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Supporting Pennsylvania’s Homeowners


Five Years of Foreclosure Diversion

Reinvestment Fund’s Ira Goldstein presented data on the 5-year accomplishments of Philadelphia’s Residential Mortgage Foreclosure Diversion Program at the anniversary celebration on June 12, 2013. Richard Cordray, Director of the Consumer Financial Protection Bureau, headlined the event alongside a homeowner in foreclosure whose home was saved by the program. The event was attended by several hundred people and was covered by numerous media outlets including ABC News and


What if Pennsylvania Had Not Had HEMAP?

Reinvestment Fund analyzed Pennsylvania’s Homeowner’s Emergency Mortgage Assistance Program (HEMAP) with support from the William Penn Foundation. The summary findings include that from 2008 to 2010, HEMAP saved more than 6,100 Pennsylvania homeowners from foreclosure. The number of homes saved from foreclosure by HEMAP amounted to between 4.6% and 5.1% of the total inventory of homes in foreclosure. The report also found that the program averted a combined $480 million in financial impact of foreclosures.


Philadelphia Residential Mortgage Foreclosure Diversion Program: Initial Report of Findings

With grants from the Open Society Institute and the William Penn Foundation, Reinvestment Fund assessed the outcomes and impacts of the Philadelphia Residential Mortgage Foreclosure Diversion Program. As part of the study, we reviewed Court Orders on nearly 16,000 cases handled by the Diversion Program from inception through March of 2011 and conducted interviews with homeowners as well as experts.


Methods for Studying Residential Foreclosure Diversion Processes

Courts and advocates across the country have dedicated significant resources to the development of diversion/mediation processes designed to facilitate homeowner participation in the foreclosure process. With funding from the Open Society Institute and the William Penn Foundation, Reinvestment Fund has sought to help answer the question: what is the effect of this work – does mediation make a difference? This paper was shared during an interactive webinar hosted by the National Consumer Law Center (NCLC).


Maximizing the Impact of Federal NSP Investments through the Strategic Use of Local Market Data

Chapter by Reinvestment Fund’s Ira Goldstein for the book REO & Vacant Properties: Strategies for Neighborhood Stabilization, a joint publication of the Federal Reserve Banks of Boston and Cleveland and the Federal Reserve Board. Dr. Goldstein’s chapter discusses using the MVA as a means to strategize the targeting of resources under the federal Neighborhood Stabilization Program.


Mortgage Lending and Foreclosure: A Local and National Overview

Presentation by Reinvestment Fund’s Ira Goldstein as part of Picking Up the Pieces: Partnering with Faith-based Organizations to Respond to the Housing Crisis presented to the Homeownership Counseling Association of Delaware Valley, the Philadelphia Association of Community Development Corporation, and the Philadelphia Mayor’s Office of Faith-Based Initiatives.


Using Data and GIS to Target Neighborhood Stabilization Dollars

Reinvestment Fund helped DCED develop its NSP plans by devising a data-driven method for prioritizing where funds should be spent within each county to increase the likelihood of market stability. This presentation shows how to use this in-depth analysis as well as the host of GIS data in to better understand foreclosure and market dynamics. Presented at the 2009 PA Chapter of American Planning Association Annual Conference, “Investing in a Sustainable Future” by Ira Goldstein and Elizabeth Nash.


Impacts of Changes in the Home Mortgage Market on Hispanic Homeowners in Pennsylvania and Delaware

Commissioned by the Federal Home Loan Bank of Pittsburgh (FHLB) and the Pennsylvania Housing Finance Agency, Reinvestment Fund studied the impact of changes in the housing and mortgage markets on Hispanics in Pennsylvania and Delaware. The analysis focuses in Berks, Lancaster, Lehigh, Northampton and Philadelphia counties in Pennsylvania and New Castle County in Delaware. Together these counties are home to more than 60% of the Hispanics in the region.  Also included in this study was a review of the available housing counseling resources, and counseling specifically available to those persons for whom Spanish is their primarily language. Reinvestment Fund’s research partner on this project is the National Council of La Raza.


Protecting and Restoring Neighborhoods in Today’s Changing Environment; Setting the Stage

Presentation shared at the Wachovia Regional Foundation Grantee Conference. The presentation, given by Ira Goldstein, compares today’s economic environment to past years, highlighting unemployment rates, personal income, and median home purchase mortgage amounts.


Saving Homes – Saving Neighborhoods: Philadelphia’s Data-Based Approach to Stabilizing Neighborhoods Threatened by Foreclosure

Presentation by Ira Goldstein at the National Governor’s Association Center for Best Practices Summit on Foreclosures and Housing Solutions.


Subprime Lending, Mortgage Foreclosures and Race: How far have we come and how far have we to go?

Paper commissioned by Ohio State University’s Kirwan Institute for the Study of Race and Ethnicity that explores the civil rights aspect of foreclosures. The paper draws from Reinvestment Fund’s work in Philadelphia and Baltimore, and looks at the role deregulation and the lack of federal law enforcement played in creating the subprime lending and mortgage foreclosure crisis.


Subprime Mortgage Lending in the District of Columbia

An increase in the delinquency rate for all mortgages in the District of Columbia over 2007 have resulted in more home foreclosures. Foreclosures can have a negative imact on neighborhoods and the entire city. This study offers an overview of subprime lending; a look at subprime lending in DC; and recommendations for how DC can help current and future borrowers. The study was conducted for the Department of Insurance, Securities and Banking.


Mortgage Foreclosure Filings in New Jersey

Study of mortgage foreclosures in New Jersey for the New Jersey Department of Community Affairs and the Ford Foundation. Our singular purpose was to add a measure of systematic and objective data analysis to the mortgage foreclosure problem facing New Jersey. As is often the case, by the time the study is complete, the problem is not what it was when the study began. That is uniquely true in this instance. The overall magnitude of the mortgage foreclosure problem, nationally and in New Jersey, has increased substantially over the last 18 months.


Lost Values: A Study of Predatory Lending in Philadelphia

Detailed local case study of predatory lending that includes the analysis of complete mortgage and sale histories for 15,500 properties in the city of Philadelphia from 2000 to 2003 as well as interviews with a broad range of subject experts.


Mortgage Foreclosures in Baltimore, Maryland

Funded by the Goldseker Foundation, this study looks at mortgage foreclosures in Baltimore, Maryland. The study looks at mortgage foreclosures over a five year period, describing causes and patterns that have emerged.


Mortgage Foreclosure Filings in Delaware

Study of mortgage foreclosure filings in Delaware for the State Bank Commissioner. The study provides a detailed analysis of trends, with an in-depth look at Kent, New Castle and Sussex counties in particular.


Mortgage Foreclosure Filings in Pennsylvania

In-depth study of mortgage foreclosure filings in Pennsylvania. The study was conducted for the Pennsylvania Department of Banking, expanding on Reinvestment Fund’s analysis from 2004 of the foreclosure epidemic in the Poconos’ Monroe County.


NRLP: Assessing Impact

Case study that examines the social and economic impacts of rental housing developed in a section of West Philadelphia by Neighborhood Restorations (NRLP), Reinvestment Fund’s largest affordable housing borrower.


A Study of Mortgage Foreclosure Activity in Monroe County, Pennsylvania 2000-2003

Reinvestment Fund’s thorough analysis of foreclosures in Monroe County, PA’s second fastest growing county, provides the facts for State action on the crisis.