Research Report Subprime Mortgage Lending in the District of Columbia
Subtitle
A Study for the Department of Insurance, Securities and Banking
Diane K. Levy, Peter A. Tatian, Kenneth Temkin, Kerstin Gentsch, Barika X. Williams
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This report, commissioned by the D.C. Department of Insurance, Securities, and Banking, examines the extent of subprime lending in the District of Columbia and the resulting impacts on residents and neighborhoods. The study found that subprime lending was concentrated in predominantly African-American, moderate-income neighborhoods, areas that are now experiencing a sharp rise in home foreclosures. The report recommends a number of actions to protect the city's homeowners and neighborhoods, including stronger monitoring of mortgage lenders, better outreach and education for home owners and home buyers, and creation of a loan fund to help persons refinance out of bad loans.

Research Areas Neighborhoods, cities, and metros Race and equity
Tags Racial and ethnic disparities Washington, DC, research initiative
Cities Washington-Arlington-Alexandria, DC-VA-MD-WV