Center for Public Integrity — A housing scam alleged by Brooklyn Legal Services uses a map produced by New Economy Project to illustrate the concentration of suspicious property transactions in communities of color.
City & State NY — Carmen Vega-Rivera jokes that she’s spent so much time in Bronx Housing Court that she sometimes checks to see if her portrait has been put up on the walls.
New Economy Project presses NYC Community Investment Advisory Board to collect and make public data on a wide range of banks’ activities, as banks have a very poor track record of serving New York City communities, particularly communities of color.
In 2008, at the peak of the foreclosure crisis, New Economy Project launched a foreclosure prevention loan fund that over the next five years helped almost 400 low-income New Yorkers avert foreclosure and keep their homes.
New Economy Project and 24 members of New Yorkers for Responsible Lending urge the New York State Department of Financial Services to adopt strong rules addressing pervasive force-placed insurance abuses.
New Economy Project and members of New Yorkers for Responsible Lending submit letter in opposition to FHFA plan, which would raise mortgage guarantee fees in NYS and other states with strong consumer protections.
New York Post — Manhattan’s residential real-estate scene is roaring back — but don’t look across the river. The shadow of the foreclosure crisis is fading fast in tony enclaves like the Upper East Side, where home prices spiked 36 percent in the first quarter.
Maps show stark inequities in mortgage lending based on race, as banks continue to deny fair access to conventional mortgages in black and Latino neighborhoods.
Wall Street Journal: Market Watch — The government wants J.P. Morgan Chase & Co., chastened by this week’s record-breaking settlement with the Justice Department, to focus on helping borrowers and neighborhoods that are struggling the most.
Wall Street Journal — More than a year after five large banks agreed to pay $25 billion and improve their foreclosure practices, the lenders are facing fresh criticism for failing to live up to their end of the bargain.