Indepth analysis of persistant problems in the field of community development. Woodstock's research reports contribute to the body of knowledge used by policymakers and community development practitioners.
Bounce protection, a product that is regularly offered to many bank customers as a convenience, has turned into an excessively priced loan program, key features of which are hidden from consumers. This report analyzes the fee structure of bounce protection products offered by several major Chicago region banks.
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.
Illustrates the quantitative relationship between the level of subprime lending in a neighborhood and foreclosure levels in a subsequent period, while controlling for changes in economic and demographic characteristics that might also effect foreclosure rates.
An analysis of new federal mortgage lending data confirms that high cost subprime lending tends to be concentrated in minority communities and to African American and Hispanic borrowers. Reinvestment Alert 28 is based on new 2004 HMDA data which includes pricing information for subprime loans.
