Establishing a Link Among Subprime Lending, Payday Lending, and Housing Costs

References

• Apgar, W. C., Jr., & Herbert, C. E. (2006). Subprime lending and alternative financial service providers: A literature review and empirical analysis. Report for the U.S. Department of Housing and Urban Development Office of Policy Development and Research. Retrieved March 15, 2007, from www.huduser. org/publications/hsgfin/sublending.html
   Google Scholar
• Associated Press. (2007, September 12). Home values rising quicker than incomes. The Herald Journal, p. A2.
   Google Scholar
• Association of Community Organizations for Reform Now. (2002). Separate and unequal 2002: Predatory lending in America. Philadelphia, PA: Association of Community Organizations for Reform Now.
   Google Scholar
• Association of Community Organizations for Reform Now. (2005). Survey of payday users in Toronto and Vancouver. Retrieved July, 2007, from http:// acom.org/fileadmin/Intemational/Canada/Reportsstratcomm_payday_report. pdf
   Google Scholar
• Avery, R. B., Beeson, P. E., & Sniderman, M. S. (1999). Neighborhood information and home mortgage lending. Journal of Urban Economics, 45(2), 287-310.
   Google Scholar
• Blair, S. (2005). Low cost payday loans: Opportunities and obstacles. Annie E. Casey Foundation. Retrieved May 19, 2007, from www.aecf.org/upload/PublicationFiles/FEs3622H334.pdf
   Google Scholar
• Bradford, C. (2002). Risk or race: Racial disparities and the subprime refinance market. Center for Community Change. Retrieved March 16,2007, from www. communitychange.org/shared/publications/downloads/Risk_or_Race_5-02. pdf
   Google Scholar
• Brown, W. O., Jr., Findlay, D. W., Lehman, T. E., Maloney, M. T., & Meehan, J. W., Jr. (2004). Payday lending: A practical overview of a growing component of America ‘s economy. Consumer Credit Research Foundation. Retrieved February 20,2007, from www.consumercreditresearchfoundation.org/_files/PaydayLendingFinal_woTitle.pdf
   Google Scholar
• Bush, G. W. (2007). President Bush discusses homeownership financing. Retrieved September 3, 2007, from www.whitehouse.gov/news/releases/2007/08/20070831-5.html
   Google Scholar
• Calhoun, M. (2006, December 19). CRL release of “Losing ground” paper on subprime mortgage foreclosures. Retrieved May 14, 2007, from www. responsiblelending.org/press/statements/page.jsp?itemID=31217027
   Google Scholar
• Carr, J. H., & Schuetz, J. (2001). Financial services in distressed communities: Framing the issue, finding solutions. Retrieved March 20, 2007, from www.fanniemaefoundation.org/programs/financial.pdf
   Google Scholar
• Center for Responsible Lending. (2006). Financial quicksand: Payday lending sinks borrowers in debts with $4.2 billion in predatory fees every year. Retrieved December 12,2006, from www.responsiblelending.org/pdfs/rr012-Financial_Quicksand-l 106.pdf
   Google Scholar
• Center for Responsible Lending. (2007). Subprime lending is a net drain on homeownership(CRL Issue Paper No. 14). Retrieved September 11, 2007, from www.responsiblelending.org/pdfs/rrO12-Financial_Quicksand-1106. pdf
   Google Scholar
• Chi, P., & Laquatra, J. (1998). Profile of housing cost burdens in the United States. Journal of Family and Economic Issues, 79(2), 175-193.
   Google Scholar
• Clark, D. (2001). Expanding the scope of HOEPA. Retrieved April 15,2007, from www.ftc.gov/be/v010004.shtm
   Google Scholar
• Elliehausen, G., & Lawrence, E. C. (2001). Payday advance credit in America: An analysis of customer demand(Monograph No. 35). Washington, DC: Credit Research Center, Georgetown University. Retrieved February 20,2007, from http://msb.georgetown.edu/prog/crc/pdf/mono35.pdf
   Google Scholar
• Engel, K. C, & McCoy, P. A. (2001). A tale of three markets: The law and economics of predatory lending. Texas Law Review, 80(6), 1255-1383.
   Google Scholar
• FDIC. (2007, April 17). Federal regulators encourage institutions to work with mortgage borrowers who are unable to make their payments. Retrieved April 25, 2007, from www.fdic.gov/news/news/press/2007/pr07032.html
   Google Scholar
• Federal Reserve Board. (2007, March 2). Agencies seek comment on subprime mortgage lending statement. Retrieved April 5,2006, from www.federalreserve. gov/boarddocs/press/bcreg/2007/20070302/
   Google Scholar
• Graves, S. M. (2003). Landscapes of predation, landscapes of neglect: A location analysis of payday lenders and banks. The Professional Geographer, 55(3), 303-317.
   Google Scholar
• House Committee on Ways and Means. (2007). Ways and Means approves mortgage forgiveness debt relief bill legislation would prevent families from “double whammy” of tax liability on foreclosures. Retrieved September 26, 2007, from http://waysandmeans.house.gov/news. asp?formmode=release&id=564
   Google Scholar
• Howell, B. (2006). Exploiting race and space: Concentrated subprime lending and housing discrimination. California Law Review, 94(101), 101-147.
   Google Scholar
• Johnson, R. W., & Johnson, D. P. (1998). Pawnbroking in the U.S.: A profile of customers. Washington, DC: Credit Research Center, Georgetown University.
   Google Scholar
• King, U., Parrish, L., & Tanik, O. (2006). Financial quicksand: Payday lending sinks borrowers in debt with $4.2 billion in predatory fees every year. Report from Center for Responsible Lending. Retrieved February 24, 2007, from www.responsiblelending.org/pdfs/rrO 12-Financial_Quicksand-1106.pdf
   Google Scholar
• Kutty, N. (2005). A new measure of housing affordability : Estimates and analytical results. Housing Policy Debate, 76(1), 113-142.
   Google Scholar
• Mortgagee Letter 2007-11. (2007). The FHA Secure initiative and guidance on appraisal practices in declining markets. Retrieved September 11,2007, from www.mortgagebankers.org/files/News/InternalResource/56552_ML07-11. pdf
   Google Scholar
• Renuart, E. (2002). Stop predatory lending. Boston, MA: The National Consumer Law Center.
   Google Scholar
• Richter, L., & Tan, C. (2002). Retail financial services initiative: A report on innovative products and services for low income and unbanked customers. Chicago: National Community Investment Fund.
   Google Scholar
• Rushton, E. W. (2007). Testimony before the committee on banking, housing and urban affairs. Retrieved March 22, 2007, from www.banking.senate.gov/index.cfm?Fuseaction=Hearings. Detail&HearingID=256
   Google Scholar
• Scheessele, R. M. (2002). Black and white disparities in subprime mortgage refinance lending. (Housing Finance Working Paper Series, HF-014). Washington, DC: U.S. Department of Housing and Urban Development.
   Google Scholar
• Shipler, D. (2004). The working poor: Invisible in America. New York: Knopf.
   Google Scholar
• Smith, J. A. (2007). Testimony on behal fo the conference of state bank supervisors on mortgage turmoil: Causes and consequences. Retrieved March 22, 2007, from www.banking.senate.gov/index.cfm?Fuseaction=Hearings. Detail&HearingID=256
   Google Scholar
• Stegman, M. A., & Faris, R. (2003). Payday lending: A business model that encourages chronic borrowing. Economic Development Quarterly, 17(1), 8-32.
   Google Scholar
• U.S. Department of the Treasury. (2007). Federal regulators encourage institutions to work with mortgage borrowers who are unable to make their payments(NR2007-41). Retrieved April 23, 2007, from www.occ.treas.gov/ftp/release/2007-41.htm
   Google Scholar