Publications » Housing Finance

Over the past decade, numerous studies have raised concerns that subprime lenders were inappropriately targeting economically vulnerable neighborhoods and that some borrowers,

particularly African-Americans, were paying more than necessary for mortgage financing. Indeed, there is a substantial body of literature consistent with the finding that predominantly African-American neighborhoods had much higher shares of loans originated by subprime lenders than areas where whites predominated, while even controlling for a range of factors that are likely to influence the allocation of mortg

Publication Posted Year: 2011

Authors: Apgar, William C., Jr. , Herbert, Christopher E., Mathur, Priti

Download Link: 
/Publications/pdf/risk_race_2011.pdf
Month: 
August 2009
Publication Icon: 
images/pub/FHA/RiskorRace_icon.jpg
Pages: 
77
Look Inside: 
images/pub/FHA/RiskorRace_icon.jpg, images/pub/FHA/rr_cover.jpg,images/pub/FHA/rr_foreword_1.jpg,images/pub/FHA/rr_foreword_2.jpg,images/pub/FHA/rr_toc.jpg,images/pub/FHA/rr_executive_summary.jpg
This study of the root causes of the current extremely high levels of defaults and foreclosures among residential mortgages represents the final report to Congress by the Secretary of the Department of Housing and Urban Development (HUD) pursuant to Section 1517 of the Housing and Economic Recovery Act (HERA) of 2008 (P.L. 110-289).

Publication Posted Year: 2010

Authors: U.S. Department of Housing and Urban Development

Download Link: 
/Publications/PDF/Foreclosure_09.pdf
Month: 
January 2010
Publication Icon: 
images/interim_09.jpg
Pages: 
83 pages
Look Inside: 
images/interim_09.jpg,images/pub/foreclosure_09/fc_09_1.jpg,images/pub/foreclosure_09/fc_09_2.jpg,images/pub/foreclosure_09/fc_09_3.jpg,images/pub/foreclosure_09/fc_09_4.jpg

Publication Posted Year: 2009

In recognition of the fact that a lack of savings is the most significant barrier to homeownership for most low-income families1, Congress passed the American Dream Downpayment Act of 2003, which established the American Dream Downpayment Initiative (ADDI). The ADDI program was designed to provide assistance with downpayments, closing costs, and, if necessary, rehabilitation work done in conjunction with a home purchase.

Download Link: 
/Publications/pdf/addi1.pdf
Order Link: 
http://webstore.huduser.org/web_store.cgi?alltext=ACCN-HUD11597
Month: 
November 2008
Publication Icon: 
/images/addi1_thumb.gif

Publication Posted Year: 2009

This study of the root causes of the current extremely high levels of defaults and foreclosures among residential mortgages represents the interim report to Congress by the Secretary of the Department of Housing and Urban Development (HUD) pursuant to Section 1517 of the Housing and Economic Recovery Act (HERA) of 2008 (P.L. 110-289).
Download Link: 
/Publications/PDF/int_Foreclosure_rpt_congress.pdf
Month: 
March 2009
Publication Icon: 
/images/interim1_thumb.gif
Pages: 
82 pages

This study presents findings on how much borrowers pay in closing costs when they buy a house, how much these costs vary, and factors to which the variation is related. The analysis uses data from a national sample of 7,560 FHA-insured, 30-year fixed-rate home purchase loans.

Publication Posted Year: 2008

Authors: The Urban Institute, Woodward, Susan E., Ph.D.

Download Link: 
/Publications/pdf/FHA_closing_cost.pdf
Order Link: 
http://webstore.huduser.org/web_store.cgi?alltext=ACCN-HUD11555
Month: 
May 2008
Publication Icon: 
/images/pub_fha.gif
Pages: 
270 pages

Public policy has focused on the ability of families both to acquire safe and sanitary housing in decent neighborhoods and to have sufficient income left over to purchase other essential goods and services. Over time, policy analysts have come to use "30 percent" as a standard to assess the affordability of housing. The belief is that households who have to pay more than 30 percent of their incomes for housing may be forced to forego other important needs.

Publication Posted Year: 2008

Authors: Eggers, Frederick J., Moumen, Fouad

Download Link: 
/Publications/pdf/Trends_hsg_costs_85-2005.pdf
Month: 
June 2008
Pages: 
45 pages

Publication Posted Year: 2008

* Links to all testing reports and peer reviews
*

Download the complete summary report (*.pdf, 8.35 MB)

Month: 
March 2008
Publication Icon: 
images/respa_tn.jpg

Publication Posted Year: 2008

  • HF-001, The GSEs' Funding of Affordable Loans, by Harold L. Bunce and Randall M. Scheessele, December 1996.

  • HF-002, The Multifamily Secondary Mortgage Market: The Role of Government-Sponsored Enterprises, by William Segal and Edward J. Szymanoski, March 1997.

  • HF-003, Characteristics of Mortgages Purchased by Fannie Mae and Freddie Mac 1993-95, by Paul B. Manchester, Sue George Neal, and Harold L.
    Publication Icon: 
    images/hsg_working_paper_tn.jpg
    • HUD has released a study showing that the number of subprime home loans is skyrocketing in predominantly black neighborhoods and low-income neighborhoods. While expanded access to credit is critical, there is growing evidence that some lenders may be engaged in predatory lending that is making homeownership far more costly for blacks and poor families than for whites and middle-class families.

    Publication Posted Year: 2008

    Authors: U.S. Department of Housing and Urban Development

    Order Link: 
    http://webstore.huduser.org/web_store.cgi?alltext=ACCN-11036
    Month: 
    April 2000
    Publication Icon: 
    images/uneqal_burden_tn.jpg
    Pages: 
    15 pages

    Policymakers have adopted a variety of approaches to promote homeownership in the U.S., including the special rights and privileges given to the government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac. This study examines the underserved market performance of the GSEs since new affordable housing goals were adopted in 2000. Their performance is compared with that of the primary market, the rest of the secondary market, and to each other. How well they meet their affordable housing goals is evaluated to see how effectively all members of underserved markets are reached, or whether the focus is on the least underserved. The analysis also examines the extent to which GSEs deal with primary and secondary market entities, and the effects of GSE leadership and influence on the primary market.

    Publication Posted Year: 2007

    Authors: University of Notre Dame, Williams, Richard

    Download Link: 
    /publications/pdf/altassessment_gse.pdf
    Month: 
    May 2006
    Pages: 
    83 pages
    HUD USER footer
    PD&R Mission Adobe Acrobat Reader Download Privacy Statement

    HUD USER footer

    HUD USER
    P.O. Box 23268, Washington, DC 20026-3268
    Toll Free: 1-800-245-2691    TDD: 1-800-927-7589
    Local: 1-202-708-3178    Fax: 1-202-708-9981
    The U.S. Department of Housing and Urban Development WhiteHouse.gov, Welcome to the White House The U.S. Governments Official Web Portal Fair Housing