Woodstock Institute publishes research on topics related to economic justice and racial equity, including lending disparities, policy initiatives, predatory practices, and more, with the aim of promoting efforts to close the racial wealth gap.
This report analyzes Home Mortgage Disclosure Act (HMDA) data from 2021 to 2024 to examine outcomes of first and subordinate lien for home improvement in Illinois, Cook County, and Chicago.
In 2021, the Predatory Loan Prevention Act capped the annual percentage rate on consumer loans in Illinois at 36% in a victory for efforts at eliminating structural racism. A new report from Woodstock Institute details both the benefits the PLPA has accrued to Illinoisans and industry’s attempt to circumvent the law.
Our new research brief breaks down racial disparities and trends in 2023 Chicagoland mortgage data. Borrowers of all races saw both higher mortgage denial rates and higher loan costs as interest rates rose and lending activity plummeted, hitting Black and Latine communities already facing barriers to homeownership especially hard.
