Authors: Kelly, Donald and Ayala, Maria
Summary
Woodstock Institute, under contract to the City of Chicago Department of Housing, has evaluated the CH.A.M.P. I program to determine why an unexpectedly small percentage of mortgage loans were made to blacks, and to recommend remedies to the problem. The Institute analyzed the CH.A.M.P. I loan portfolio of each participating lender. The lending patterns of all Chicago-area lenders, including those not in the program, were analyzed as well to identify those with proven ability to make the loans to minorities and in target areas. Interviews of lenders and brokers were conducted to identify factors contributing to the problem. Demographic and housing data were analyzed to determine the compatibility of target groups with the program requirements.
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