ROANOKE TIMES
Copyright (c) 1996, Roanoke Times
DATE: Thursday, October 31, 1996 TAG: 9610310028
SECTION: BUSINESS PAGE: B6 EDITION: METRO
Minority lending climbs fast
WASHINGTON - Home loans to minorities have increased three times faster than total mortgage lending over the past two years, the government reported Wednesday.
The Treasury Department's office of the comptroller, which regulates national banks, said mortgage lending to minority customers was up 33.3 percent in 1995 from 1993. Overall mortgage lending during the period rose just 9.67 percent.
The biggest percentage increase was in Idaho, 99.4 percent, followed by West Virginia, 82.2 percent, Nevada, 80.2 percent, Utah, 76.8 percent, and Mississippi, 74 percent. -Associated Press
Program pinpoints bank-loan risks
NEW YORK - A leading credit information service is offering banks and other nationwide lenders a system to identify loan risk by focusing on where a borrower lives in addition to the borrower's credit history.
Equifax Inc. said the system will give lenders one more tool to determine if they should charge higher interest, offer preapproved credit cards or adjust lending limits in areas with low ratings.
It said the new system, Bankruptcy Navigator, will help banks, credit card companies and other lenders monitor and forecast payment problems with existing customers and determine areas where late payments or bankruptcies might rise. -Associated Press
Strikes could stall GM pickups
DETROIT - Production of General Motors' lucrative pickups and sport-utility vehicles could come to a halt by the weekend if strikes at two crucial plants continue, industry analysts said Wednesday.
As negotiations between the United Auto Workers and GM continued in Detroit, workers remained off the job at a truck assembly plant in Janesville, Wis., and a metal stamping plant in Indianapolis.
Janesville is the only U.S. plant that makes the popular Chevrolet and GMC Suburban and the Chevrolet Tahoe and GMC Yukon - big, highly profitable sport-utilities. Indianapolis makes hoods, roofs and other sheet metal for eight other GM light-truck assembly plants. - Associated Press
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