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Foreclosure Exposure: a study of racial and income disparities in home mortgage lending in 172 American cities
August 31, 2007

Summary of Findings:

Over the last two years, Americans have increasingly recognized the harm done to homeowners (both families who refinance their homes and new buyers) and neighborhoods by the sharp increase of the issuance of subprime loans. Perhaps most damaging among subprime loan products are Adjustable Rate Mortgages (ARMs), exploding ARMs, no-document loans and other products that do not require lenders to take into account the loan’s long-term affordability for the borrower. ACORN’s report on the 2005 Home Mortgage Disclosure Act (HMDA) data, “The Impending Rate Shock,” demonstrated that unaffordable loans disproportionately impact minority and low- and moderate- income families and neighborhoods.  Now these high-cost loans – many of which are exploding ARMs – have led to the foreclosure crisis that we hear about daily...  Read Entire Report.

Downloads

Foreclosure Exposure PDF (610k)

National Tables 2007 HMDA Report PDF (318k)

2007 Subprime Study National Map PDF (1.4MB)

Metro area data by state:
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