Slate has a good article on the use of the phrase “no homo” in lyrics and homophobia in general in the hip-hop community. Jonah Weiner argues that the “no homo” reference, often used after an artists displays a quantum of sensitivity, is employed as a suffix that is “more complicated … than a simple slur.”
Weiner writes: “As society becomes increasingly gay-tolerant, hip-hop is reassessing its relationship to homosexuality and, albeit in a hedged and roundabout way, it’s possible that no homo is helping to make hip-hop a gayer place.”
Rise of the phrase, which has apparently gained ground in the NFL, is credited to rapper Cam’ron, who is also known for a one-time obsession with the color pink.
Nick Catucci writing for Vulture responded, in part: “… to call this progress might also be premature. After all, getting playful with gay-sounding phrases isn’t the same as winking at gays. … In a sense, ‘no homo’ is just a more evolved way of calling someone a ‘faggot’ — and evolved partly in that it’s more clever.”