The New York Foundation looks to connect its grantees and other nonprofit organizations in New York City with resources useful in achieving our common goals. With our Knowledge Center we collect reports, case studies, policy briefs, and other knowledge assets produced by New York Foundation grantees and affiliated organizations. While some of these works were funded by the Foundation, our goal in providing this collection is to put a spotlight on the contributions that Foundation grantees have made to social issue analysis and problem solving.
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Paying More for the American Dream VI: Racial Disparities in FHA/VA Lending

July 19, 2012

This report examines systemic inequities in the mortgage market, as reflected in neighborhood lending patterns based on race and ethnicity. The authors analyzed 2010 Home Mortgage Disclosure Act (HMDA) data, and compared conventional and government-backed prime mortgage lending in seven U.S. cities, based on borrowers' race and ethnicity and the racial and ethnic composition of neighborhoods.The report shows that black and Latino borrowers and borrowers in communities of color received government-backed loans -- insured by the Federal Housing Administration (FHA) or guaranteed by the Department of Veterans Affairs (VA) -- significantly more often than did white borrowers. The findings indicate persistent mortgage redlining and raise serious concerns about illegal and discriminatory loan steering.

Foreclosures in New York: What's Really Going On

January 1, 2012

Four years into the mortgage meltdown, the home foreclosure crisis in New York State continues unabated, particularly in low income neighborhoods and communities of color. Recent reports on foreclosures in New York cite a decline in foreclosure actions filed in New York courts. These reports, however, fail to include key information needed to understand the true foreclosure picture and formulate effective public policy. According to NEDAP's analysis of new mortgage default and delinquency data, foreclosure risk remains disturbingly high in New York. NEDAP found that more than 345,000 mortgages were in default or delinquent in New York State, in 2011. This staggering number -- based on 90-day preforeclosure notices that New York now requires servicers to send to homeowners -- indicates severe mortgage distress and risk of foreclosure and destabilization for huge numbers of families and communities throughout the state.The number of foreclosure actions (lis pendens) filed against New York homeowners has indeed dropped, notwithstanding the extremely high number of mortgage defaults and delinquencies. The decline in foreclosure filings, however, is largely attributable to banks' inability to produce documentation required to initiate foreclosure cases, as New York courts heighten their scrutiny of banks' foreclosure filings. NEDAP found that 90-day pre-foreclosure notices in New York City, for example, outnumbered foreclosure actions filed in New York courts 14 to 1.

Debt Deception: How Debt Buyers Abuse the Legal System to Prey on Lower-Income New Yorkers

May 1, 2010

In this report, we examine lawsuits filed by debt buyers and their profound impact on low- and moderate-income New Yorkers, lower-income communities, and communities of color. We begin, in Part I, with background on the debt buying industry, including an analysis of the debt buyer business model and collection methods. Part II focuses on debt buyer lawsuits, particularly the systemic problems at the root of these lawsuits. In Part III, we highlight specific findings from a study of debt buyer lawsuits in New York City. We draw results from two data sets: (1) a 365-case sample of lawsuits brought by the 26 debt buyers who filed the greatest number of cases in New York City between January 2006 and July 2008 ("Court Sample"); and (2) a 451-case sample of callers to NEDAP's legal hotline who were sued by a creditor or debt buyer in 2008 ("Client Sample"). Finally, in Part IV, we recommend policy and legislative reforms to address the problems documented in this report

Ensuring Access to Fair and Affordable Financial Services: A survey report on barriers faced by low-income immigrants in NYC

February 1, 2009

Access to fair and affordable financial services is a critical economic justice issue facing immigrant New Yorkers -- across income, language and cultural groups. Despite NYC's sizable immigrant population -- nearly 40% of New Yorkers, or close to three million people, are foreign-born -- and despite New York's status as the nation's banking capital, NYC banks are conspicuously not at the national forefront in providing services to immigrants.In 2006, the Network designed and implemented a city-wide Immigrant Banking Survey to increase understanding about immigrant New Yorkers' financial services experiences and needs. The survey gathered information about immigrants' access to bank accounts, as well as their use of credit and methods of sending remittances to their home countries. The Network survey team interviewed approximately 600 immigrant New Yorkers between August 2006 and January 2007. Surveys were gathered at community fairs, workshops, schools, churches, food pantries and other locations, as well as through on-the-street interviews. All surveys were conducted verbally by trained staff and volunteers, in respondents' native languages or a language in which they were proficient. Survey results did not differ significantly between randomly interviewed community members and constituents of nonprofit organizations. Findings presented in this report are based on 546 valid surveys completed by immigrants from 74 countries. Findings may be applied to the NYC immigrant population as a whole. The size and diversity of the sample, however, does not allow us to make generalized comparisons among all nationalities.NEDAP released a preliminary summary of survey findings in 2007. This report provides more detailed findings and includes recommendations for expanding equitable financial services access in immigrant communities.

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