In their recently published Housing Policy Debate article, co-authors Stephen Ross and Marsha Courchane present an overview of the research on discrimination in mortgage underwriting and pricing, the experiences of minority borrowers both prior to and during the financial crisis, and federal efforts to mitigate foreclosures during the crisis. They discuss the history of legal cases alleging disparate treatment of minority borrowers, and recent cases alleging disparate impact in the wake of the Supreme Court’s Inclusive Communities decision. Using these discussions as a background, Ross and Courchane examine and discuss mortgage regulations issued by the Consumer Financial Protection Bureau following the financial crisis, describe recent developments in the FinTech industry and explore the implications for fair lending policy and minority borrowers more generally. The authors draw conclusions and make recommendations for improving the mortgage market outcomes of minority borrowers and increasing minority borrowers’ access to credit.
Building on the strengths of its affiliates and partners, the Center for Financial Security at the University of Wisconsin–Madison has been awarded a five-year cooperative agreement with the Social Security Administration’s Retirement and Disability Research Consortium.
“This award from SSA is a recognition of UW–Madison’s extensive research and outstanding scholars in the field of aging and disability,” says UW–Madison Chancellor Rebecca Blank.
The multidisciplinary center, housed in the School of Human Ecology, received the award along with three other RDRC centers at Boston College, the National Bureau of Economic Research, and the University of Michigan.
The Alliance for the American Dream is a new community-university collaboration funded by Schmidt Futures that aims to promote shared prosperity and increase American competitiveness. The University of Wisconsin–Madison (UW) is one of four public universities chosen by Schmidt Futures to partner in this work.
Four La Follette School faculty members have received funding from the Herb Kohl Public Service Research Competition’s third round of awards. The Kohl Competition supports nonpartisan research that informs critical public policy and governance debates and advances evidence-based decision-making.