As is true nationally, many home buyers in the District of Columbia have made use of subprime loans to purchase a home. Data indicate that use of subprime loans is highest in Wards 4, 5, 7, and 8, and among African-American and Latino borrowers. High use of subprime loans by these groups point to areas where predatory or illegal practices might be occurring. The D.C. Council can consider several measures to address these concerns, including providing better education and credit counseling for homebuyers, requiring more reporting by mortgage lenders, and testing mortgage lenders for fair housing practices.
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