A significant racial and ethnic homeownership gap persists in our country, a gap that is large by every measure and is as bad as the one that existed when private race‐based discrimination was legal in the late 60’s. We have not simply failed to make progress; we have lost ground. This gap in homeownership, the country’s most pervasive wealth-building tool, exacerbates the wide and growing racial wealth gap. We cannot continue to go backwards. The Urban Institute convened stakeholders in 2018 to review the data and identify evidence‐based actions that arelikely to reduce the racial homeownership gap. This page collects research and evidence related to our work.
This monthly chartbook provides timely metrics and quick, accessible analysis on the state of the housing finance market. The chartbook brings together housing and housing finance policy and enhances evidence-based decisionmaking.
Published by Ginnie Mae’s Office of Capital Markets and prepared by the Urban Institute’s Housing Finance Policy Center and State Street Global Advisors, this comprehensive monthly report keeps Ginnie Mae investors and partners abreast of new data and developments affecting the Ginnie Mae market and the US agency mortgage-backed securities market more broadly.
How has access to mortgage credit and housing affordability changed in the years since the market’s collapse in 2008, and what can be done to ensure that creditworthy households have access to safe and affordable loans?
The Mortgage Servicing Collaborative seeks to improve access to credit by identifying and generating support for reforms that can address lenders’ concerns about originating and servicing mortgages. The Collaborative brings together a group of mortgage industry stakeholders who will identify, quantify and develop research and recommendations that bring clarity to a number of emerging mortgage market issues.
HFPC researchers regularly use HMDA data for a wide-range of research projects, listed on this page.
Manufactured housing is one of the most affordable types of housing in the US, but it's production has declined from averaging 242,000 per year between 1977 and 1993 to just 92,500 units in 2017. In a 2018 research brief, we examine the unique financing of manufactured homes and explain how the high cost of this financing may be contributing to its low production. In 3 blogs, we explore the reasons so few manufactured homes are being produced, lay out the facts about financing manufactured housing, and use new data to debunk the notion that manufactured homes do not appreciate like site-built homes.
The Housing Credit Availability Index (HCAI), introduced in November 2014, is an objective, transparent, and precise measurement of mortgage credit availability. The HCAI assesses lenders’ tolerance for both borrower risk and product risk, calculating the percentage of owner-occupied purchase loans that are likely to default. By evaluating lending standards and market conditions, the HCAI provides insight into how hard it is to get a loan. The HCAI is updated quarterly and covers the mortgage market from the first quarter of 1998.
These essays are authored by experts with a track record of thoughtful engagement on the complex and controversial issue of housing finance reform. The essays address the future housing finance system post–GSE conservatorship and explain how the authors think we could get there. The authors also address how the system they envision will help underserved communities and households. The goal of the incubator is to advance the discussion and identify new areas of agreement that may help break us out of the narrow dialectical framework we've had to date.
Housing Finance Reform
In the wake of the Great Recession, Fannie Mae and Freddie Mac (the GSEs), though in conservatorship, are still intact, with taxpayer dollars standing behind them. In an initial white paper and a subsequent paper, HFPC scholars are actively contributing to GSE reform and the design of the future state of housing finance in the United States.
Bringing Private Capital Back to the Mortgage Market
Government institutions have backed more than three-quarters of all loan originations and more than 95 percent of mortgage-backed securities since 2008. What can policymakers and industry leaders do to bring private capital back into the system and reduce risk to taxpayers? A series of papers explores topics such as representations and warranties and GSE risk-sharing deals.
The quarterly Detroit Housing Tracker monitors the latest happenings in Detroit housing and community development. It features Detroit News and Detroit Housing Market Trends.