Journal Article
Predatory lending—a grassroots perspective
Uetz, Tyler (2004-06)
Iowa Citizens for Community Improvement (CCl) is a multiissue, statewide nonprofit organization with a 28-year history and nearly 2,000 dues-paying members. CCI was founded in 1975 in Waterloo, Iowa, by people who wanted to address local problems and improve their community. Since then, CCI has expanded to include urban members from Des Moines and family farmers and other rural citizens from across the state. Iowa CCI?s purpose is to empower and unite grassroots people of all ethnic backgrounds to address problems in their community and win positive social, economic, and environmental justice.
Profitwise , Issue Jun , Pages 7-8

Journal Article
Default rates on prime and subprime mortgages: differences & similarities
Paulson, Anna L.; Amromin, Gene (2010-09)
For the past several years, the news media have carried countless stories about soaring defaults among subprime mortgage borrowers. Although concern over this segment of the mortgage market is certainly justified, subprime mortgages only account for about onequarter of the total outstanding mortgages in the United States. The remaining 75 percent are prime loans that are made to borrowers with good credit, who fully document their income and make traditional down payments. While default rates on prime loans are significantly lower than those on subprime loans, they are also increasing ...
Profitwise , Issue Sep , Pages 1-10

Discussion Paper
Subprime lending over time: the role of race
Hevener, Christy Chung; Smith, Marvin M. (2010)
Analyzes the racial gap in subprime mortgages over time. The study estimates a portion of the gap that cannot be attributed to such characteristics as income, credit score, loan amount, degree of documentation, denial rate, residence in a minority tract, and debt-to-income ratio. It concludes that the unexplained portion suggests that bias in mortgage lending cannot be ruled out.
Community Affairs Discussion Paper , Paper 10-02

Journal Article
Wisconsin moves forward to address foreclosures: a conference review
Kuehl, Steven (2008-11)
In March 2008, CCA convened ?Wisconsin Moves Forward to Address Foreclosures.? The conference was a continuation of a series of conferences that has focused on the rapid rise of foreclosures in the Federal Reserve?s Seventh District, their effects, and efforts to intercede. Conference participants have learned from experts their leading ideas, best practices and models for addressing the mounting level of foreclosures and their ill effects both in Wisconsin and the broader Midwest. This article briefly summarizes the March conference.
Profitwise , Issue Nov

Journal Article
Borrower beware: equity strippers are preying on elderly homeowners
Nathan, Luxman (1999-04)
While most subprime home equity lenders provide a valuable service for marginally creditworthy borrowers, certain disreputable lenders are engaging in more predatory lending practices. Equity strippers target elderly homeowners who are often cash poor but equity rich. These predatory lenders often convince lower-income elderly homeowners to take in high rate, high fee, second mortgages which ultimately lead to foreclosure. Luxman Nathan of the Federal Reserve Bank of Boston highlights some of the techniques used by equity strippers and what regulatory and legal options are available for ...
Communities and Banking , Issue Spr , Pages 6-17

Report
Defining and detecting predatory lending
Morgan, Donald P. (2007)
Staff Report no. 273 has been removed at the request of the author. See links to related papers.
Staff Reports , Paper 273

Journal Article
Making a difference in Chicago neighborhoods
Riley, Mary Fran; Gorey, Rochelle Nawrocki (2003-01)
Started almost 30 years ago by housing advocates to improve declining Chicago neighborhoods. Neighborhood Housing Services of Chicago (NHS) has into one of the most succesful and respected organizations of its kind in the U.S. A key to its sucess has been the ability to enlist the support of both neighborhood residents and to corporate, lending, and regulatory and political leaders in efforts to revitalize city neighborhoods. These relationships have allowed it to craft innovative homeownership opportunities for working families while responsibly leveraging public and private sector ...
Profitwise , Issue Wint

Journal Article
High profile predatory lending cases
Kuehl, Steven (2003-04)
This article provides an update on litigation to address predatory lending. The Federal Trade Commission (FTC) has been leader in the fight against deceptive and abusive mortgage lending and has consistenly waged a vigorous enforcement effort to eradicate predatory practices by lenders. The National Association of Attorney General (NAAG) has also been a major force combating predatory lending through a combined and coordinated effort by state officials. Further, some cases have been settled through a joint effort of the governmental agencies and private plaintiffs' counsel. In the past year, ...
Profitwise , Issue Spr , Pages 2-5

Conference Paper
The law and economics of remedies of predatory lending
McCoy, Patricia A.; Engel, Kathleen C. (2001)
Proceedings , Paper 790

Journal Article
Lenders and third-party brokers: perspectives on credit scoring and fair mortgage lending: article three in a five-part series
Kramer, Edward; Muller, Kathleen; Ross, Alexander C.; Lombardo, Christopher A. (2002-01)
The rise of predatory lending practices has put increasing pressure on lenders to oversee the practices of their third-party mortgage brokers. A lawyer, regulator, consumer advocate, and retired Department of Justice counselor share their perspectives on the subject.
Communities and Banking , Issue Win , Pages 17-23