Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 7 of 7
Full-Text Articles in Race and Ethnicity
Ameriquest Mortgage Activity In Milwaukee County, John Pawasarat
Ameriquest Mortgage Activity In Milwaukee County, John Pawasarat
ETI Publications
The analysis of mortgage lending practices, evictions and foreclosures in Milwaukee County conducted by the Employment and Training Institute for Legal Action of Wisconsin showed Ameriquest Mortgage Company as one of the major subprime lenders operating in Milwaukee County. As part of an agreement signed with 49 states, including Wisconsin, Ameriquest is providing settlement payments for many of those who borrowed from the company from 1999 through 2005. The data showed Ameriquest with the largest volume of loan applications and second largest volume of approved loans, of the 92 subprime lenders issuing mortgages in Milwaukee County from 2003 through 2005. …
Legal Action Of Wisconsin Report On Milwaukee's Housing Crisis, Foreclosure, Evictions, And Subprime Lending, John Pawasarat, Lois M. Quinn
Legal Action Of Wisconsin Report On Milwaukee's Housing Crisis, Foreclosure, Evictions, And Subprime Lending, John Pawasarat, Lois M. Quinn
ETI Publications
his report was prepared by the Employment and Training Institute for Legal Action of Wisconsin to identify low-income populations in Milwaukee County with legal needs related to evictions, foreclosures, and mortgage lending practices. The number of foreclosure cases filed with the Milwaukee County circuit courts has risen to all-time highs, directly tied to increased mortgage lending activity for low-income households. Foreclosure cases reaching the Milwaukee County Sheriff’s Office for auction sales have also shown dramatic increases and in the last five years averaged 143 per month, peaking at an all-time high of 229 in January 2007. Eviction cases filed with …
Milwaukee's Housing Crisis: Housing Affordability And Mortgage Lending Practices, John Pawasarat, Lois M. Quinn
Milwaukee's Housing Crisis: Housing Affordability And Mortgage Lending Practices, John Pawasarat, Lois M. Quinn
ETI Publications
This report examines the recently released 2006 Home Mortgage Disclosure Act data and new 2006 American Community Survey (ACS) census data as part of a series of research papers supported by Legal Action of Wisconsin to assess the impact of the national housing crisis on low-income homeowners and renters in Milwaukee County. The ACS data suggest that the impacts of the unregulated housing loans and resultant housing price increases and property tax assessment (and tax bill) increases, coupled with utility rate hikes and relatively flat incomes have dramatically altered the affordability of housing in urban areas, particularly for Midwest cities …
Report On Mortgage Lending Practices In Milwaukee County: Part Two, John Pawasarat, Lois M. Quinn
Report On Mortgage Lending Practices In Milwaukee County: Part Two, John Pawasarat, Lois M. Quinn
ETI Publications
This analysis prepared for Legal Action of Wisconsin as part of its examination of housing issues facing low-income residents identifies refinancing loans, subprime lending and other mortgage practices affecting employed and retired families in Milwaukee County. The report examines 420,633 mortgage loans issued in Milwaukee County, including 49,180 loans issued by subprime lenders, for the period from 1993 through 2001 and 2003 through 2005, using the last available Home Mortgage Disclosure Act (HMDA) data files. Of particular concern are refinancing loans where home owners take out new mortgages to obtain cash for credit card and other debt obligations. Central city …
Update On The Housing Crisis In Zip Code 53206, John Pawasarat, Lois M. Quinn
Update On The Housing Crisis In Zip Code 53206, John Pawasarat, Lois M. Quinn
ETI Publications
The housing crisis appears to be unabated in pockets of Milwaukee’s central city neighborhoods, based on Home Mortgage Disclosure Act data collected federally from lending institutions. A 13-year analysis of mortgage lending in zipcode 53206, one of Milwaukee’s poorest central city neighborhoods, showed continued borrowing and reliance on subprime and high-interest cost loans. In 2006 mortgage borrowing activity continued to rise in zipcode 53206 in contrast to an overall slowdown in the county. The vast majority (85%) of housing loans to owner-occupants in zipcode 53206 were made to single purchasers rather than 2-person co-signers. These trends are consistent with concerns …
Neighborhood Indicators Of Employment And Economic Family Well-Being For Zipcode 53206: Executive Summary, John Pawasarat, Lois M. Quinn
Neighborhood Indicators Of Employment And Economic Family Well-Being For Zipcode 53206: Executive Summary, John Pawasarat, Lois M. Quinn
ETI Publications
The 53206 zipcode neighborhood serves as a bellwether for poverty changes in Milwaukee and nationally. In the 1990s prior to welfare reform in Wisconsin it had the largest number of families receiving AFDC. In the 2000 Census it showed the largest number of families in poverty among Milwaukee zipcodes. The 2007 neighborhood indicator analyses showed substantial movement in a negative direction, particularly in the last 4-5 years as the number of men incarcerated from and released to these neighborhoods has risen dramatically and residents have been targeted by subprime lenders for refinancing mortgages. Assets were identified, including the relatively high …
New Indicators Of Neighborhood Need In Milwaukee Zipcode 53206, Lois M. Quinn
New Indicators Of Neighborhood Need In Milwaukee Zipcode 53206, Lois M. Quinn
ETI Publications
Milwaukee Neighborhood Indicators Reports were initially developed by the Employment and Training Institute with funding from the Greater Milwaukee Foundation and the City of Milwaukee to provide independent, timely and ongoing assessment tools to measure short-term and long-term progress toward improving economic and employment well-being of families in central city Milwaukee neighborhoods. Indicators track changes by neighborhood since 1993, prior to the beginning of state and federal welfare reform. The 53206 ZIP code neighborhood serves as a bellwether for poverty changes in Milwaukee and nationally. In the 1990s prior to welfare reform in Wisconsin it had the largest number of …