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education. Additionally, local governments rehabihtate older homes as well as construct new affordable housing. Step 8. Discrimination is Financing Are local lenders signatories of HUD's Best Practices Program? According to HUD's webpage, none of the local lenders are signatories of the Best Practices program. (See Appendix F) Examine the Home Mortgage Disclosure Act information in your area. Is there evidence of higher denial rates for minorities and low-income individuals: Appendix A contains information from the Federal Financial Institutions Examination Council on the Charlotte MSA, in which Cabarrus County lies. The attached information in Appendix A tied many of the denial rates to debt to income ratios, employment history, credit history and insufficient cash. The overall denial rates for conventional loans ( Table 4-2 in Appendix A) are as follows: American Indian 22%, Asian 9%, Black 26%, Hispanic 29% and Caucasian 11%. For Blacks on government backed loans such as FHA, 53% were denied based on their credit history, similarly, 39% of Caucasians were denied for the same reason( See Table 8-1 in Appendix A). On government backed loans, the Debt to Income ratio was the cause for denial for 26% of Blacks and for Caucasians the rate was 32% (Table 8-1 in Appendix A). It appears that denial rates are very similar in most cases. There have been no banks in Cabarms County that have been cited for any discriminatory activities for at least five years, according to the FFIEC's website (www.ffiec:gov). For low income persons, employment history and debt to income ratio were the only appreciable differences in reasons for denial. On government backed loans, the less than 50% of median had 35% of the denials for debt to income versus only 25% for the more than 120% of median (See Table 8-1 in Appendix A). Employment history 'accounted for 6% of the deinals for less than 50% of the median income, whereas only 5% of the 120% of medians were denied for the same reason in government backed loans ( See Table 8-1 in Appendix A). Overall, it appears that most of the statistics are very similar. Appendix A contains the full charts for information on the disposition of conventional and government sponsored loans, the disposition of applications by race, gender, income, and summary information in the Charlotte-Gastonia-Rock Hill MSA. ' 3. Is there evidence of illegal redlining? Unknown. Are banking services available on an equal opportunity basis? There is a variety of banks all over the county and in all of the municipalities in Cabarrus County. Cabarrus County is located next to Chgrlotte which is a major banking center. There is a large amount of banking opportunities are within walking district of the lowest income census tract (Census Tract 421) which is located in the City of Concord. These are full service financial institutions. Additionally, Caba~'us Couniy- Analysis qf hnpedimentx w Fair Housh~g ,4ugt,st /3, 2003 ~' I {~ Page 17of22