It is not surprising that someone who collects speeding tickets like baseball cards would face high auto insurance premiums. After all, insurance prices are meant to relate to the risk of loss associated with the policyholder and, also, to...
The bill on which we have spent the most time this session is SB 2804, and we have worked closely with our ally, the Illinois Asset Building Group. The bill, which is sponsored by Senator Daniel Biss, would amend...
Despite the fact that the Federal Housing Finance Agency, the organization that held mortgages on about 258,000 properties in Chicago, is exempt from the registration requirement, the amendment has resulted in an increase of over 2,100 buildings registered as...
Comparing the Chicago vacant building dataset with HUD/USPS data shows substantial differences in the number of units reported, although those may be largely the result of the differences in the reporting criteria for the two datasets. Despite the differences...
The Qualified Mortgage (QM) Rule went into effect January 10, 2014, and appears to have impacted lending practices by parsing out some potential applicants who had reduced chances of approval under QM before they even submitted an application. This...
We are further excited to announce that the evening’s program will be honoring Accion Chicago, highlighting the organization’s hard-won successes in community lending. As a community development financial institution, Accion Chicago’s work has long expanded access to safe capital...
“It requires banks that have the benefit of FDIC insurance for deposits, to affirmatively serve the credit needs of people in their area, including specifically the needs of low and moderate income people,” said Dory Rand, President of Woodstock...
SB 2804 and HB 5776 Woodstock is working with the Illinois Asset Building Group to support bills sponsored by Senator Daniel Biss and Representative Chris Welch that would amend the Illinois Wage Assignment Act. A wage assignment is a...
Bank of America is announcing a new mortgage that will allow potential home buyers with income below the area median and a credit score of at least 660 to get a mortgage with as little as a 3 percent...
A major part of the work I do consists of analyzing data, developing formulas for spreadsheets, and searching for patterns in the numbers, not the kind of work that appeals to most people. To make the work even less...