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Home > Initiatives > Predatory Lending Reform > Research and Reports on Predatory Mortgage Lending   Printer-friendly
 

Research and Reports on Predatory Mortgage Lending

General | Academic | Government

Research and Reports Relating to High-Cost Non-Mortgage Lending

Payday Lending | Refund Anticipation Loans | Rent-to-Own | Credit Cards | Pawnbrokers | Other

A. GENERAL

  1. AARP Public Policy Institute, Subprime Originations and Foreclosures in New York State: A Case Study of Nassau, Suffolk, and Westchester Counties, Herbert, C. et al. Abt Associates (September 2002).
  2. AARP Public Policy Institute, Prime and Subprime Refinance Mortgage Lending Across the States: A Geodemographic Analysis, D17690(602) [This is a CD with HMDA data analysis, maps, and summary for 50 states and selected MSAs.]
  3. Andrews, Wright, HUD/FRB Report on RESPA/TILA Reform, Virginia National Home Equity Mortgage Association (1995).
  4. Association of Community Organizations for Reform Now (ACORN), Separate and Unequal: Predatory Lending in America (Oct. 2000). Available at: http://www.acorn.org/PDF/SeperateandUnequal.PDF
  5. Association of Community Organizations for Reform Now (ACORN), Stripping the Wealth: An Analysis of Predatory Lending in Boston.
  6. Avery, Robert B., et al., Credit Risk, Credit Scoring, and the Performance of Home Mortgages, FED. RES. BULL. 621 (July 1996)
  7. Avery, Robert B., et al., Neighborhood Information and Home Mortgage Lending, 45 J. URBAN ECON. 287 (1999)
  8. Bender, Steven W., Rate Regulation at the Crossroads of Usury and Unconscionability: The Case for Regulating Abusive Commercial and Consumer Interest Rates Under the Unconscionability Standard, 31 HOUS. L. REV. 721 (1994)
  9. Berkovec, Jim & Zorn, Peter, How Complete is HMDA? HMDA Coverage of Freddie Mac Purchases, Journal of Real Estate Research 11:39-55 (1996).
  10. Berry, Michael & Darwish, Nisreen, MCAP’s Continuing Role in Ensuring Fairness in Mortgage Lending, 10 Profitwise 1.
  11. Bogdon, A. & C. Bell, eds., MAKING FAIR LENDING A REALITY IN THE NEW MILLENNIUM (2000)
  12. Bradford, Calvin, Risk or Race: Racial Disparities and the Subprime Refinance Market, Center for Community Change (May 2002) Available at: http://www.communitychange.org/default.asp
  13. Bradford, Calvin, Crisis in Déjà Vu: A Profile of the Racial Patterns in Home Purchase Lending in the Baltimore Area Market from 1995-1997, The Public Justice Center (2000).
  14. Brennan, William J., Jr., New Dimensions in Home Ownership and Housing Finance: Understanding the Subprime Market, Atlanta Home Defense Program, Atlanta Legal Aid Society (1998).
  15. Burton, John R., Swagler, Roger & Koonce Lewis, Joan, The Alternative Financial Sector: Policy Implications for Poor Households, 42 Cons. Interests Annual 279 (1996).
  16. Calomiris, Charles W., et al., Housing Finance Intervention and Private Incentives: Helping Minorities and the Poor, 26 J. OF MONEY, CREDIT & BANKING 634 (1994).
  17. Campen, Jim, Borrowing Trouble? – Subprime Mortgage Lending in Greater Boston, 1999, Massachusetts Community & Banking Council (2001).
  18. Campen, Jim, Borrowing Trouble? II – Subprime Mortgage Lending in Greater Boston, 1999 – 2000, Massachusetts Community & Banking Council (2001).
  19. Campen, Jim, Borrowing Trouble? IV – Subprime Mortgage Lending in Greater Boston, 2000 – 2002, Massachusetts Community & Banking Council (2004).
  20. Campen, Jim, Changing Patterns VIII - Mortgage Lending to Traditionally Undeserved Borrowers & Neighborhoods in Greater Boston, 1990-1999, Massachusetts Community & Banking Council (Dec. 2000).
  21. Campen, Jim, Changing Patterns X - Mortgage Lending to Traditionally Undeserved Borrowers & Neighborhoods in Greater Boston, 1990-2002, Massachusetts Community & Banking Council (2003).
  22. Canner, Glenn B. & Passmore, Wayne, Home Purchase Lending in Low-Income Neighborhoods and to Low-Income Borrowers, Federal Reserve Bulletin 81:71-103 (1995).
  23. Canner, Glenn B. & Passmore, Wayne, The Role of Specialized Lenders in Extending Mortgages to Lower-Income and Minority Homebuyers, 85 Fed. Res. Bull. 709 (November 1999).
  24. Canner, Glenn B., et al., Recent Developments in Home Equity Lending, FED. RES. BULL. 241 (April 1998).
  25. Carr, James H. & Schuetz, Jenny, Financial Services in Distressed Communities: Issues and Answers, Fannie Mae Foundation (Aug. 2001).
  26. Carr, James H. & Kolluri, Lopa, Predatory Lending: An Overview, Fannie Mae Foundation (Aug. 2001).
  27. The Center for Statistical Research, Subprime Lending in Arizona: An Empirical Analysis, available at http://www.arizonafsa.org/memberfiles/AZ_-_CSR_Study_2004.pdf (released by the Arizona Financial Services Association)
  28. Clauretie, Terrence M. & Thomas Herzog, The Effect of State Foreclosure Laws on Loan Losses: Evidence from the Mortgage Insurance Industry, 22 J. MONEY, CREDIT & BANKING 225 (1990).
  29. Clauretie, Terrence M. & Mel Jameson, Interest Rates and the Foreclosure Process: An Agency Problem in FHA Mortgage Insurance, 57 J. RISK & INSURANCE 701 (1990).
  30. Consumer Federation of America, While Homeownership Rises, Home Equity Stagnates But Lower-Income and African-American Families Make Gains (Nov. 16, 2000).
  31. Consumer Financial Services Law Report, Mortgage Lending (Aug. 2001).
  32. Curtin, Richard T., National Survey of Home Equity Loans, Surveys Research Center, The University of Michigan (Oct. 1998).
  33. Daugherty, Richard R., Note & Comment, Will North Carolina’s Predatory Home Lending Act Protect Borrowers From the Vulnerability Caused by the Inadequacy of Federal Law?, 4 N.C. BANKING INST. 569 (2000).
  34. Dearborn, Lynne, Mortgage Foreclosures and Predatory Lending in St. Clair County, Ill., 1996-2000 (Draft)
  35. Dearborn, Patricia, Mortgage Foreclosures and Predatory Lending in St. Clair County, Illinois 1996-2000, [Forthcoming]
  36. Downie, Leonard Jr., Mortgage in America: The Real Cost of Real Estate Speculation, New York: Praeger Publishers (1974).
  37. Duca , John V. & Rosenthal, Stuart S., Do Mortgage Rates Vary Based on Household Default Characteristics? Evidence on Rate Sorting and Credit Rationing, 8 J. REAL EST. FIN. & ECON. 99 (1994).
  38. Ehrenberg, Daniel S., If the Loan Doesn’t Fit, Don’t Take It: Applying the Suitability Doctrine to Eliminate Predatory Lending, 10 J. Affordable Housing & Community Dev. Law 117 (2001).
  39. Ernst, Keith, Farris, John & Stein, Eric, North Carolina’s Subprime Home Loan Market After Predatory Lending Reform, Center for Responsible Lending (August 2002). Available at: www.responsiblelending.org
  40. Fannie Mae Foundation, Proceedings from "Making Fair Lending a Reality in the New Millennium" (June 30, 1999). Available at: http://www.fanniemaefoundation.org/research/index.htm
  41. Fishbein, Allen & Bruce, Harold, Subprime Market Growth and Predatory Lending. Housing Policy in the New Millenium.
  42. Freddie Mac, Automated Underwriting: Making Mortgage Lending Simpler and Fairer for America’s Families (September 1996). Available at: http://www.freddiemac.com/corporate/reports/ (contains the finding that 10% to 35% of borrowers who got subprime mortgages qualified for conventional mortgages. See Chapter 5, footnote 5. Based on 15,000 loans from four lenders).
  43. Garcia, Norma, The Hard Sell: Home Equity Lending Fraud in California, Consumers Union, July 1998. Available at http://64.224.99.117/finance/hsreportwc898.htm
  44. Gruenstein, Debbie & Herbert, Christopher, Analyzing Trends in Subprime Originations and Foreclosures: A Case Study of the Atlanta Metro Area, Abt Associates, Inc. (Feb. 2000). Available at: http://www.nw.org/network/strategies/campaign/predatory/abt.pdf
  45. Gruenstein, Debbie & Herbert, Christopher, Analyzing Trends in Subprime Originations and Foreclosures: A Case Study of the Boston Metro Area, Abt Associates, Inc. (Sept. 2000).
  46. Harvey, Keith D., et al., Disparities in Mortgage Lending, Bank Performance, Economic Influence and Regulatory Oversight, 23 J. Real Est. Fin. & Econ. 379 (2001).
  47. Hermanson, Sharon & Walters, Neal, Subprime Mortgage Lending and Older Borrowers, AARP (March 2001). Available at: http://research.aarp.org/consume/dd57_lending.html
  48. Hermanson, Sharon & Walters, Neal, Older Subprime Refinance Mortgage Borrowers, AARP (July 2002).
  49. Heuson, Andrea, Passmore, Wayne & Sparks, Roger, Credit Scoring and Mortgage Securitization: Implications for Mortgage Rates and Credit Availability (Oct. 6, 2000).
  50. Immergluck, Daniel & Wiles, Marti, Two Steps Back: The Dual Mortgage Market, Predatory Lending and the Undoing of Community Development, Woodstock Institute (Nov. 1999) Available at: http://www.woodstockinst.org/2steps.pdf
  51. Immergluck, Daniel, The Explosion of the Subprime Industry and Racial Hypersegmentation in Home Equity Lending, Woodstock Institute (2000).
  52. Immergluck, Daniel, A Comment on: Credit Risk and Mortgage Lending: Who Uses Subprime and Why? By Anthony Pennington-Cross, Anthony Yezer, and Joseph Nichols, the Research Institute for Housing America, Working Paper 00-03, Woodstock Institute (Nov. 2000).
  53. Immergluck, Daniel & Wiles, Marti,. An Analysis of the 1998 Refinance Lending Patterns of Bank of America Corporation Affiliates in the Chicago Area, Woodstock Institute (2000).
  54. Immergluck, Daniel, Jacob, Katy, & Bush, Malcolm, Rhetoric and Reality: An Analysis of Mainstream Credit Unions’ Record of Serving Low-Income People, Woodstock Institute (Feb. 2002).
  55. Jackson, Howell E. & Berry, Jeremy, Yield Spread Premiums and the Trilateral Dilemma in Financial Regulation (July 26, 2001).
  56. Kalser, Kathy R. & Novak, Debra L., Subprime Lending: A Time for Caution, Regional Outlook, Federal Deposit Insurance Corporation (1997).
  57. Lang, William W. & Leonard I. Nakamura, A Model of Redlining, 33 J. OF URBAN ECON. 223 (1993)
  58. Lax, Howard, et al., Subprime Lending: An Investigation of Economic Efficiency (Dec. 21, 2000) (unpublished manuscript).
  59. Lee, Dwight R & Verbrugge, James A., The Subprime Home Equity Lending Market: An Economic Perspective (July 1, 1998) (unpublished manuscript).
  60. Ling, David C. & Susan M. Wachter, Information Externalities and Home Mortgage Underwriting, 44 J. OF URBAN ECON. 317 (1998).
  61. Litan, Robert, A Prudent Approach to Prevent Predatory Lending (Feb. 2001).
  62. Longhofer, Stanley D., Measuring Pricing Bias in Mortgages, ECON. COMMENTARY 1 (Aug. 1, 1998).
  63. Longhofer, Stanley D., & Paul S. Calem, Mortgage Brokers and Fair Lending, ECON. COMMENTARY 2 (May 15, 1999).
  64. Lopez, Frank, Note, Using the Fair Housing Act to Combat Predatory Lending, 6 GEO. J. POVERTY LAW & POL’Y 73 (1999).
  65. Mansfield, Cathy Lesser, Testimony before House Committee on Financial Services (May 2000). (Foreclosure data from SEC filings of leading subprime lenders, with average delinquency and foreclosure rates.)
  66. Mansfield, Cathy Lesser, Women in the Financial Services Revolution: Women and Predatory Lending, Consumer Assembly 2000, Consumer Federation of America (2000).
  67. Miami Valley Fair Housing Center [the Dayton study], Predation in the Sub-Prime Lending Market: Montgomery County (November 2001), available at: http://www.mvfairhousing.com
  68. Mitchell, Kathy, In Over Our Heads: Consumers Report Predatory Lending and Fraud in Manufactured Housing, Consumers Union, February 2002. Available at http://www.consumersunion.org/other/mh/overinfo.htm
  69. Mitchell, Kathy, & Woody Widrow, Access to the Dream 2000: Prime and Subprime Mortgage Lending in Texas, Consumers Union, April, 2000. Available at http://64.224.99.117/finance/access_info_page.htm
  70. Mortgage Bankers Association of America, The Non-Conforming Credit Lending Committee Working Group Report/Subprime Lending and High Cost Mortgages: Recommended “Best Practices” & “Legislative Guidelines” (available at http://www.mbaa.org/resident/lib2000/0525b.html).
  71. National Community Reinvestment Coalition (NCRC), The Broken Credit System: Discrimination and Unequal Access to Affordable Loans by Race and Age (2003) available at http://ncrc.org/content.php?section=consumer_resources/discrimination.
  72. National Training and Information Center (NTIC), Analysis of Chicago Foreclosures, (Dec. 2002) available at: http://www.ntic-us.org/issues/predatorylending/foreclosurecrisis.pdf
  73. National Training and Information Center (NTIC), Citigroup: Reinventing Redlining (June 3, 2002).
  74. National Training and Information Center (NTIC), Slash and Burn Financing: A Study of Citifinancial’s Recent Lending in Chicago (2001). Available at: http://www.ntic-us.org/currentevents/press/slashandburn.htm
  75. National Training and Information Center (NTIC), Preying on Neighborhoods: Subprime mortgage lending and Chicagoland foreclosures (Sept. 1999). Available at: http://www.ntic-us.org/preying/preying.html
  76. Ohio Community Reinvestment Project, The Expanding Role of Subprime Lending in Ohio's Burgeoning Foreclosure Problem - A Three County Study of a Statewide Problem (2003) available at http://www.cohhio.org/projects/ocrp/SubprimeLendingReport.pdf
  77. Ostas, James R., Effects of Usury Ceilings in the Mortgage Market, 31 J. FINANCE 821 (1976).
  78. Passmore, Wayne & Roger W. Sparks, The Effect of Automated Underwriting on the Profitability of Mortgage Securitization (working paper May 1997).
  79. Pennington-Cross, Anthony, Yezer, Anthony & Nichols, Joseph, Credit Risk and Mortgage Lending: Who Uses Subprime and Why? Working Paper No. 00-03, Research Institute for Housing America (Sept. 2000).
  80. Phaup, Dwight & John Hinton, The Distributional Effects [of] Usury Laws: Some Empirical Evidence, 9 ATLANTIC ECONOMIC J. 91 (1981)
  81. Phillips, Robert F., Trost, Robert P. & Yezer, Anthony M.J., Bias in Estimates of Discrimination and Default in Mortgage Lending: The Effects of Simultaneity and Self-Selection, Journal of Real Estate Finance and Economics 9:197-215 (1994).
  82. Quercia, Roberto & Michael Stegman, Walter Davis, The Impact of North Carolina’s Anti-Predatory Lending Law: A Descriptive Assessment, June 25, 2003, Center for Community Capitalism, University of North Carolina at Chapel Hill
  83. Reibel, Michael, Geographic Variation in Mortgage Discrimination: Evidence from Los Angeles, Urban Geography 21 (1): 45-60. 2000.
  84. The Reinvestment Fund, Predatory Lending: An Approach to Identifying and Understanding Predatory Lending (2004)
  85. Ross, Stephen & Yinger, John, Does Discrimination in Mortgage Lending Exist? The Boston Fed Study and Its Critic, In Mortgage Lending Discrimination: A Review of Existing Evidence, edited by Margery Austin Turner and Felicity Skidmore, pp. 43-84. Washington, DC: The Urban Institute (1999). Available at: http://www.urbaninstitute.org/housing/mortgage_lending.pdf
  86. Smith, Robin & Michelle DeLair, New Evidence from Lender Testing: Discrimination at the Pre-Application Stage, in MORTGAGE LENDING DISCRIMINATION: A REVIEW OF THE EXISTING EVIDENCE (Margery Austin Turner & Felicity Skidmore, eds., 1999)
  87. SMR Research, Where Subprime Customers Live (1988) Available at: http://www.smrresearch.com/WSCL98.html
  88. Squires, Gregory, “Community Reinvestment: An Emerging Social Movement” From Redlining to Reinvestment: Community Responses to Urban Disinvestment, edited by Gregory Squires, pp. 1-37. Philadelphia: Temple University Press (1992).
  89. Squires, G. & Velez,W., Neighborhood Racial Composition and Mortgage Lending: City and Suburban Differences, Journal of Urban Affairs 9: 217-32 (1987).
  90. Staten, Michael and Elliehausen, Gregory, The Impact of The Federal Reserve Board’s Proposed Revisions to HOEPA on the Number and Characteristics of HOEPA Loans, American Financial Services Association (July 24, 2001).
  91. Stein, Eric, Quantifying the Economic Cost of Predatory Lending, Coalition for Responsible Lending (July 25, 2001). Available at: www.responsiblelending.org
  92. Stein, Kevin & Libby, Margaret, Stolen Wealth: Inequities in California’s Subprime Mortgage Market, California Reinvestment Committee (Dec. 2001).
  93. Tansey, Michael M. & Patricia H. Tansey, An Analysis of the Impact of Usury Ceilings on Conventional Mortgage Loans, 9 J. AM. REAL ESTATE & URBAN ECON. ASS’N 265 (1981).
  94. Tennessee Consumer Finance Association (TCFA), Subprime Lending in Tennessee: An Empirical Analysis (2004).
  95. Turner, Margaret Austin & Skidmore, Felicity, eds. Mortgage Lending Discrimination: A Review of Existing Evidence, The Urban Institute (1999). Available at: http://www.urbaninstitute.org/housing/mortgage_lending.pdf
  96. Turner, Margaret Austin, et al., All Other Things Being Equal: A Paired Testing Study of Mortgage Lending Institutions, The Urban Institute (April 2002)
  97. Weicher, John, The Home Equity Lending Industry: Refinancing Mortgages for Borrowers with Impaired Credit (1997).
  98. Williams, Richard & Reynold Nesiba and Eileen Diaz McConnell, The Changing Face of Inequality in Home Mortgage Lending, August 2003, available at http://www.nd.edu/~rwilliam/research/cfi/index.html
  99. White, Alan M. & Mansfield, Cathy Lesser, Subprime Mortgage Foreclosures: Mounting Defaults Draining Home Ownership, Presentation at HUD-Treasury Predatory Lending Task Force Hearing in New York (2000).
  100. Wong, Victoria & Norma Paz Garcia, There's No Place Like Home: The Implications of Reverse Mortgages on Seniors in California, Consumers Union, August 1999. Available at http://64.224.99.117/finance/revinfowc899.htm
  101. Woodward, Susan, Consumer Confusion in the Mortgage Market (from Sand Hill Econometrics) available at http://sandhillecon.com/consumer_confusion.pdf
  102. Wyly, Elvin K. & Holloway, Steven R., “The Color of Money” Revisited: Racial Lending Patterns in Atlanta's Neighborhoods, Housing Policy Debate 10(3): 555-600 (1999).
  103. Wyly, Elvin K., Invisible Cities: Geography and the Disappearance of ‘race’ from mortgage-lending data in the USA, Social and Cultural Geography, Vol. 3, No. 3 (2002).
  104. Zimmerman, Ken, Wyly, Elvin & Botein, Hilary, Predatory Lending In New Jersey: The Rising Threat To Low-Income Homeowners, New Jersey Institute for Social Justice (Feb. 2002). Available at: http://www.njisj.org/

B. ACADEMIC

  1. Brani, G. Carol, Civil Rights and Mortgage Lending Discrimination: Establishing a Prima Facie Case under the Disparate Treatment Theory, 5 RACE & ETHNIC ANCESTRY L.J. 42 (1999).
  2. Dane, Stephen M., Eliminating the Labyrinth: A Proposal to Simplify Federal Mortgage Lending Discrimination Laws, 26 U. MICH. J.L. REFORM 527 (1993).
  3. Eggert, Kurt, Lashed to the Mast and Crying for Help: How Self-Limitation of Autonomy Can Protect Elders from Predatory Lending, 35 Loyola L. Rev. 693 (Winter 2003).
  4. Eggert, Kurt, Held Up In Due Course: Codification and the Victory of Form Over Intent in Negotiable Instrument Law, 35 Creighton L. Rev. 363 (Apr. 2002).
  5. Eggert, Kurt, Held Up In Due Course: Predatory Lending, Securitization, and the Holder in Due Course Doctrine, 35 Creighton L. Rev. 503 (Apr. 2002).
  6. Engel, Kathleen & McCoy, Patricia, A Tale of Three Markets: The Law and Economics of Predatory Lending, 80 Texas Law Review 1255 (May 2002). Paper available at: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=286649.
  7. Engel, Kathleen & McCoy, Patricia, The CRA Implications of Predatory Lending, 29 Fordham Urb. L.J.1571 (2002).
  8. Forrester, Julie Patterson, Mortgaging the American Dream: A Critical Evaluation of the Federal Government’s Promotion of Home Equity Financing, 69 Tulane Law Review 373 (Dec. 1994).
  9. Forrester, Julia Patterson, Constructing a New Theoretical Framework for Home Improvement Financing, 75 ORE. L. REV. 1095 (1996)
  10. Goldstein, Deborah, Protecting Consumers From Predatory Lenders: Defining the Problem and Moving Toward Workable Solutions, 35 Harv. C.R.-C.L. L. Rev. 225. (Winter 2000).
  11. Goldstein, Deborah, Understanding Predatory Lending: Moving Toward a Common Definition and Workable Solutions, Cambridge, MA: Joint Center for Housing Studies of Harvard University, Cambridge, MA. (1999).
  12. Harkness, Donna S., Predatory Lending Prevention Project: Prescribing a Cure for the Home Equity Loss Ailing the Elderly, 10 B.U. PUB. INT. L.J. 1 (2000).
  13. Havard, Cassandra Jones, Invisible Markets Netting Visible Results: When Sub-Prime Lending Becomes Predatory, 26 Okla. City U.L. Rev. 1057 (Fall 2001).
  14. Hylton, Keith N., Banks and Inner Cities: Market and Regulatory Obstacles to Development Lending, 17 YALE J. ON REG. 197 (2000)
  15. Hylton, Keith N., & Vincent D. Rougeau, Lending Discrimination: Economic Theory, Econometric Evidence, and the Community Reinvestment Act, 85 GEO. L.J. 237 (1996).
  16. Hynes, Richard & Eric A. Posner, The Law and Economics of Consumer Finance (Working Paper February 20, 2001).
  17. Jackson, Howell E. & Jeremy Berry, Kickbacks or Compensation: The Case of Yield Spread Premiums, 2002 (unpublished) (Note: similar to expert report in Glover v. Standard Federal Bank, Civil No. 97-2068 (DWF/SRN) (U.S. District Court, District of Minnesota, submitted July 9, 2001)
  18. Jaworski, Robert M., Overages: To Pay or Not to Pay, That is the Question, 13 Banking L.J. 909 (1996).
  19. Johnson, Michele L., Your Loan is Denied, but What about Your Lending Discrimination Suit? Latimore v. Citibank Federal Savings Bank, 151 F.3d 712 (7th Cir. 1998), 68 U. CINN. L. REV. 185 (1999)
  20. Keest, Kathleen & Drysdale, Lynn, The Two-Tiered Consumer Financial Services Marketplace: The Fringe Banking System and its Challenge to Current Thinking About the Socio-Economic Role of Usury Laws in Today’s Society, 51 S.C. L. Rev. (2000).
  21. Lambert, Timothy C., Fair Marketing: Challenging Pre-Application Lending Practices 87 GEO. L.J. 2181 (1999).
  22. LoPucki, Lynn M., The Death of Liability, 106 Yale L.J. 1. (1996).
  23. Mansfield, Cathy Lesser, The Road to Subprime “HEL” Was Paved with Good Congressional Intentions, 51 S.C. L. Rev. 473 (Spring 2000).
  24. Marisco, Richard D., Patterns of Lending to Low-Income and Minority Persons and Neighborhoods: The 1999 New York Metropolitan Area Mortgage Lending Scorecard, 17 N.Y.L. Sch. J. Hum. Rts. 199.
  25. Rice, Willy E., Race, Gender, “Redlining,” and the Discriminatory Access to Loans, Credit, and Insurance: An Historical and Empirical Analysis of Consumers Who Sued Lenders and Insurers in Federal and State Courts, 1950-1995, 33 SAN DIEGO L. REV. 583 (1996)
  26. Schill, Michael H., An Economic Analysis of Mortgagor Protection Laws, 77 VA. L. REV. 489 (1991).
  27. Schuster, Ronald K., Lending Discrimination: Is the Secondary Market Helping to Make the ‘American Dream’ a Reality? 36 GONZAGA L. REV. 153 (2000-2001)
  28. Schwemm, Robert G., Introduction to Mortgage Lending Discrimination Law, 28 JOHN MARSHALL L. REV. 317 (1995).
  29. Swire, Peter P., Equality of Opportunity and Investment in Creditworthiness, 143 U. PENN. L. REV. 1533 (1995)
  30. Swire, Peter P., The Persistent Problem of Lending Discrimination: A Law and Economics Analysis, 73 TEX. L. REV. 787 (1995)

C. GOVERNMENT

  1. Bunce, Harold et. al., Subprime Foreclosures the Smoking Gun of Predatory Lending? U.S. Department of Housing and Urban Development (Feb. 2001). Available at: http://www.huduser.org:80/publications/pdf/brd/12Bunce.pdf
  2. Litan, Robert E., Nicolas P. Retsinas, Eric S. Belsky & Susan White Haag, The Community Reinvestment Act After Financial Modernization: A Baseline Report. U.S. Department of Treasury (April 2000). Available at: http://www.treas.gov/press/releases/reports/finalrpt.pdf
  3. National Predatory Lending Task Force, Curbing Predatory Home Mortgage Lending: A Joint Report, U.S. Department of Housing and Urban Development and U.S. Department of Treasury (June 2000). Available at: http://www.hud.gov:80/pressrel/treasrpt.pdf
  4. Scheessele, Randall M. 1998 HMDA Highlights. Housing Finance Working Paper No. 9, Office of Policy Development and Research. U.S. Department of Housing and Urban Development (October 1999). Available at: http://www.huduser.org:80/publications/hsgfin/workpapr9.html
  5. Office of Comptroller of Currency (OCC), Economic Issues in Predatory Lending, Working Paper, July 30, 2003, available at: http://www.mbaa.org/industry/docs/03/occ_workpaper0730.pdf
  6. U.S. General Accounting Office (GAO), Consumer Protection: Federal and State Agencies Face Challenges in Combating Predatory Lending (February 24, 2004) available at http://www.gao.gov/new.items/d04280.pdf.
  7. U.S. Department of Housing and Urban Development (HUD), Unequal Burden: Income and Racial Disparities in Subprime Lending in America (April 2000). Available at: http://www.huduser.org/publications/fairhsg/unequal.html
  8. U.S. Department of Housing and Urban Development (HUD), Unequal Burden in Atlanta: Income and Racial Disparities in Subprime Lending (April 2000). Available at: http://www.huduser.org/publications/fairhsg/unequal.html
  9. U.S. Department of Housing and Urban Development (HUD), Unequal Burden in Los Angeles: Income and Racial Disparities in Subprime Lending (April 2000). Available at: http://www.huduser.org/publications/fairhsg/unequal.html
  10. U.S. Department of Housing and Urban Development (HUD), Unequal Burden in Baltimore: Income and Racial Disparities in Subprime Lending (May 2000). Available at: http://www.huduser.org/publications/fairhsg/unequal.html
  11. U.S. Department of Housing and Urban Development (HUD), Unequal Burden in New York: Income and Racial Disparities in Subprime Lending (May 2000). Available at: http://www.huduser.org/publications/fairhsg/unequal.html
  12. U.S. Department of Housing and Urban Development (HUD), Unequal Burden in Chicago: Income and Racial Disparities in Subprime Lending (May 2000). Available at: http://www.huduser.org/publications/fairhsg/unequal.html
  13. U.S. Department of Housing and Urban Development (HUD), Redlining and Disinvestment as a Discriminatory Practice in Residential Mortgage Lending (1977).

*Based on a bibliography prepared by Alan White, Esq., Community Legal Services

Last updated February 2004

Research and Reports Relating to High-Cost Non-Mortgage Lending

PAYDAY LENDING

I. Consumer Reports

A. Jean Ann Fox, The Growth of Legal Loan Sharking: A Report on the Payday Loan Industry, Consumer Federation of America, November 1998.

B. Jean Ann Fox, Safe Harbor for Usury: Recent Developments in Payday Lending, Consumer Federation of America, September 1999.

C. Jean Ann Fox & Edmund Mierzwinski, Show me the Money! A Survey of Payday Lenders and Review of Payday Lender Lobbying in State Legislatures, U.S. PIRG and Consumer Federation of America, February 2000.

D. Marti Wiles & Daniel Immergluck, Unregulated Payday Lending Pulls Vulnerable Consumers into Spiraling Debt, Woodstock Institute, March 2000.

E. Jean Ann Fox & Edmund Mierzwinski, Rent-a-Bank Payday Lending: How Banks Help Payday Lenders Evade State Consumer Protections, Consumer Federation of America and U.S. PIRG, November 2001, available at www.consumerfed.org/backpage/payday.html.

F. Marva Williams, Affordable Alternatives To Payday Loans: Examples From Community Development Credit Unions, Woodstock Institute, March 2001.

H. Michael Hudson, Predatory Financial Practices: How Can Consumers Be Protected?, AARP, Winter 1998.

I. David Dante Troutt, The Thin Red Line: How the Poor Still Pay More, Consumers Union, June 1993.

J. Tim Morstad, Sale Leaseback Lenders Defy Regulation, Consumers Union, Feb. 2001.

K. Ray Prushnok, Payday Mayday! Payday and Title Lender Compliance to Signage and Brochure Regulations, NMPIRG Education Fund (March 2002).

L. Peter Skillern, How Payday Lenders Make Their Money, Community Reinvestment Association of North Carolina (April 18, 2001).

M. Peter Skillern, Small Loans, Big Bucks: An Analysis of the Payday Lending Industry in North Carolina, Community Reinvestment Association of North Carolina (2002).

N. Southwest Center for Economic Integrity, Payday Lending in Pima County Arizona (December 2003).

II. Government Reports

A. Indiana Department of Financial Institutions, Summary of Payday Lender Examinations Conducted from 7/99 thru 10/99.

B. State of Colorado, Department of Law 2000 Post-Dated Check Cashers Supervised Lenders? Annual Report.

C. State of Illinois Department of Financial Institutions Study Conducted in 1999.

D. State of Tennessee Department of Financial Institutions, Report to the 101st General Assembly on the Deferred Presentment Services Act, 1999.

E. Survey of Banking: Payday Loan Survey, Iowa Division of Division of Banking, December 2000.

F. North Carolina Report to the General Assembly on Payday Lending, Office of the Commissioner of Banks, North Carolina, February 2001.

G. Review of Payday Lending in Wisconsin 2001, Wisconsin Department of Financial Institutions, June 2001.

H. Sherrie L.W. Rhine, Maude Toussaint-Comeau, Jeanne M. Hogarth, & William H. Greene, The Role of Alternative Financial Service Providers in Serving LMI Neighborhoods, Federal Reserve Board (March 2001).

III. Industry

A. Gregory Elliehausen & Edward C. Lawrence, Payday Advance Credit in America: An Analysis of Customer Demand, Credit Research Center, April 2001.

B. IO Data Corp., Utah Consumer Lending Association: Utah Customer Study, July 2001.

IV. Academic

A. Michael A. Stegman & Robert Faris, Payday Lending: A Business Model that Encourages Chronic Borrowing, ____The Economic Dev. Quarterly ____ (Jan. 2002), available at www.ccc.unc.edu.

B. Michael A. Stedman & Robert Faris, Welfare, Work, and Banking: The North Carolina Financial Services Survey (Oct. 2001), available at www.ccc.inc.edu.

C. Creola Johnson, Payday Loans: Shrewd Business or Predatory Lending? (2002)(this paper is not available for general circulation at this time).

E. John P. Caskey, Beyond Cash-and-Carry: Financial Savings, Financial Services, and Low Income Households in Two Communities, Consumer Federation of America and the Ford Foundation, December 1997.

F. John P. Caskey, The Economics of Payday Lending, Filene Research Institute (2002).

G. John P. Caskey, Lower Income Americans, Higher Cost Financial Services, Filene Research Institute and the Center for Credit Union Research , 1997.

H. Gregory D. Squires & Sally O’Connor, Fringe Banking in Milwaukee: The Rise of Check Cashing Businesses and the Emergence of a Two-Tiered Banking System, 1998.

I. Compendium of articles: Combating the Loan Shark, 8 Law and Contemporary Problems 1 (Winter 1941).

REFUND ANTICIPATION LOANS

I. Consumer Reports

A. Chi Chi Wu, Jean Ann Fox, Elizabeth Renuart, Tax Preparers Peddle High Cost Tax Refund Loans: Millions Skimmed from the Working Poor and the U.S. Treasury, National Consumer Law Center & Consumer Federation of America (Jan. 31, 2002) >>>

II. Other Reports

A. Alan Berube, Anne Kin, Benjamin Forman, Megan Burns, The Price of Paying Taxes: How Tax Preparation and Refund Loan Fees Erode the Benefits of the EITC, The Brookings Institute, Center on Urban & Metropolitan Policy (May 2002).

B. Joan K. Lewis, Roger Swagler, John Burton, Refund Anticipation Loans and the Consumer Interest: A Preliminary Investigation, 42 Consumer Interests Annual 167 (1996).

RENT-TO-OWN

I. Government Reports

A. James M. Lacko, Signe-Mary McKernan, & Manoj Hastak, Survey of Rent-to-Own Customers, Federal Trade Commission (April 2000), available at www.ftc.gov/reports/index.htm.

B. FDIC, Evaluating the Consumer Lending Revolution, September 2003, available at http://www.fdic.gov/bank/analytical/fyi/2003/091703fyi.html.

II. Consumer Reports

A. David Ramp, Renting-To-Own in the United States, 24 Clearinghouse Rev. 797 (Dec. 1990).

III. Academic Articles

A. Susan Lorde Martin & Nancy White Hutchins, Consumer Advocates v. The Rent-to-Own Industry: Reaching a Reasonable Accommodation, 34 American Bus. L.J. 385 (1997).

IV. Industry Reports

A. Warren B. Rudman, Market Survey Results and Economic Analysis (Feb. 1994)(Report to the Board of Directors of Thorn EMI PLC concerning the operations of the Rent-A-Center Division of Thorn Americas Inc.).

CREDIT CARDS**

  1. FRB 1977 Consumer Credit Survey.
  2. Evans, David and Richard Schmalensee, Paying with Plastic: The Digital Revolution in Buying and Borrowing (MIT Press, 1999)
  3. Nocera, Joseph, A Piece of the Action: How the Middle Class Joined the Money Class (Simon and Schuster, 1994)
  4. Ausubel, Lawrence, The Failure of Competition in the Credit Card Market, American Economic Review 81(1), March 1991, pp. 50-81.
  5. Chakravorti, Sujit and William R. Emmons, Who Pays for Credit Cards?, Emerging Payments Occasional Paper Series, Federal Reserve Bank of Chicago February 2001 (EPS-2001-1)
  6. Furletti, Mark, Credit Card Pricing Developments and Their Disclosure, Discussion Paper: Payment Cards Center, Federal Reserve Bank of Philadelphia, (January 2003):
  7. Knittel, Christopher R. and Victor Stango, Price Ceilings as Focal Points for Tacit Collusion: Evidence from Credit Cards, Federal Reserve Bank of Chicago (December 10, 2001)
  8. Shaffer, Sherrill, The Competitive Impact of Disclosure Requirements in the Credit Card Industry, Journal of Regulatory Economics 15(2), March 1999, 183-98.
  9. Stango, Victor, Strategic Responses to Regulatory Threat in the Credit Card Market, Working Paper, WP 2002-02, Federal Reserve Bank of Chicago, (February, 2002).
  10. Federal Reserve Board’s Annual Reports, The Profitability of Credit Card Operations of Depository Institutions. Most recent: June 2002
  11. Durkin, Thomas A., Credit Cards: Use and Consumer Attitudes, 1970 - 2000, Federal Reserve Bulletin, pp. 623 - 634 (September 2000)
  12. Durkin, Thomas A., Consumers and Credit Disclosures: Credit Cards and Credit Insurance, Federal Reserve Bulletin, pp. 201 - 213 (April 2002).
  13. Hayhoe, Celia Ray, Lauren J. Leach, Pamela R. Turner, Marilyn J. Bruin, and Frances C. Lawrence, Differences in Spending Habits and Credit Use of College Students, Journal of Consumer Affairs, 34(1), Summer 2000, pp. 113 -133.
  14. GAO Report, Consumer Finance: College Students and Credit Cards, (June 2001), GAO-01-773.
  15. Manning, Robert D., Credit Cards on Campus: Costs and Consequences of Student Debt, Consumer Federation of America (June, 1999). ($15 )
  16. Staten, Michael E. and John M. Barron, College Student Credit Card Usage, Credit Research Center Working Paper # 65 (June 2002) (industry paper)
  17. Ausubel, Lawrence M., Credit Card Defaults, Credit Card Profits, and Bankruptcy, 71 Am. Bankr. L. J. 249 (1997)
  18. Stavins, Joanna, Credit Card Borrowing, Delinquency, and Personal Bankruptcy, New England Economic Review, (July/August 2000).
  19. Warren, Elizabeth, The Bankruptcy Crisis, 73 Indiana L. J. 1079 (1998).
  20. Demos, Borrowing to Make Ends Meet: The Growth of Credit Card Debt in the 90’s (2003)

PAWNBROKERS

A. John P. Caskey, Fringe Banking: Check Cashing Outlets, Pawnshops, and the Poor, Russell Sage Foundation (1994).

B. Corinna Nicolaou, Our Neighborhood Banks: High Cost Loans for Low Income Borrowers, Consumers Union, July 1997.

OTHER

A. Peterson, Chris, Failed Markets, Failing Government, or Both? Learning from the Unintended Consequences of Utah Consumer Credit Law on Vulnerable Debtors, 2001 Utah Law Review 543 (2001).

Winnipeg Inner-City Research Alliance, The Rise of Fringe Financial Services In Winnipeg’s North End: Client Experiences, Firm Legitimacy and Community-based Alternatives. Available at http://io.uwinnipeg.ca/~ius/wira/Whats_New/whats_new.htm

**Based on a bibliography prepared by Kathleen Keest

 

 
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