaii&#8217;s market, capturing over one-third of all loans, Native Hawaiians receive loans at approximately one-third their population share.<\/p><p style=\"font-weight: 400;\">For Native American communities, the challenges are more varied across states but consistently severe. No state achieves proportional lending access for Native Americans, with the best-performing state (Oklahoma) still showing massive gaps. The heavy reliance on manufactured housing creates a wealth-building trap where families purchase assets that depreciate rather than appreciate, perpetuating economic disparities across generations.<\/p><p style=\"font-weight: 400;\">The multiracial identification data reveals that lending disparities affect Native Americans differently depending on their connection to tribal communities and geographic distribution. Primary Native American borrowers, who are more likely to live in or near tribal communities, face the most severe barriers to accessing traditional mortgage credit.<\/p><p style=\"font-weight: 400;\">Both\u00a0communities\u00a0benefit from specialized federal housing programs that acknowledge their unique circumstances, but these programs face elimination or severe cuts under proposed budget changes. The loss of these programs would exacerbate already severe disparities and undermine decades of progress in expanding homeownership access.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7d1c2b5 elementor-widget elementor-widget-heading\" data-id=\"7d1c2b5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Key Takeaways<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-3a4fc83 e-grid e-con-boxed e-con e-parent\" data-id=\"3a4fc83\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-632ae64 e-con-full e-flex e-con e-child\" data-id=\"632ae64\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t<div class=\"elementor-element elementor-element-abcdb9e e-con-full e-flex e-con e-child\" data-id=\"abcdb9e\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-ef5aac4 elementor-widget elementor-widget-heading\" data-id=\"ef5aac4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">1<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-61ad784 e-con-full e-flex e-con e-child\" data-id=\"61ad784\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-797f7de elementor-widget elementor-widget-text-editor\" data-id=\"797f7de\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p class=\"p1\"><b><span lang=\"EN\">Severe Underrepresentation Across All Identity Categories:<\/span><\/b><span lang=\"EN\">\u00a0No state achieves proportional lending access for Native Americans. Even Oklahoma, the best-performing state, shows a massive gap with 17.2% of the population receiving only 9.4% of loans.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-e42533f e-con-full e-flex e-con e-child\" data-id=\"e42533f\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-ec5d52e elementor-widget elementor-widget-heading\" data-id=\"ec5d52e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">2<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-150f603 e-con-full e-flex e-con e-child\" data-id=\"150f603\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-f35ea81 elementor-widget elementor-widget-text-editor\" data-id=\"f35ea81\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p class=\"p1\"><b><span lang=\"EN\">Native Hawaiian Displacement\u00a0<span class=\"GramE\">In<\/span>\u00a0Their Homeland:<\/span><\/b><span lang=\"EN\">\u00a0Native Hawaiians receive only 3.9% of home purchase loans in Hawaii despite comprising 10.8% of the population, while Asian buyer groups capture 34.2% of the market.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-068b83c e-con-full e-flex e-con e-child\" data-id=\"068b83c\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-05a74ba elementor-widget elementor-widget-heading\" data-id=\"05a74ba\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">3<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-c14b3ed e-con-full e-flex e-con e-child\" data-id=\"c14b3ed\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-d45d922 elementor-widget elementor-widget-text-editor\" data-id=\"d45d922\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p class=\"p1\"><b><span lang=\"EN\">Manufactured Housing Dependency Limits Wealth Building:<\/span><\/b><span lang=\"EN\">\u00a0Native Americans rely on manufactured homes at extreme rates. These depreciating residences account for 23.5% of loans to Native Americans in New Mexico and 13.4% in Arizona, compared to under 8% of all mortgages to non-Native borrowers.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-996f7b1 e-con-full e-flex e-con e-child\" data-id=\"996f7b1\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-cf38590 elementor-widget elementor-widget-heading\" data-id=\"cf38590\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">4<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-3d5588d e-con-full e-flex e-con e-child\" data-id=\"3d5588d\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-d0ea344 elementor-widget elementor-widget-text-editor\" data-id=\"d0ea344\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><b><span lang=\"EN\">Investment Pressure\u00a0<span class=\"GramE\">In<\/span>\u00a0Hawaii:<\/span><\/b><span lang=\"EN\">\u00a0Investment and second-home buyers claim 18.9% of Hawaii&#8217;s housing market, which is twice the mainland rate.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t<div class=\"elementor-element elementor-element-8da3aec e-flex e-con-boxed e-con e-parent\" data-id=\"8da3aec\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-6e22ffd e-con-full e-flex e-con e-child\" data-id=\"6e22ffd\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[],&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-29f1e78 elementor-widget elementor-widget-heading\" data-id=\"29f1e78\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Native Hawaiian and Pacific Islander Communities<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-36246eb elementor-widget elementor-widget-heading\" data-id=\"36246eb\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Market Overview<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5c808d9 elementor-widget elementor-widget-text-editor\" data-id=\"5c808d9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"font-weight: 400;\">Native Hawaiians are overwhelmingly concentrated in Hawaii, with approximately 157,445 individuals identifying as Native Hawaiian or Pacific Islander (HoPI) in the state, representing 10.8% of Hawaii&#8217;s total population. This makes Hawaii unique when it comes to mortgage lending as nearly all census tracts in Hawaii (over 95%) are classified as majority-minority census tracts.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c1b8ece elementor-widget elementor-widget-heading\" data-id=\"c1b8ece\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Data Improvements and Subgroup Analysis<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8f2bc65 elementor-widget elementor-widget-text-editor\" data-id=\"8f2bc65\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"font-weight: 400;\">HMDA reporting allows us to disaggregate overall\u00a0HoPI\u00a0data into the multiple ethnicities that category encompasses, which allows for a more nuanced analysis of specific Pacific Islander groups. From 2018 to 2024, the percentage of\u00a0HoPI\u00a0borrowers providing detailed ethnicity information increased substantially from 46.7% to 74.0%, a change of 27.3 percentage points.<\/p><p style=\"font-weight: 400;\">Among\u00a0HoPI\u00a0borrowers who provided detailed ethnicity information in\u00a02024,Pacific\u00a0Islanders categorized as Other represented the largest subgroup (44.1%), followed by Native Hawaiians (25.5%), Guamanian or Chamorro borrowers (16.6%) and Samoans (13.8%).<\/p><p style=\"font-weight: 400;\">The share of specifically Native Hawaiian borrowers decreased slightly from 27.8% in 2018 to 25.5% in 2024, while Guamanian (or Chamorro) representation increased from 12.8% to 16.6%.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7fef04f elementor-widget elementor-widget-heading\" data-id=\"7fef04f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Hawaii's Housing Market: Pandemic Boom and Investor Competition<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c8fd76b elementor-widget elementor-widget-text-editor\" data-id=\"c8fd76b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"font-weight: 400;\">Hawaii&#8217;s home purchase market experienced significant volatility around the pandemic, with total lending peaking at 14,879 loans in 2021 before cooling to 7,238 loans by 2024. This represents a substantial contraction as higher interest rates reduced buying power across all groups.<\/p><p style=\"font-weight: 400;\">Maui in particular was also savaged by wildfires in 2023, uprooting huge numbers of families and upending traditional market dynamics, with effects not yet quantifiable through HMDA data.<\/p><p style=\"font-weight: 400;\">Throughout this period, investment and second-home buying has remained elevated. In 2024, 18.9% of home purchases were for investment properties or second homes rather than primary residences. This share peaked at 23.0% during the 2021 pandemic boom and has consistently stayed above pre-pandemic levels.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-697de06 elementor-widget elementor-widget-heading\" data-id=\"697de06\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Hawaii vs. Mainland: An Investment Hotspot<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-90e4b83 elementor-widget elementor-widget-text-editor\" data-id=\"90e4b83\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"font-weight: 400;\">Hawaii&#8217;s investment property market operates unlike the rest of America. In 2024, investment and second home purchases made up 18.9% of Hawaii&#8217;s market compared to just 9.0% on the mainland. This gap has been consistent throughout the 2018-2024 period, with Hawaii maintaining roughly double the investment share of the mainland. Given that this data only identifies investors that use mortgages to fund their purchase and not cash buyers, it likely undercounts the role of investors in the market.<\/p><p style=\"font-weight: 400;\">The difference peaked in 2021 at 14.0 percentage points, meaning local Hawaiian families compete in a market where outside investors and second-home buyers consistently claim about one-fifth of available housing.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-858b07d elementor-widget elementor-widget-heading\" data-id=\"858b07d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Breaking Down \"AAPI\": Different Groups, Different Impacts<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-578f74c elementor-widget elementor-widget-text-editor\" data-id=\"578f74c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"font-weight: 400;\">The &#8220;Asian American and Pacific Islander&#8221; (AAPI) label commonly used in housing discussions obscures important patterns in Hawaii&#8217;s market. When disaggregated, Asian buyer groups and Native Hawaiian\/Pacific Islander buyers show fundamentally different market participation.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-59d5bf0 elementor-widget elementor-widget-html\" data-id=\"59d5bf0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<iframe title=\"Home Purchase Lending Across AAPI Groups\" aria-label=\"Stacked Columns\" id=\"datawrapper-chart-bgxqO\" src=\"https:\/\/datawrapper.dwcdn.net\/bgxqO\/2\/\" scrolling=\"no\" frameborder=\"0\" style=\"width: 0; min-width: 100% !important; border: none;\" height=\"400\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data[\"datawrapper-height\"][t]+\"px\";r.style.height=d}}}))}();\n<\/script>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b90c24d elementor-widget elementor-widget-text-editor\" data-id=\"b90c24d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"font-weight: 400;\">Filipino buyers received 14.5% of all home purchase loans in 2024, ahead of Chinese (10.3%) and Japanese (9.4%) buyers. These three Asian groups combined captured 34.2% of Hawaii&#8217;s entire home purchase market.<\/p><p style=\"font-weight: 400;\">Native Hawaiian buyers received just 3.9% of home purchase loans despite representing 10.8% of Hawaii&#8217;s population. This means Native Hawaiians receive loans at approximately one-third their population share.<\/p><p style=\"font-weight: 400;\">The &#8220;AAPI&#8221; label masks this disparity. Grouping Asian and Pacific Islander buyers under one umbrella suggests unified success in Hawaii&#8217;s housing market, when in reality specific Asian buyer groups are expanding their market presence while Native Hawaiian buyers remain severely underrepresented.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3867a8b elementor-widget elementor-widget-heading\" data-id=\"3867a8b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Investment Property: Who's Buying Hawaii as an Asset<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f25d4c5 elementor-widget elementor-widget-text-editor\" data-id=\"f25d4c5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"font-weight: 400;\">Investment property patterns reveal different approaches to Hawaii&#8217;s housing market across groups.<\/p><p style=\"font-weight: 400;\">Chinese buyers used 22.8% of their home purchases for investment properties in 2024, down from 30.6% in 2022 but still representing the highest rate among major groups. Japanese buyers also retreated from buy-to-lease purchases in the state, with their investment rate dropping from 20.1% in 2018 to 13.3% in 2024.<\/p><p style=\"font-weight: 400;\">Filipino buyers focus primarily on owner-occupied homes, with only 9.0% of their purchases for investment properties. Native Hawaiian investment buying increased from 5.7% in 2018 to 11.7% in 2024 \u2013 but bought just 33 investment properties, compared to 170 for Chinese buyers.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e7a008c elementor-widget elementor-widget-heading\" data-id=\"e7a008c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Native Hawaiian\/Pacific Islander Lending Patterns\n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d8cc1cc elementor-widget elementor-widget-text-editor\" data-id=\"d8cc1cc\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"font-weight: 400;\">Native Hawaiian\/Pacific Islanders comprised 10.8% of Hawaii&#8217;s population, but received only 3.9% of home purchase loans in 2024 (282 total home purchase loans).<\/p><p style=\"font-weight: 400;\">HoPI borrowers took out mortgages almost exclusively on site-built homes, unlike mainland Native populations. HoPI borrowers in Hawaii show large participation in site-built home lending that generally builds family wealth over time, with 99.8% of home purchase loans being for site-built properties rather than manufactured homes that depreciate in value.96.6% of HoPI home purchase loans were in majority-minority census tracts, reflecting Hawaii&#8217;s overall demographic makeup.<\/p><p style=\"font-weight: 400;\">8.0% of\u00a0HoPI\u00a0home purchase loans went to LMI borrowers, compared to 7.1% for all other borrowers in Hawaii.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-eeecf5b elementor-widget elementor-widget-heading\" data-id=\"eeecf5b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Barriers Specific to Native Hawaiian\/Pacific Islander Communities<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-788327a elementor-widget elementor-widget-text-editor\" data-id=\"788327a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"font-weight: 400;\">Native Hawaiian\/Pacific Islander communities face a distinct set of barriers that affect their homeownership opportunities. Limited space for housing, high levels of tourism and extreme prices all plague Hawaii&#8217;s housing market. These prices create substantial affordability barriers for even middle-income borrowers, limiting the market to those with significant wealth or additional, disposable income sources.<\/p><p style=\"font-weight: 400;\">There are also unique land use restrictions tied to Hawaiian home lands and other specialized property regimes, further complicating the state\u2019s housing market. These programs, while designed to preserve Native Hawaiians&#8217; access to land, create title and property rights challenges that many traditional lenders are ill-equipped to navigate. The complexity of these situations often requires specialized lending expertise that is not widely available in the conventional mortgage market.<\/p><p style=\"font-weight: 400;\">Competition from non-resident investors creates additional pressure on Hawaii&#8217;s limited housing market. The desirability of Hawaiian real estate for vacation property development and other real estate investment opportunities means that Native Hawaiian\/Pacific Islander communities must compete with cash buyers and wealthy investors from the mainland for stable housing opportunities. This intensifies affordability challenges in an already supply-constrained market, pushing homeownership further out of reach for many Native Hawaiian\/Pacific Islander families.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b6ed94f elementor-widget elementor-widget-heading\" data-id=\"b6ed94f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Specialized Housing Programs Under Threat<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8bbbfda elementor-widget elementor-widget-text-editor\" data-id=\"8bbbfda\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"font-weight: 400;\">Native Hawaiian\/Pacific Islander\u00a0communities\u00a0benefit from specialized housing programs designed to address their unique circumstances. These programs now face significant threats due to proposed federal budget cuts.<\/p><p style=\"font-weight: 400;\">For Native Hawaiians, the following key programs are under threat of elimination:<\/p><p style=\"font-weight: 400;\"><strong>Section 184A Native Hawaiian Housing Loan Guarantee program:<\/strong>\u00a0Created by the Hawaiian Homelands Homeownership Act of 2000 and authorized by the US Department of Housing and Urban Development (HUD), the Section 184A program offers loan guarantees for eligible Native Hawaiian individuals and families seeking homeownership on their Hawaiian home lands. It provides a 100% guarantee on unpaid principal and interest, but is limited to owner-occupant, single-family dwellings on Hawaiian home lands, which total roughly\u00a0<a href=\"https:\/\/dhhl.hawaii.gov\/2022\/12\/06\/dhhl-publishes-600-million-act-279-plan\/\" target=\"_blank\" rel=\"noopener\">200,000 acres<\/a>, or about 5% of the state\u2019s total land.<\/p><p style=\"font-weight: 400;\"><strong>Section 247 Mortgage Insurance for Hawaiian Home Lands program:<\/strong>\u00a0Under the National Housing Act, this program authorizes Federal Housing Authority (FHA) mortgage insurance packages for Native Hawaiian lenders purchasing one- to four-family dwellings on Hawaiian home lands, helping to minimize lender risk and increase mortgage credit availability.<\/p><p style=\"font-weight: 400;\"><strong>The Office of Hawaiian Affairs&#8217; Access to Home Ownership (AHO) program:<\/strong>\u00a0Launched in February 2025, this innovative mortgage-backed program uses $1.5 million per year to guarantee portions of home loans financed by the American Savings Bank, effectively eliminating monthly mortgage insurance premiums for eligible Native Hawaiian first-time homebuyers.<\/p><p style=\"font-weight: 400;\">These specialized programs are particularly crucial given the extreme housing costs in Hawaii, where median home prices exceed $830,000. However, as of May 2025, the current administration&#8217;s &#8220;skinny&#8221; budget foreshadows a possible elimination of the Native Hawaiian Housing Block Grant program, as well as major cuts to other HUD housing programs.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-40e8108 elementor-widget elementor-widget-heading\" data-id=\"40e8108\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Policy Solutions for Native Hawaiian\/Pacific Islander Communities<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-88d8cb6 elementor-widget elementor-widget-text-editor\" data-id=\"88d8cb6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"font-weight: 400;\"><strong>Protect specialized loan programs:<\/strong>\u00a0Congress should maintain funding for both the Section 184A Native Hawaiian Housing Loan Guarantee and Section 247 Mortgage Insurance for Hawaiian Home Lands programs, and expand the Office of Hawaiian Affairs&#8217; Access to Home Ownership program to serve more borrowers.<\/p><p style=\"font-weight: 400;\"><strong>Address investor competition:<\/strong>\u00a0Lawmakers should implement policies to limit speculative investment in Hawaii&#8217;s housing market, such as transfer taxes on non-resident purchases or restrictions on short-term rentals that remove housing from the long-term market.<\/p><p style=\"font-weight: 400;\"><strong>Improve data collection:<\/strong>\u00a0Regulators should enhance data collection mechanisms to further distinguish between Native Hawaiian borrowers and other Pacific Islander groups to better address the unique needs of each community.<\/p><p style=\"font-weight: 400;\"><strong>Support affordable housing development:<\/strong>\u00a0Lawmakers and private-sector actors should increase funding for affordable housing development specifically targeted to Native Hawaiian\/Pacific Islander families, with preference systems that prioritize indigenous residents.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0571a45 elementor-widget elementor-widget-heading\" data-id=\"0571a45\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Native American Communities\n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e4487c8 elementor-widget elementor-widget-heading\" data-id=\"e4487c8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Market Overview and Geographic Distribution\n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-473bfe0 elementor-widget elementor-widget-text-editor\" data-id=\"473bfe0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"font-weight: 400;\">The five states with the largest Native American populations were California (649,862), Oklahoma (332,791), Arizona (319,512), Texas (278,948) and New Mexico (212,241). When measured by their percentage of a state&#8217;s population, Native Americans represent substantial population shares in New Mexico (10.0%), Oklahoma (8.4%) and Arizona (4.5%).<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-36ac965 elementor-widget elementor-widget-html\" data-id=\"36ac965\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<iframe title=\"Native Home Purchase Lending\" aria-label=\"Split Bars\" id=\"datawrapper-chart-IMeui\" src=\"https:\/\/datawrapper.dwcdn.net\/IMeui\/2\/\" scrolling=\"no\" frameborder=\"0\" style=\"width: 0; min-width: 100% !important; border: none;\" height=\"407\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data[\"datawrapper-height\"][t]+\"px\";r.style.height=d}}}))}();\n<\/script>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-24686be elementor-widget elementor-widget-text-editor\" data-id=\"24686be\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"font-weight: 400;\">This unique geographic concentration of Native communities means that data on a national level often masks important regional lending patterns that have outsized impacts on these communities specifically.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f482cea elementor-widget elementor-widget-heading\" data-id=\"f482cea\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Understanding Multiracial Identity<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ef57b24 elementor-widget elementor-widget-text-editor\" data-id=\"ef57b24\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"font-weight: 400;\">The 2020 Census shows that nearly as many people identify as both Native American and another race as identify as Native American alone, creating significant measurement challenges when assessing lending equity.<\/p><p style=\"font-weight: 400;\">People who identify as multiracial Native American may have vastly different relationships to tribal communities, ranging from enrolled tribal members with mixed heritage to individuals with distant or uncertain Native ancestry who are exploring their family history. The geographic distribution of multiracial Native American borrowers also tends to differ from those who identify solely as Native American. Multiracial borrowers are often more dispersed across urban and suburban areas, potentially giving them better access to traditional banking services and conventional mortgage products, while primarily-Native American borrowers may be more concentrated in tribal areas or rural communities with limited financial infrastructure. (For more on those issues of access to financial services in Native American communities in the southwestern US, see our 2023 report\u00a0<a href=\"https:\/\/ncrc.org\/redlining-the-reservation-the-brutal-cost-of-financial-services-inaccessibility-in-native-communities\/\"><em>Redlining the Reservation<\/em><\/a>.)<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b0ac324 elementor-widget elementor-widget-heading\" data-id=\"b0ac324\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Manufactured Housing: A Key Difference<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c19ae1b elementor-widget elementor-widget-text-editor\" data-id=\"c19ae1b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"font-weight: 400;\">Native Americans rely on manufactured housing at more than twice the rate of other groups. In 2024, 9.2% of Native American home buyers purchased manufactured homes, compared to just 3.9% of Native Hawaiian\/Pacific Islander buyers and 4.3% of all other racial groups combined.<\/p><p style=\"font-weight: 400;\">This difference matters because manufactured homes typically cost less upfront but may not build wealth the same way traditional homes do. The high reliance on manufactured housing suggests Native Americans face different affordability challenges or have fewer options for traditional site-built homes.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1a2bcae elementor-widget elementor-widget-heading\" data-id=\"1a2bcae\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">State-by-State Analysis<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8ed4b74 elementor-widget elementor-widget-html\" data-id=\"8ed4b74\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<iframe title=\"Native Home Purchase Lending\" aria-label=\"Split Bars\" id=\"datawrapper-chart-IMeui\" src=\"https:\/\/datawrapper.dwcdn.net\/IMeui\/2\/\" scrolling=\"no\" frameborder=\"0\" style=\"width: 0; min-width: 100% !important; border: none;\" height=\"407\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data[\"datawrapper-height\"][t]+\"px\";r.style.height=d}}}))}();\n<\/script>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a9caa82 elementor-widget elementor-widget-text-editor\" data-id=\"a9caa82\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"font-weight: 400;\"><strong>New Mexico: Extreme Disparities Across All Categories<\/strong>\u00a0New Mexico has the highest concentration of Native Americans and shows the most severe lending disparities. Primary Native American borrowers represent 10.0% of the state&#8217;s population but received only 2.5% of loans. Multiracial Native American borrowers, comprising 2.4% of the population, received 1.0% of\u00a0loans.Even\u00a0when combining both groups, Native Americans received less than one-third of their proportional share of loans.<\/p><p style=\"font-weight: 400;\">The manufactured housing reliance among primary Native American borrowers is extreme, with nearly one in four loans (23.5%) going toward manufactured homes compared to less than 8% for non-Native borrowers.<\/p><p style=\"font-weight: 400;\"><strong>Oklahoma: Best Performance Still Falls Short<\/strong>\u00a0Oklahoma demonstrates the most equitable access patterns among the five states, but still shows significant gaps. Primary Native American borrowers, representing 8.4% of the population, received 8.8% of loans, achieving near-proportional access. However, multiracial Native American borrowers are severely underrepresented, comprising 8.8% of the population but receiving only 0.6% of loans.<\/p><p style=\"font-weight: 400;\">The manufactured housing dependency among primary Native American borrowers is the lowest of all five states at 8.8%, indicating better access to traditional site-built home financing.<\/p><p style=\"font-weight: 400;\"><strong>Arizona: Consistent Underrepresentation<\/strong>\u00a0Arizona shows significant underrepresentation across both identity categories. Primary Native American borrowers, representing 4.5% of the population, received only 0.8% of loans. Multiracial Native American borrowers, comprising 2.1% of the population, received 0.6% of loans.<\/p><p style=\"font-weight: 400;\">Manufactured housing dependency remains high among primary Native American borrowers at 13.4%, reflecting ongoing barriers to accessing traditional site-built home financing.<\/p><p style=\"font-weight: 400;\"><strong>California: The Multiracial Reversal<\/strong>\u00a0California presents the most striking example of how multiracial identification affects lending patterns. Primary Native American borrowers, representing 1.6% of the population, received only 0.5% of loans. Multiracial Native Americans are another 1.7% of Californians but also got just 0.5% of loans. In either case they are finding far less success in the housing market than they should\u00a0given\u00a0their share of the residents of California. When looking at absolute numbers, multiracial borrowers actually received more site-built loans (10,381) than primary Native American borrowers (8,308), despite representing similar population shares.<\/p><p style=\"font-weight: 400;\"><strong>Texas: Similar Multiracial Advantage<\/strong>\u00a0Texas demonstrates a pattern similar to California, where Native Americans (both Native Alone or in combination with other races) represent 2.5% of Texans but receive just 1% of home loans.\u00a0\u00a0<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-09ef2d8 elementor-widget elementor-widget-heading\" data-id=\"09ef2d8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">The Manufactured Housing Factor and Wealth Building<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c2d9750 elementor-widget elementor-widget-text-editor\" data-id=\"c2d9750\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"font-weight: 400;\">Across all states, the heavy reliance on manufactured housing among Native American borrowers represents a critical barrier to wealth building. This dependency stems from two main factors: land tenure issues and cost barriers.<\/p><p style=\"font-weight: 400;\">Much tribal land is held in trust by the federal government, making it difficult to use as collateral for traditional mortgages. Manufactured homes require less complex financing arrangements and can be more readily placed on trust land without navigating the complex federal approval processes required for site-built homes.<\/p><p style=\"font-weight: 400;\">However, this creates a significant wealth-building problem. Manufactured homes typically depreciate in value over time, unlike site-built homes that generally appreciate. This means Native American families are often using their limited resources to purchase assets that lose value rather than build generational wealth, perpetuating economic disparities across generations.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1cf09c0 elementor-widget elementor-widget-heading\" data-id=\"1cf09c0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Barriers Specific to Native American Communities<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0fa6b3d elementor-widget elementor-widget-text-editor\" data-id=\"0fa6b3d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"font-weight: 400;\">The lending patterns observed in our analysis point to deeply rooted economic and institutional barriers that shape access to mortgage credit for Native American communities. At the foundation of these challenges lies a profound wealth disparity: Native Americans have a median wealth of just $5,700, with the national income average being $65,000. This wealth gap creates fundamental barriers to mortgage qualification, making it difficult to meet down payment requirements and minimum income thresholds.<\/p><p style=\"font-weight: 400;\">This wealth disparity is compounded by severe banking infrastructure gaps in tribal communities. Our\u00a0<a href=\"https:\/\/ncrc.org\/redlining-the-reservation-the-brutal-cost-of-financial-services-inaccessibility-in-native-communities\/\">2023\u00a0<\/a><a href=\"https:\/\/ncrc.org\/redlining-the-reservation-the-brutal-cost-of-financial-services-inaccessibility-in-native-communities\/\"><em>Redlining the Reservation\u00a0<\/em><\/a><a href=\"https:\/\/ncrc.org\/redlining-the-reservation-the-brutal-cost-of-financial-services-inaccessibility-in-native-communities\/\">report<\/a>\u00a0found that none of the three largest US home lenders issued federally guaranteed mortgages for constructing new permanent homes on tribal lands. Between 2018 and 2021, tribal lands in Arizona received just 0.004% of small business loan dollars originating in the state, while tribal lands in New Mexico received only 0.012%. This is clear evidence of a broader financial services desert that extends beyond housing.<\/p><p style=\"font-weight: 400;\">The unique legal structure of trust land creates additional complications for aspiring homeowners. Tribal lands held in trust by the federal government cannot be used as conventional collateral, creating significant barriers to traditional mortgage lending. Without access to conventional financing options, many Native borrowers are pushed toward manufactured homes via personal property loans rather than traditional mortgages. These loans typically carry higher interest rates, shorter loan terms and fewer consumer protections than standard mortgages, limiting their long-term wealth-building potential.<\/p><p style=\"font-weight: 400;\">Geographic isolation further exacerbates these challenges. In states like New Mexico and Arizona, tribal lands are often located in remote areas far away from financial centers. This physical distance creates practical barriers to accessing financial services and mortgage products, such as access to in-person banking services, home appraisers and other professionals essential to the mortgage process.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-9d1c823 e-con-full e-flex e-con e-child\" data-id=\"9d1c823\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-7984a82 elementor-widget elementor-widget-image\" data-id=\"7984a82\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"608\" src=\"https:\/\/ncrc.org\/wp-content\/uploads\/2025\/06\/Map-1024x608.jpg\" class=\"attachment-large size-large wp-image-256677\" alt=\"Geographic location of Tribal areas\" srcset=\"https:\/\/ncrc.org\/wp-content\/uploads\/2025\/06\/Map-1024x608.jpg 1024w, https:\/\/ncrc.org\/wp-content\/uploads\/2025\/06\/Map-300x178.jpg 300w, https:\/\/ncrc.org\/wp-content\/uploads\/2025\/06\/Map-768x456.jpg 768w, https:\/\/ncrc.org\/wp-content\/uploads\/2025\/06\/Map-1536x912.jpg 1536w, https:\/\/ncrc.org\/wp-content\/uploads\/2025\/06\/Map.jpg 1600w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ab7d9cd elementor-widget elementor-widget-heading\" data-id=\"ab7d9cd\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Specialized Housing Programs Under Threat<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1d3a8c2 elementor-widget elementor-widget-text-editor\" data-id=\"1d3a8c2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"font-weight: 400;\">Native American\u00a0communities\u00a0benefit from specialized housing programs designed to address their unique circumstances. These programs now face significant threats due to proposed federal budget cuts.<\/p><p style=\"font-weight: 400;\">For Native Americans, the Section 184 Indian Home Loan Guarantee Program has been a pathway to homeownership for years. Similarly, the Indian Housing Block Grant (IHBG) program, which would absorb the competitive IHBG program under the proposed budget, has been essential for housing development on tribal lands. These programs acknowledge the unique legal status of tribal trust lands, which can often present significant barriers to traditional mortgage lending.<\/p><p style=\"font-weight: 400;\">The May 2025 &#8220;skinny&#8221; budget proposal would dramatically restructure these programs if approved, causing a 43% overall reduction to HUD rental assistance programs by block granting them to states. The IHBG-Competitive program would also be in danger of elimination if the proposed $479 million reduction in funding takes place. Such changes would severely undermine the sovereignty of tribal housing authorities and restrict access to the already limited affordable housing options in Native communities.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5033c28 elementor-widget elementor-widget-heading\" data-id=\"5033c28\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Policy Solutions for Native American Communities<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bd653c9 elementor-widget elementor-widget-text-editor\" data-id=\"bd653c9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"font-weight: 400;\"><strong>Enhance specialized loan programs:<\/strong><\/p><ul><li style=\"font-weight: 400;\">Federal lawmakers should strengthen the Section 184 Indian Home Loan Guarantee Program with expanded funding, more streamlined processes and additional education efforts toward creating greater lender participation.<\/li><li style=\"font-weight: 400;\">Regulators and lenders should reform manufactured home financing to treat these homes more like traditional mortgages, with better rates and consumer protections.<\/li><\/ul><p style=\"font-weight: 400;\"><strong>Address structural barriers:<\/strong><\/p><ul><li style=\"font-weight: 400;\">Policymakers should streamline trust land processes by standardizing title requirements, streamlining survey procedures and conducting environmental reviews across federal agencies.<\/li><li style=\"font-weight: 400;\">Regulators should expand rural banking access through targeted Community Reinvestment Act (CRA) credit and other regulatory incentives, as envisioned in the recently-withdrawn 2023 CRA rules package.<\/li><li style=\"font-weight: 400;\">Philanthropists and lawmakers should support Native CDFIs by increasing funding and capacity for Native Community Development Financial Institutions that are more knowledgeable of local needs.<\/li><\/ul><p style=\"font-weight: 400;\"><strong>Improve data and monitoring:<\/strong><\/p><ul><li style=\"font-weight: 400;\">Regulators should enhance HMDA reporting requirements to include more specific geographic identifiers for tribal lands and reservations.<\/li><li style=\"font-weight: 400;\">Policymakers should establish tribal consultation standards requiring regular consultation with tribal governments when developing lending policies that will impact Native communities.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8f249ec elementor-widget elementor-widget-heading\" data-id=\"8f249ec\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Discussion<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-02cc7e4 elementor-widget elementor-widget-text-editor\" data-id=\"02cc7e4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"font-weight: 400;\">The analysis reveals that both Native American and Native Hawaiian\/Pacific Islander communities face severe underrepresentation in mortgage lending, but through different mechanisms and challenges.<\/p><p style=\"font-weight: 400;\">For Native Hawaiian\/Pacific Islander communities, the primary barriers stem from extreme housing costs, complex land tenure systems and competition from outside investors claiming nearly one-fifth of the market. The &#8220;AAPI&#8221; label obscures the reality that while certain Asian buyer groups thrive in Hawaii&#8217;s market, capturing over one-third of all loans, Native Hawaiians receive loans at approximately one-third their population share.<\/p><p style=\"font-weight: 400;\">For Native American communities, the challenges are more varied across states but consistently severe. No state achieves proportional lending access for Native Americans, with the best-performing state (Oklahoma) still showing massive gaps. The heavy reliance on manufactured housing creates a wealth-building trap where families purchase assets that depreciate rather than appreciate, perpetuating economic disparities across generations.<\/p><p style=\"font-weight: 400;\">The multiracial identification data reveals that lending disparities affect Native Americans differently depending on their connection to tribal communities and geographic distribution. Primary Native American borrowers, who are more likely to live in or near tribal communities, face the most severe barriers to accessing traditional mortgage credit.<\/p><p style=\"font-weight: 400;\">Both\u00a0communities\u00a0benefit from specialized federal housing programs that acknowledge their unique circumstances, but these programs face elimination or severe cuts under proposed budget changes. The loss of these programs would exacerbate already severe disparities and undermine decades of progress in expanding homeownership access.<\/p><p style=\"font-weight: 400;\">The path forward requires sustained federal support for specialized lending programs, targeted efforts to address structural barriers like trust land complications and investor competition, and improved data collection that captures the distinct experiences of different indigenous communities. Without these interventions, both Native American and Native Hawaiian\/Pacific Islander families will continue to face barriers to homeownership that limit their ability to build generational wealth and achieve economic stability.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9d5e1b6 elementor-widget elementor-widget-heading\" data-id=\"9d5e1b6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Method Explanation: Identifying Detailed Race or Ethnicity<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fbff8bd elementor-widget elementor-widget-text-editor\" data-id=\"fbff8bd\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"font-weight: 400;\">The analysis method utilized for this report series systematically reviews each Applicant Ethnicity and Applicant Race field (1 through 5) to determine whether the borrower reported a detailed racial\/ethnic subgroup, such as &#8220;Mexican&#8221; or &#8220;Vietnamese,&#8221; rather than a broader racial or ethnic category, such as &#8220;Hispanic&#8221; or &#8220;Asian.&#8221; For a detailed explanation of how NCRC calculates an applicant&#8217;s race\/ethnicity, please see\u00a0<a href=\"https:\/\/ncrc.org\/ncrcs-hmda-2018-methodology-how-to-calculate-race-and-ethnicity\/\">our white paper on this topic<\/a><a href=\"https:\/\/ncrc.org\/ncrcs-hmda-2018-methodology-how-to-calculate-race-and-ethnicity\/\">.<\/a><\/p><p style=\"font-weight: 400;\">The underlying logic for the model works as follows:<\/p><ul><li style=\"font-weight: 400;\">It prioritizes detailed subgroup codes, which are defined as: Ethnicity codes 11\u201314 (e.g., Mexican, Puerto Rican, etc.) and Race codes 21\u201327 (Asian subgroups) and 41\u201344 (Pacific Islander subgroups)<\/li><li style=\"font-weight: 400;\">The formula checks each field in order (starting with Applicant Ethnicity 1), stopping at the first occurrence of a valid detailed code<\/li><li style=\"font-weight: 400;\">Once found, it returns the corresponding descriptive label (e.g., &#8220;Chinese&#8221; or &#8220;Samoan&#8221;)<\/li><li style=\"font-weight: 400;\">If no detailed subgroup is reported in any of the ten fields, the formula returns &#8220;NA&#8221;<\/li><\/ul><p style=\"font-weight: 400;\">This method ensures that records are accurately flagged when a borrower has provided specific identity information, supporting a deeper demographic analysis and more precise fair lending research over time.\u00a0<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d949e73 elementor-widget elementor-widget-off-canvas\" data-id=\"d949e73\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;entrance_animation&quot;:&quot;slideInDown&quot;,&quot;exit_animation&quot;:&quot;slideInDown&quot;}\" data-widget_type=\"off-canvas.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div id=\"off-canvas-d949e73\" class=\"e-off-canvas\" role=\"dialog\" aria-hidden=\"true\" aria-label=\"Off-Canvas\" aria-modal=\"true\" inert=\"\" data-delay-child-handlers=\"true\">\n\t\t\t<div class=\"e-off-canvas__overlay\"><\/div>\n\t\t\t<div class=\"e-off-canvas__main\">\n\t\t\t\t<div class=\"e-off-canvas__content\">\n\t\t\t\t\t<div class=\"elementor-element elementor-element-2dc9dd8 e-con-full e-flex e-con e-child\" data-id=\"2dc9dd8\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-221f4fa elementor-view-default elementor-widget elementor-widget-icon\" data-id=\"221f4fa\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-icon-wrapper\">\n\t\t\t<a class=\"elementor-icon\" href=\"#elementor-action%3Aaction%3Doff_canvas%3Aclose%26settings%3DeyJpZCI6ImQ5NDllNzMiLCJkaXNwbGF5TW9kZSI6ImNsb3NlIn0%3D\">\n\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-times\" viewBox=\"0 0 352 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M242.72 256l100.07-100.07c12.28-12.28 12.28-32.19 0-44.48l-22.24-22.24c-12.28-12.28-32.19-12.28-44.48 0L176 189.28 75.93 89.21c-12.28-12.28-32.19-12.28-44.48 0L9.21 111.45c-12.28 12.28-12.28 32.19 0 44.48L109.28 256 9.21 356.07c-12.28 12.28-12.28 32.19 0 44.48l22.24 22.24c12.28 12.28 32.2 12.28 44.48 0L176 322.72l100.07 100.07c12.28 12.28 32.2 12.28 44.48 0l22.24-22.24c12.28-12.28 12.28-32.19 0-44.48L242.72 256z\"><\/path><\/svg>\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-5934e8a e-con-full e-flex e-con e-child\" data-id=\"5934e8a\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-a69db47 elementor-widget elementor-widget-heading\" data-id=\"a69db47\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">Series Introduction<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d1a5f4b elementor-widget elementor-widget-n-accordion\" data-id=\"d1a5f4b\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;default_state&quot;:&quot;all_collapsed&quot;,&quot;max_items_expended&quot;:&quot;one&quot;,&quot;n_accordion_animation_duration&quot;:{&quot;unit&quot;:&quot;ms&quot;,&quot;size&quot;:400,&quot;sizes&quot;:[]}}\" data-widget_type=\"nested-accordion.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"e-n-accordion\" aria-label=\"Accordion. Open links with Enter or Space, close with Escape, and navigate with Arrow Keys\">\n\t\t\t\t\t\t<details id=\"e-n-accordion-item-2190\" class=\"e-n-accordion-item\" >\n\t\t\t\t<summary class=\"e-n-accordion-item-title\" data-accordion-index=\"1\" tabindex=\"0\" aria-expanded=\"false\" aria-controls=\"e-n-accordion-item-2190\" >\n\t\t\t\t\t<span class='e-n-accordion-item-title-header'><div class=\"e-n-accordion-item-title-text\"> <i>Methods and Definitions<\/i> <\/div><\/span>\n\t\t\t\t\t\t\t\t\t<\/summary>\n\t\t\t\t<div role=\"region\" aria-labelledby=\"e-n-accordion-item-2190\" class=\"elementor-element elementor-element-9d08bff e-con-full e-flex e-con e-child\" data-id=\"9d08bff\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-d75f373 elementor-widget elementor-widget-heading\" data-id=\"d75f373\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Data Sources<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-dc9fbf2 elementor-widget elementor-widget-text-editor\" data-id=\"dc9fbf2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"font-weight: 400;\"><strong>Home Mortgage Disclosure Act (HMDA) Data<\/strong>: Primary data source covering national mortgage lending patterns from 2018-2024, representing approximately 88% of all mortgage applications processed annually<\/p><p style=\"font-weight: 400;\"><strong>US Census Bureau Data<\/strong>: Used for demographic information, population statistics, and income data including the American Community Survey and Decennial Census data<\/p><p style=\"font-weight: 400;\"><strong>Consumer Financial Protection Bureau (CFPB) Data<\/strong>: Source for HMDA data collection and release<\/p><p style=\"font-weight: 400;\"><strong>Brookings Institution Research<\/strong>: Referenced for demographic projections and population growth analysis<\/p><p style=\"font-weight: 400;\"><strong>Federal Financial Institutions Examination Council<\/strong>: Source for HMDA data products<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c012019 elementor-widget elementor-widget-heading\" data-id=\"c012019\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Analysis Period and Scope<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-aa459d6 elementor-widget elementor-widget-text-editor\" data-id=\"aa459d6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"font-weight: 400;\"><strong>Time Frame<\/strong>: 2018-2024<\/p><p style=\"font-weight: 400;\"><strong>Loan Types Analyzed<\/strong>: Focus on home purchase loans for owner-occupied, site-built,\u00a01-4 unit\u00a0properties except as noted<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d2c9457 elementor-widget elementor-widget-heading\" data-id=\"d2c9457\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Data Processing Methods<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-408f167 elementor-widget elementor-widget-text-editor\" data-id=\"408f167\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"font-weight: 400;\"><strong>Race\/Ethnicity Calculation<\/strong>: Detailed subgroup identification method that prioritizes specific ethnic codes (11-14 for Hispanic subgroups, 21-27 for Asian subgroups, 41-44 for Pacific Islander subgroups) over broader categories<\/p><p style=\"font-weight: 400;\"><strong>Missing Data Treatment<\/strong>: &#8220;No Data&#8221; loans excluded from demographic calculations rather than treated as a separate racial category<\/p><p style=\"font-weight: 400;\"><strong>Year-over-Year Comparisons<\/strong>: Multi-year data compared using identical calculation methods across the 2018-2024 period<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e4c3aae elementor-widget elementor-widget-heading\" data-id=\"e4c3aae\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Key Metrics and Definitions<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6266f98 elementor-widget elementor-widget-text-editor\" data-id=\"6266f98\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"font-weight: 400;\"><strong>Low- and Moderate-Income Borrower (LMIB)<\/strong>: Borrowers with household income below 80% of area median income<\/p><p style=\"font-weight: 400;\"><strong>Low- and Moderate-Income Census Tract (LMICT)<\/strong>: Geographic areas where median family income is at or below 80% of metro area median family income<\/p><p style=\"font-weight: 400;\"><strong>Majority-Minority Census Tract (MMCT)<\/strong>: Census tracts where racial\/ethnic minorities comprise more than 50% of residents<\/p><p style=\"font-weight: 400;\"><strong>Cost Per Dollar<\/strong>: Calculated as (Total Payments Over 30 Years + Closing Costs) \u00f7 Original Loan Amount<\/p><p style=\"font-weight: 400;\"><strong>Market Share<\/strong>: Percentage of total loans in a market originated by a specific lender<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8a9be21 elementor-widget elementor-widget-heading\" data-id=\"8a9be21\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Calculation Formulas<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9d7de13 elementor-widget elementor-widget-text-editor\" data-id=\"9d7de13\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"font-weight: 400;\"><strong>Percentage Calculations<\/strong>:<\/p><ul><li style=\"font-weight: 400;\">Low and moderate-income borrower percentages: (LMIB\/Total Loans) \u00d7 100<\/li><li style=\"font-weight: 400;\">LMI Tract percentages: (LMICT\/Total Loans) \u00d7 100<\/li><li style=\"font-weight: 400;\">Majority-minority tract percentages: (MMCT\/Total Loans) \u00d7 100<\/li><li style=\"font-weight: 400;\">Race and ethnicity percentages: (Race group\/(Total Loans-No Data)) \u00d7 100<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b29021e elementor-widget elementor-widget-heading\" data-id=\"b29021e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Data Quality and Limitations<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ff15ffa elementor-widget elementor-widget-text-editor\" data-id=\"ff15ffa\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"font-weight: 400;\"><strong>Coverage Limitations<\/strong>: Analysis limited to loans with reported demographic data (approximately 4.7\u00a0million\u00a0of 5.3 million total loans in 2024)<\/p><p style=\"font-weight: 400;\"><strong>Census Boundary Changes<\/strong>: 2020 Census redrew neighborhood boundaries, affecting historical comparisons for majority-minority tract analysis starting in 2022<\/p><p style=\"font-weight: 400;\"><strong>Missing Data Impact<\/strong>: Growing number of loans without demographic data affects trend analysis accuracy<\/p><p style=\"font-weight: 400;\"><strong>Multiracial Identity Challenges<\/strong>: Difficulty measuring lending equity for people identifying as multiple races<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-17ab2cb elementor-widget elementor-widget-heading\" data-id=\"17ab2cb\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Terms<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-36af6db elementor-widget elementor-widget-text-editor\" data-id=\"36af6db\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"font-weight: 400;\"><strong>AAPI<\/strong>\u00a0&#8211; Asian American and Pacific Islander: Demographic label that groups together Asian and Pacific Islander communities<\/p><p style=\"font-weight: 400;\"><strong>AHO<\/strong>\u00a0&#8211; Access to Home Ownership: Office of Hawaiian Affairs program that guarantees portions of home loans for Native Hawaiian first-time homebuyers<\/p><p style=\"font-weight: 400;\"><strong>CDFI<\/strong>\u00a0&#8211; Community Development Financial Institution: Specialized lenders focused on serving underserved communities<\/p><p style=\"font-weight: 400;\"><strong>CFPB<\/strong>\u00a0&#8211; Consumer Financial Protection Bureau: Federal agency that oversees mortgage lending and consumer financial protection<\/p><p style=\"font-weight: 400;\"><strong>CRA<\/strong>\u00a0&#8211; Community Reinvestment Act: Federal law requiring banks to meet credit needs of their entire communities, especially low-income areas<\/p><p style=\"font-weight: 400;\"><strong>FHA<\/strong>\u00a0&#8211; Federal Housing Administration: Government agency that insures mortgages<\/p><p style=\"font-weight: 400;\"><strong>GSE<\/strong>\u00a0&#8211; Government-Sponsored Enterprise: Companies like Fannie Mae and Freddie Mac that buy mortgages from lenders<\/p><p style=\"font-weight: 400;\"><strong>HMDA<\/strong>\u00a0&#8211; Home Mortgage Disclosure Act: Federal law requiring lenders to report detailed mortgage lending data<\/p><p style=\"font-weight: 400;\"><strong>HoPI<\/strong>\u00a0&#8211; Hawaiian or Pacific Islander: Demographic category for Native Hawaiian and Pacific Islander populations<\/p><p style=\"font-weight: 400;\"><strong>HUD<\/strong>\u00a0&#8211; US Department of Housing and Urban Development: Federal agency that oversees housing programs<\/p><p style=\"font-weight: 400;\"><strong>IHBG<\/strong>\u00a0&#8211; Indian Housing Block Grant: Federal program funding housing development on tribal lands<\/p><p style=\"font-weight: 400;\"><strong>LEI<\/strong>\u00a0&#8211; Legal Entity Identifier: Unique identification code for financial institutions<\/p><p style=\"font-weight: 400;\"><strong>LMI<\/strong>\u00a0&#8211; Low- and Moderate-Income: People or areas with incomes at or below 80% of area median income<\/p><p style=\"font-weight: 400;\"><strong>LMIB<\/strong>\u00a0&#8211; Low and Moderate-Income Borrower: Borrowers with incomes below 80% of area median income<\/p><p style=\"font-weight: 400;\"><strong>LMICT<\/strong>\u00a0&#8211; Low- and Moderate-Income Census Tract: Geographic areas where median incomes fall below 80% of regional average<\/p><p style=\"font-weight: 400;\"><strong>MIP<\/strong>\u00a0&#8211; Mortgage Insurance Premium: Monthly fee paid by FHA borrowers to protect lenders against default<\/p><p style=\"font-weight: 400;\"><strong>MMCT<\/strong>\u00a0&#8211; Majority-Minority Census Tract: Neighborhoods where racial\/ethnic minorities make up more than 50% of residents<\/p><p style=\"font-weight: 400;\"><strong>RHS<\/strong>\u00a0&#8211; Rural Housing Service: USDA program providing housing assistance in rural areas<\/p><p style=\"font-weight: 400;\"><strong>VA<\/strong>\u00a0&#8211; Veterans Affairs: Government department that provides benefits to military veterans, including mortgage guarantees<\/p><p style=\"font-weight: 400;\"><strong>YoY<\/strong>\u00a0&#8211; Year-over-Year: Comparison between the same period in consecutive years<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3766a43 elementor-widget elementor-widget-text-editor\" data-id=\"3766a43\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"font-weight: 400;\">The Home Mortgage Disclosure Act (HMDA) data is collected and released each year by the Consumer Financial Protection Bureau (CFPB). This dataset offers unparalleled details about 88% of the mortgage applications processed each year. This information is critical for any regulator, advocate or lender that wants to understand the market. Data of this kind promotes fair and efficient markets.<\/p><p style=\"font-weight: 400;\">This series of research briefs will offer a deep analysis of this data and help\u00a0policymakers,\u00a0the\u00a0general public\u00a0and National Community Reinvestment Coalition (NCRC) members understand current mortgage market trends at the local level. There are a great number of topics that this data will help us explore via a series of episodes with\u00a0easy to understand\u00a0reports, policy suggestions, videos, data visualizations and maps. These insights can help various organizations and market actors to utilize this data to support fair lending programs and initiatives in their communities.<\/p><p style=\"font-weight: 400;\">There were several key takeaways and findings in the 2024 HMDA data that we will discuss in future episodes. This introduction and summary will be updated as new episodes in this series are published.\u00a0<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0ae2c4d elementor-widget elementor-widget-heading\" data-id=\"0ae2c4d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">Key Takeaways<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-865d092 elementor-widget elementor-widget-heading\" data-id=\"865d092\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">Key Findings<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bb35c5f elementor-widget elementor-widget-text-editor\" data-id=\"bb35c5f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<ol style=\"font-weight: 400;\"><li><strong>Declining Low-Income Access:<\/strong>\u00a0Lending to low- and moderate-income borrowers fell to 14.2% in 2024 (the lowest level since 2018), reflecting severe affordability challenges.<\/li><li><strong>Hispanic Market Growth:<\/strong>\u00a0Hispanic borrowers now exceed their population share in mortgage lending, reaching 17.7% of home purchase loans in 2024.<\/li><li><strong>Persistent Black Homeownership Gap:<\/strong>\u00a0Black borrower participation remains stagnant at 8.9% (well below their 11.7% share of the adult population), with declining shares in major metro areas.<\/li><li><strong>Less-Regulated Lenders Displacing\u00a0Banks:<\/strong> Mortgage companies and credit unions \u2013 whose lending activity is not covered by key economic opportunity laws like the Community Reinvestment Act \u2013 have greatly expanded their share of lending. Mortgage companies are making \u2154 of home purchase loans in 2024. Credit unions are now making more cash out\u00a0refinance\u00a0loans than banks and hold nearly the same share of the home equity market\u00a0that banks do, without the oversight offered by the\u00a0CRA.<strong>.<\/strong><\/li><\/ol>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2d61dee elementor-widget elementor-widget-text-editor\" data-id=\"2d61dee\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>Access and Affordability<\/strong><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a0e5401 elementor-widget elementor-widget-text-editor\" data-id=\"a0e5401\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Low- and moderate-income (LMI) home purchase lending continues its long decline, now at just 25.8% of all home purchases on owner occupied, 1-4 unit site built homes. Upper income borrowers dominate homebuying, even in LMI and majority minority census tracts.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-da41643 elementor-widget elementor-widget-text-editor\" data-id=\"da41643\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>Demographic Shifts<\/strong><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b512673 elementor-widget elementor-widget-text-editor\" data-id=\"b512673\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"font-weight: 400;\">Hispanic borrowers continue to expand their market presence, and in 2024 for the first time on record were slightly\u00a0<em>over<\/em>-represented in home purchase lending relative to overall population share. 17.7% of loan originations in 2024 went to a Hispanic borrower, exceeding the 16.8% percent of the overall adult population who identify as Hispanic. In contrast, the Black borrower share of the market remains well below their population representation (8.9%), with declines in key markets like Atlanta, Houston and Washington, DC.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-b67684a e-con-full e-flex e-con e-child\" data-id=\"b67684a\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t<div class=\"elementor-element elementor-element-3ae0e0a e-con-full e-flex e-con e-child\" data-id=\"3ae0e0a\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-c28596b elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"c28596b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-0c9805e e-con-full e-flex e-con e-child\" data-id=\"0c9805e\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-3df053e elementor-widget elementor-widget-heading\" data-id=\"3df053e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Resources<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-dce9c1d elementor-widget elementor-widget-text-editor\" data-id=\"dce9c1d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p class=\"p1\">For the complete series, including videos, interactive visualizations and localized market analysis, visit our 2025 Mortgage Market series\u00a0<a class=\"c-link\" href=\"https:\/\/ncrc.org\/?page_id=253438&amp;preview=1&amp;_ppp=6038dd6536\" target=\"_blank\" rel=\"noopener noreferrer\" data-stringify-link=\"https:\/\/ncrc.org\/?page_id=253438&amp;preview=1&amp;_ppp=6038dd6536\" data-sk=\"tooltip_parent\">homepage<\/a>\u00a0. NCRC members can request customized community data requests as well.\u00a0 Those interested in membership benefits should contact Ralph Cyrus (Membership Engagement Specialist) at\u00a0<a class=\"c-link\" href=\"mailto:rcyrus@ncrc.org\" target=\"_blank\" rel=\"noopener noreferrer\" data-stringify-link=\"mailto:rcyrus@ncrc.org\" data-sk=\"tooltip_parent\" aria-haspopup=\"menu\">rcyrus@ncrc.org<\/a>.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-22bfb18 e-con-full e-flex e-con e-child\" data-id=\"22bfb18\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[{&quot;jet_parallax_layout_image&quot;:{&quot;url&quot;:&quot;&quot;,&quot;id&quot;:&quot;&quot;,&quot;size&quot;:&quot;&quot;},&quot;_id&quot;:&quot;5b90c5d&quot;,&quot;jet_parallax_layout_image_tablet&quot;:{&quot;url&quot;:&quot;&quot;,&quot;id&quot;:&quot;&quot;,&quot;size&quot;:&quot;&quot;},&quot;jet_parallax_layout_image_mobile&quot;:{&quot;url&quot;:&quot;&quot;,&quot;id&quot;:&quot;&quot;,&quot;size&quot;:&quot;&quot;},&quot;jet_parallax_layout_speed&quot;:{&quot;unit&quot;:&quot;%&quot;,&quot;size&quot;:50,&quot;sizes&quot;:[]},&quot;jet_parallax_layout_type&quot;:&quot;scroll&quot;,&quot;jet_parallax_layout_direction&quot;:&quot;1&quot;,&quot;jet_parallax_layout_fx_direction&quot;:null,&quot;jet_parallax_layout_z_index&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_x&quot;:50,&quot;jet_parallax_layout_bg_x_tablet&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_x_mobile&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_y&quot;:50,&quot;jet_parallax_layout_bg_y_tablet&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_y_mobile&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_size&quot;:&quot;auto&quot;,&quot;jet_parallax_layout_bg_size_tablet&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_size_mobile&quot;:&quot;&quot;,&quot;jet_parallax_layout_animation_prop&quot;:&quot;transform&quot;,&quot;jet_parallax_layout_on&quot;:[&quot;desktop&quot;,&quot;tablet&quot;]}]}\">\n\t\t<div class=\"elementor-element elementor-element-7fce9df elementor-hidden-mobile e-flex e-con-boxed e-con e-child\" data-id=\"7fce9df\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[],&quot;sticky&quot;:&quot;top&quot;,&quot;sticky_on&quot;:[&quot;desktop&quot;,&quot;tablet&quot;],&quot;sticky_offset&quot;:100,&quot;sticky_effects_offset&quot;:0,&quot;sticky_anchor_link_offset&quot;:0}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-3e4198c elementor-widget elementor-widget-heading\" data-id=\"3e4198c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Mortgage Market Series<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-257454c elementor-widget elementor-widget-heading\" data-id=\"257454c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\"><a href=\"https:\/\/ncrc.org\/mortgage-market-report-series\">Mortgage Market series homepage<\/a><\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8b74872 elementor-widget elementor-widget-heading\" data-id=\"8b74872\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\"><a href=\"https:\/\/ncrc.org\/mortgage-market-report-series-part-1-introduction-to-mortgage-market-trends\" target=\"_blank\">PART 1: Introduction to Mortgage Market Trends<\/a><\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-013e115 elementor-widget elementor-widget-heading\" data-id=\"013e115\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\"><a href=\"https:\/\/ncrc.org\/mortgage-market-report-series-part-2-lending-trends-by-borrower-and-neighborhood-characteristics\">PART 2: Lending Trends by Borrower and Neighborhood Characteristics<\/a><\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ddef54a elementor-widget elementor-widget-heading\" data-id=\"ddef54a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\"><a href=\"https:\/\/ncrc.org\/mortgage-market-report-series-part-3-native-american-and-hawaiian-lending\">PART 3: Native American and Hawaiian Lending<\/a><\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-aacf38e elementor-widget elementor-widget-heading\" data-id=\"aacf38e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Subscribe<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-63cc1a2 elementor-widget elementor-widget-text-editor\" data-id=\"63cc1a2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Get NCRC news and <br \/>alerts by email.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9a3fcca elementor-widget elementor-widget-html\" data-id=\"9a3fcca\" 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