The Truth-O-Meter Says:
Clinton

"About 40 percent of Hispanic homeowners have subprime mortgages."

Hillary Clinton on Sunday, September 9th, 2007 in a debate in Miami, Fla.

Black and Hispanic homeowners have more subprimes

At a Univision debate in Miami on Sept. 9, 2007, Clinton was asked about the federal government's role in solving the mortgage crisis. She replied that the problem was particularly serious for Hispanics because "about 40 percent of Hispanic homeowners have subprime mortgages." Government numbers indicate that's an accurate statement.

The most recent statistics compiled by the Home Mortgage Disclosure Act, cited in recent reports about the subprime lending crisis, say 40 percent of Hispanic homeowners have subprime mortgages. By comparison, 52 percent of black homeowners have subprime mortgages while only 19 percent of non-Hispanic whites do.

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About this statement:

Published: Monday, September 10th, 2007 at 12:00 a.m.

Subjects: Economy

Sources:

Home Mortgage Disclosure Act data, cited by Center for Responsible Lending, Losing Ground: Foreclosures in the Subprime Market and Their Cost to Homeowners

Written by: Bill Adair
Researched by: Shirl Kennedy
Edited by: Neil Brown, Scott Montgomery

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