Research

Read our report -- Lost Ground, 2011: Disparities in Mortgage Lending and Foreclosures Completed Foreclosures and Serious Delinquencies (2004 – 2008 mortgage originations) STATES By borrower race & ethnicity By borrower income By neighborhood income By neighborhood minority concentration METROPOLITAN AREAS By borrower race & ethnicity By borrower income By neighborhood income By neighborhood minority concentration

Homeville.us By joining Homeville and tweeting, you're standing up for the mortgages we need now. Fair loans that serve all creditworthy borrowers. Designed to last. Recovering the American Dream After years of steady progress, the homeownership rate in America has seen its biggest drop since the Great Depression. Lax lending rules and Wall Street's lust for bad mortgages triggered a...

The NCLC/CFA 2011 Refund Anticipation Loan Report Chi Chi Wu, National Consumer Law Center Contributing author: Jean Ann Fox, Consumer Federation of America? Executive Summary Refund anticipation loans (RALs) are one to two week loans made by banks, facilitated by tax preparers, and secured by the taxpayer's expected tax refund. RALs can carry triple digit APRs, and expose taxpayers to...

As state Attorneys General wrap up their robo-signing investigation, CRL joins Americans for Financial Reform in urging AGs to produce a strong settlement for homeowners: one that prevents unnecessary foreclosures and keeps the door open for more legal remedies in the future.

A new CRL report describes how banks are adding payday loans to their arsenal of predatory loan products. These loans drain cash from cash-strapped Americans, often social security recipients. The banks are making loans to their checking account customers based on the customer's direct deposit paycheck. The fees are high and the entire principal is deducted on payday, which, like...

Download our analysis A new poll shows that American voters broadly support the 2010 Dodd-Frank Wall Street Reform law. The poll--conducted by Lake Research Partners for CRL, AARP, and Americans for Financial Reform--reveals that voters overwhelmingly support the Consumer Finance Protection Bureau and its specific functions. Learn more about CFPB Some key findings from this poll: Likely voters, including majorities...

Mortgages servicers should be required to give every mortgage holder "a good-faith review of foreclosure alternatives" before taking steps to take his or her home, CRL president Michael Calhoun told Congress today. In testimony before the House Financial Services Committee's Subcommittee on Financial Institutions and Consumer Credit and Subcommittee on Oversight and Investigations, he recommended that servicers be required to...

Better Overdraft Policies Put Money Back In Consumers' Pockets Regulators Must Stop Remaining Overdraft Abuses A new study by Market Rates Insight finds that Americans saved $1.6 billion in overdraft fees in 2010 after the "opt-in" rule took effect last summer. Once banks were required to get explicit permission before approving debit card overdrafts for a fee, most Americans said...

Finding the Right Balance Lack of underwriting, not low down payments, caused the current crisis. Strong underwriting is the best way to rein in risky loans—and Dodd-Frank already requires this. As part of implementing the Dodd-Frank financial reform bill, federal regulators are charged with defining a "Qualified Residential Mortgage" or QRM. Government proposals have called for down payments up to...

Federal regulators are proposing to mandate down payment requirements up to 20% on future home loans. Their proposal is part of the proposed standards for defining a " Qualified Residential Mortgage," or QRM. This brief updates and supplements "Don't Mandate Large Down Payments on Home Loans," published by CRL in March 2011. [1] Our analysis shows that a 10% down...