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.
Today, Councilwoman and Majority Leader Cherelle L. Parker (9th District), along with Dr. Ira Goldstein, President of Policy Solutions at Reinvestment Fund, and all the members of the Philadelphia Home Appraisal Bias Task Force, issued its Final Report and Recommendations.
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