For 60 years, the availability of private mortgage insurance (PMI) has helped millions of borrowers who have insufficient funds for a 20 percent down payment access homeownership. This report describes the industry’s evolution and lessons learned from good times and bad. This report describes the state of the PMI industry, explains who is served by PMI, PMI’s significance to the government-sponsored enterprises, and recent

August 21, 2017
Research Report
 

This brief examines the fractured relationship between residents in high-crime Chicago neighborhoods and the police that serve those communities. Based on surveys of people living in and police officers serving in four Chicago police districts on the city’s south and west sides collected as part of the evaluation of the Chicago Violence Reduction Strategy, these data demonstrate ambivalence between the police and residents.

August 21, 2017
Brief
 

For 60 years, the availability of private mortgage insurance (PMI) has helped millions of borrowers who have insufficient funds for a 20 percent down payment access homeownership. This chartbook includes extensive data about the historic and current state of the PMI industry, detailing which borrowers use PMI, how they compare with borrowers who use other forms of mortgage insurance, how PMI-insured loans perform, and the role

August 21, 2017
Research Report
 

Combining focused deterrence, community moral suasion, and social services provision, the Chicago Violence Reduction Strategy (VRS) identified and delivered an antiviolence message to street groups at high risk for both committing and being victims of shootings. VRS was associated with a 23 percent reduction in overall shooting patterns and a 32 percent reduction in shooting victimization for groups treated by VRS, relative to

August 21, 2017
Research Report
 

Tax cuts often look like “free lunches” for taxpayers, but they eventually have to be paid for with other tax increases or spending cuts. We examine the distributional effects – with and without financing – of a tax plan consistent with the outline the Trump Administration produced in April. When ignoring financing, the plan would be regressive; most households would be better off, but the highest income households would get the

August 14, 2017
Research Report
 

The number of American families that are, or are at risk of becoming, homeless or housing insecure remains stubbornly high. The problem persists, not due to lack of solutions, but for two primary reasons: political will and artificial budget divisions. The pay for success (PFS) model for financing public services offers an opportunity for state and local governments to help overcome these hurdles. This paper considers this

August 14, 2017
Brief
 

Over the past 35 years, we have witnessed a tremendous secular decline in interest rates. Mortgage rates peaked at over 18 percent in 1981 and were down to 3.54 percent by the Fall of 2016. Rates have now begun to rise and, while it is not clear how high they will go, it is clear that the secular decline in rates is over. This paper identifies and examines six impacts on the mortgage market due to the end of the secular decline

August 10, 2017
Working Paper
 

If a single mother earns $25,000 per year, can she get government help, or a subsidy, to pay for child care? If she is eligible for a subsidy, how much will she have to pay out of pocket? The answers to these questions depend on a family’s exact circumstances. Child care subsidies are provided through a federal block grant program called the Child Care and Development Fund (CCDF). Within the federal guidelines, States/

August 9, 2017
Brief
 

This Best Practices for Moderators guide serves as a tip sheet for people who are going to facilitate a panel discussion. Panel discussions can present an array of challenges for moderators. Panelists may have very different viewpoints, presentation styles, or preparation levels. Their presentations may run over time or be marred by technical difficulties. Audience members may be slow coming up with things to ask during the

August 7, 2017
Working Paper
 

While policy makers and news headlines focus on debates about health care and tax policy, the U.S. fiscal outlook remains troubling and is a constraint against which new proposals should be judged. Budget deficits appear manageable in the short run, but the nation’s debt-GDP ratio is already high relative to historical norms, and even under optimistic assumptions, both measures will rise in the future. Sustained deficits and

August 6, 2017
Research Report
 

Community organizations working to increase access to opportunity and support fair housing can use secondary data to improve their own program planning, enhance their ability to advocate for policy change, and gain a better understanding of neighborhood conditions. The guide describes types of data and how to think strategically about using data. The guide contains details on data sources related to demographics and segregation

August 2, 2017
Research Report
 

In this brief, we report nationally representative estimates of food insecurity among college students using data from the October and December Supplements to the Current Population Survey (CPS). We find that levels of food insecurity among households with students in four-year colleges and vocational education were 11.2 and 13.5 percent, respectively, in 2015—rates that are largely similar to national levels. However, food

August 1, 2017
Brief
 

This blueprint offers practical lessons for launching data sharing, integration, and analysis projects that can better inform crime prevention and reduction strategies, with a focus on spatial analysis. It addresses the major challenges those engaged in data sharing projects will encounter and describes strategies to overcome those challenges. The blueprint also serves as a guide on the spatial-statistical methods that can

July 31, 2017
Research Report
 

This brief summarizes, individually and jointly, an excise tax on carbon and an expansion of EITC benefits to childless workers. We find that although in principle a carbon tax that lowers wages could affect EITC benefits and thus impact low-to-moderate income households, the likely magnitude of the effects is very small. We find that far more important to the distribution of burden is the extent to which the carbon tax passes

July 30, 2017
Brief
 

This paper examines, individually and jointly, an excise tax on carbon and an expansion of EITC benefits to childless workers. We estimate how an illustrative tax of $32 per ton of CO2 from fossil fuel combustion would burden households differentially across the income distribution, how it could affect worker benefits from the existing EITC program by lowering wages, the share of the revenue that would be necessary to fund an

July 30, 2017
Research Report
 

The Affordable Care Act (ACA) ushered in dramatic changes for small employer health plans. Through a review of policy decisions, premium and enrollment trend data, and structured interviews with insurance executives, brokers and small business representatives in six states, researchers reveal a market undergoing a significant evolution. They find that while trends in premium and offer rates have remained relatively stable, many

July 27, 2017
Research Report
 

The credit score model currently in use for mortgage lending is outdated by nearly two decades. More recent models are available and should be used by the GSEs and mortgage lenders to encourage competition and transparency, and to allow the market to more fully and fairly serve all creditworthy borrowers seeking a mortgage.

July 27, 2017
Note
 

This report analyzes how Southeast Michigan’s housing market is expected to change in future decades, shifting from a dynamic where Detroit lost people and households while the suburbs grew, to one of more shared growth and shared challenges. It does this by using regional population and household projections to identify developing patterns of household formation and tenure. In addition to approximately 380,000 more households

July 26, 2017
Research Report
 

The July 2017 edition of At A Glance, the Housing Finance Policy Center’s reference guide for mortgage and housing market data, includes updated figures describing housing credit availability, first-time homebuyer share, GSE portfolio wind-down, and latest agency and non-agency issuance activities.

July 25, 2017
Research Report
 

Republicans could be adding $200 billion in federal funding to the Better Care Reconciliation Act (BCRA) to offset Medicaid expansion coverage losses that would result from provisions of the bill. Building off our previous analysis of the cost and coverage effects of BCRA, we estimate the 2022 costs of enrolling the Medicaid-expansion population in BCRA-compliant Marketplace coverage and providing “wrap” benefits that would

July 24, 2017
Brief
 

Working longer can significantly benefit older adults, improving their financial security and possibly their physical and emotional health. Older adults have been working more over the past two decades, but employment gains after age 65 have been concentrated among college graduates. Early retirement will likely create growing financial challenges for less-educated older adults, who risk falling further behind their better-

July 24, 2017
Research Report
 

We have prepared 31 state-specific analyses, comparing net premiums plus deductibles and net premiums plus deductibles as a percentage of income in 2020 under the Affordable Care Act (ACA) and the revised Better Care Reconciliation Act (BCRA) introduced in the Senate on July 20, 2017. BCRA would significantly broaden age rating in the nongroup market and would reduce premium tax credits for older adults, so we use a single 60-

July 21, 2017
Brief
 

We have prepared 31 state-specific analyses, comparing net premiums plus deductibles and net premiums plus deductibles as a percentage of income in 2020 under the Affordable Care Act (ACA) and the revised Better Care Reconciliation Act (BCRA) introduced in the Senate on July 20, 2017. BCRA would significantly broaden age rating in the nongroup market and would reduce premium tax credits for older adults, so we use a single 60-

July 21, 2017
Brief
 

We have prepared 31 state-specific analyses, comparing net premiums plus deductibles and net premiums plus deductibles as a percentage of income in 2020 under the Affordable Care Act (ACA) and the revised Better Care Reconciliation Act (BCRA) introduced in the Senate on July 20, 2017. BCRA would significantly broaden age rating in the nongroup market and would reduce premium tax credits for older adults, so we use a single 60-

July 21, 2017
Brief
 

We have prepared 31 state-specific analyses, comparing net premiums plus deductibles and net premiums plus deductibles as a percentage of income in 2020 under the Affordable Care Act (ACA) and the revised Better Care Reconciliation Act (BCRA) introduced in the Senate on July 20, 2017. BCRA would significantly broaden age rating in the nongroup market and would reduce premium tax credits for older adults, so we use a single 60-

July 21, 2017
Brief