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Navy Federal says external review finds ‘non-race factors’ explained mortgage approval disparities

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Tony

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The nation’s largest credit union said this week that an external review found it hadn’t considered race in mortgage underwriting, responding to CNN’s previous reporting about racial gaps in its mortgage approval rates.

Navy Federal Credit Union, which has more than 13 million members and lends to military servicemembers, Department of Defense personnel, veterans and their families, said a review it commissioned from a civil rights lawyer “found no race-based decision making in our mortgage underwriting” and that “legitimate, non-race factors” had largely explained racial differences in approval rates.

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