Category Archives: Latest News

Racial & Ethnic Disparities Found in Medina County Mortgage Lending

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African Americans in Medina County are denied mortgage loans more often than whites and, when they obtain loans, are more likely to receive high-cost subprime loans than whites, a new study of mortgage lending reveals. The study also found that Hispanics are also denied mortgage loans more often than whites. Read the full press release: Medina County Community Lending Factbook Press Release: October 2009 (https://www.thehousingcenter.org/Files/Download-document/89-Medina-County-Community-Lending-Factbook-Press-Release-October-2009.html). Read the full report: Medina County Community Lending Factbook: October 2009 (https://www.thehousingcenter.org/Files/Download-document/88-Medina-County-Community-Lending-Factbook-October-2009.html).

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Payday Lenders Operating in 81 Ohio Counties, Charging Up to 680% Interest

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Payday lenders have avoided the 28% rate cap set out in the 2008 legislation by obtaining licenses to make loans under other Ohio Laws. Lenders now operate 1,020 stores statewide. Read the full Press Release (https://www.thehousingcenter.org/Files/Download-document/65-The-New-Face-of-Payday-Lending-in-Ohio-March-2009.html) Read the full report: The New Face of Payday Lending in Ohio (https://www.thehousingcenter.org/Files/Download-document/68-The-New-Face-of-Payday-Lending-in-Ohio-March-2009.html)

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Housing Center Finds Persisting Racial and Ethnic Disparities in Ohio Mortgage Lending

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African Americans and Hispanics Face More Loan Denials and Receive Higher Interest Rates than whites. Cleveland Region Worst in State for Subprime Lending Disparities Read the full Press Release (https://www.thehousingcenter.org/Files/Download-document/62-Persisting-Racial-Ethnic-Disparities-in-Ohio-Mortgage-Lending-February-2009.html) Read the full report: Persisting Racial & Ethnic Disparities in Ohio Mortgage Lending (https://www.thehousingcenter.org/Files/Download-document/61-Persisting-Racial-Ethnic-Disparities-in-Ohio-Mortgage-Lending-February-2009.html)

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No to legal loan sharks

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Now that the Ohio House has – at long last – taken steps to rein in legalized loan-sharking, state senators should ignore pressure and protests from those who profiteer from the poor and act quickly to endorse payday-lending restrictions. House Bill 545, passed by a bipartisan 68-26 vote, would cap annual interest on payday loans at 28 percent. Currently, interest and fees can run as high as an annual rate of 391 percent. The legislation also would establish a minimum 31-day loan period, limit customers to four loans in 12 months, and prohibit loan-initiation fees.

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Forty Years of Fair Housing: A Time to Celebrate?

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Two thousand and eight marks the 40th Anniversary of the passage of the Fair Housing Act. This significant legislation signed forty years ago on April 11, 1968 by President Lyndon Johnson signaled a federal commitment to ending housing discrimination and segregation. While fair housing legislation had been debated in Congress for a number of years, it took the assassination of The Rev. Dr. Martin Luther King, Jr., on April 4, 1968, to spur Congress to finally pass a bill outlawing housing discrimination based on race and a number of other grounds.

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