Geoff Smith

 

This analysis of Chicago area mortgage lending is intended as a companion piece to Woodstock Institute’s 2004 Chicago Area Community Lending Fact Book. It is meant to help put the mortgage lending data found in the Fact Book in a broader regional context.  The first section analyzes regional trends in home purchase lending with a focus on changes in home buying patterns between 1999 and 2004. The second section focuses on patterns of high cost lending and foreclosures in the region.

A guide for congregations interested in understanding their community investment options, with descriptions of financial and management aspects, as well as social benefits, of different investment options. Examples provided.

This report provides a new analysis of the payday lending industry and its customers.  Using data obtained from the Illinois Department of Financial Institutions (DFI) and various other sources, it finds major faults in the key defenses that the industry has used against stronger consumer regulation.

Describes changes in the Illinois payday lending industry since 2001 when state rules regulating the industry were approved.

This study finds that a number of basic financial services are lacking in Pilsen.  Only two institutions offer checking accounts and only two provide ATM service.  In a community that is 88 percent Latino, only one institution distributes literature in Spanish.  The study also finds that a majority of residents use currency exchanges for their primary financial needs.

Describes historical impact of secondary capital investments on low-income credit unions. Includes detailed case studies of four credit unions that are recipients of secondary capital investments. Offers policy recommendations related to the effectiveness of this investment tool.

This analysis concludes that current programs reach a small fraction of the population of lower income people. While the variety of training programs currently offered could be improved in a number of ways, the greater challenge is to figure out how to reach significantly more people with more substantive training.