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Reports

    • April 2011:  The report documents the sharp decline in conventional refinance lending in communities of color between 2008 and 2009, in NYC and six other major metropolitan areas across the U.S.  During this time, lenders substantially increased conventional refinance lending in predominantly white neighborhoods. The report - which NEDAP authored with California Reinvestment Coalition, Ohio Fair Lending Coalition, Community Reinvestment Association of North Carolina, Massachusetts Affordable Housing Alliance, Empire Justice Center, and Woodstock Institute - is the fifth in a series analyzing systemic inequalities in the mortgage market and housing finance system.
    • May 2010:  NEDAP released a joint report documenting the precipitous decline of prime refinance lending in communities of color between 2006 and 2008. This report, released with California Reinvestment Coalition, Ohio Fair Lending Coalition, Community Reinvestment Association of North Carolina, Massachusetts Affordable Housing Alliance, Empire Justice Center, and Woodstock Institute, is the fourth in a series analyzing Home Mortgage Disclosure Act data.
     
  • Mortgage Lending and Foreclosures in Immigrant Communities
    • February 2010: This report explores how the foreclosure crisis has affected immigrant communities, with a focus on NYC as a case example.  It describes barriers that immigrants face to securing housing and loans on fair terms, and identifies specific abusive practices for which undocumented and low income immigrants were targeted.  Commissioned by the Kirwan Institute for its Future of Fair Credit and Fair Housing initiative, the paper concludes with recommendations to combat lending discrimination and expand fair housing opportunity moving forward.
     
  • 2010 Annual Report -- Rapid Rip-Offs: Tax Refund Anticipation Lending in NYC
    • January 2010:  Tax refund anticipation loans drained $54.7 million from New York's working poor families, according to NEDAP's analysis of recently-released IRS data for tax filing year 2007.  RALs carry annual percentage rates typically between 50% and 500%, and though the report shows that the total number of RALs decreased in 2007, the loans remained overwhelmingly concentrated in the City's lowest income neighborhoods.  The report details the neighborhoods hardest hit, and includes maps showing the millions of dollars in fees that RALs extract from NYC neighborhoods of color.
     
  • Paying More for the American Dream: Promoting Responsible Lending to Lower-Income Communities and Communities of Color
    • April 2009:  NEDAP, along with California Reinvestment Coalition, Ohio Fair Lending Coalition, Community Reinvestment Association of North Carolina, Massachusetts Affordable Housing Alliance, Empire Justice Center, and Woodstock Institute, released a joint report on the critical role that the Community Reinvestment Act plays in promoting affordable mortgage lending to lower-income borrowers and communities in NYC and nationally.  This report is the third in a series of reports analyzing Home Mortgage Disclosure Act data.

 

    • March 2008:  NEDAP, along with California Reinvestment Coalition, Ohio Fair Lending Coalition, Community Reinvestment Association of North Carolina, Massachusetts Affordable Housing Alliance, Empire Justice Center, and Woodstock Institute, released a joint report examining the lending practices of a subset of subprime lenders.  This report is the second in a series of reports analyzing Home Mortgage Disclosure Act data.

 

    • March 2007:  An analysis of 2005 Home Mortgage Disclosure Act data, the study shows significant disparities in the pricing of home purchase loans based on race, in New York City.  The report shows that African Americans and Latinos remain significantly more likely to pay higher interest rates on home purchase loans than whites. The report shows similar patterns in five other metropolitan areas across the country:  Chicago, Los Angeles, Boston, Charlotte, NC, and Rochester, NY.  NEDAP issued the report in collaboration with the California Reinvestment Coalition, Community Reinvestment Association of North Carolina, Empire Justice Center, Massachusetts Affordable Housing Alliance, and the Woodstock Institute.

 

    • January 2007: Using IRS data on RALs, NEDAP documents in this report how RALs extracted approximately $324 million from low income New Yorkers and communities of color, in the four-year period, from 2002 through 2005.   Click here for a list of organizations that offer free tax prep services in NYC.

 

    • August 2006: A conference report on how NYC immigrant communities are eliminating barriers to financial justice and pressing for accountability from banks, money transmitters and other institutions.

      

  • Rapid Rip-Offs: Tax Refund Anticipation Lending in NYC
    • March 2006: Tax time has become a season for gouging the working poor, through so-called tax refund anticipation loans (“RALs”), a usurious product that siphons millions of dollars from the poorest New York families and neighborhoods each year.  Banks, including HSBC, one of the world’s largest financial institutions, make these loans through the hundreds of tax prep sites that serve as their brokers, reaping lucrative profits by taking a bite out of people’s tax refunds and credits.  RALs providers target low-income taxpayers and communities for these under-regulated loans.  This report highlights the impact of RALs on low-income New Yorkers and the neighborhoods in which they live.  New Yorkers lost more than $92 million of their tax refunds and credits through RALs, in 2004.
      • MAP: Percent of tax filings with a RAL, by NYC Neighborhood, 2004
      • MAP: Money drained by RALs, by NYC neighborhood, 2004
       
  • East Harlem Community Banking Study
    • February 2006: Prepared for Union Settlement Federal Credit Union, this report describes community demographics and summarizes findings from a financial services survey conducted by NEDAP in East Harlem, NY.  The report also includes a map of financial institutions in East Harlem.
  • Mortgage Lending and Foreclosures in Three New York City Neighborhoods: Bedford-Stuyvesant, Brooklyn; Cypress Hills, Brooklyn; Jamaica, Queens
    • Executive Summary, 2002: NEDAP conducted research and GIS mapping to create a baseline assessment of mortgage lending and foreclosures in three NYC communities, for the New York Mortgage Coalition's Homeownership Stabilization Initiative (HOSI). NEDAP analyzed and prepared maps illustrating Home Mortgage Disclosure Act and foreclosure patterns in relation to neighborhood demographics, including race, income, and housing composition.   This summary serves as a narrative guide to maps and charts that follow; it is not intended as a comprehensive report or detailed analysis of neighborhood lending.

 

 
 
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