The Pew Charitable Trusts is driven by the power of knowledge to solve today's most challenging problems. Pew applies a rigorous, analytical approach to improve public policy, inform the public and stimulate civic life.
Pew has several initiatives to conduct research and promote public education and advocacy to advance common-sense solutions to help Americans save for tomorrow and manage debt today.
Home ownership is part of the American Dream, providing not just a place to live, but also a way to acquire wealth and financial security. But families’ home equity and even the very ownership of their homes are being threatened by abusive practices in the subprime mortgage market. A mix of risky mortgage products, loose underwriting standards and weakening home prices is producing a record volume of foreclosures and defaults.
Pew is supporting the Center for Responsible Lending, which aims to champion specific and practical policy solutions to curb abusive subprime home loans by strengthening underwriting and disclosure standards. The center is vigorously promoting practical solutions such as requiring mortgage lenders to verify a borrower’s income and evaluate the ability to repay the debt at the fully indexed rate.
In the absence of federal action, states have been experimenting with stronger regulation of lending practices, refinance programs, homeowner counseling and other actions. The Pew Center on the States and the Pew Health Group have teamed up to provide the first-ever comprehensive look at what states have been doing to address the foreclosure crisis. Defaulting on the Dream: States Respond to America’s Foreclosure Crisis showcases state approaches in two principal areas: (1) helping borrowers avoid foreclosure and keep their homes; and (2) preventing problematic loans from being made in the first place.
Pew is no longer active in this line of work, but for more information, view the materials below and visit the Subprime Mortgages Project on PewHealth.org.
Apr 16, 2008 - A report from the Pew Center on the States and Pew’s Health and Human Services program is the first-ever, comprehensive look at what all 50 states and the District of Columbia are doing to try to address the subprime mortgage fallout.
View: Full Report (Adobe PDF)
Nov 13, 2007 - Report estimates one in five families will lose their homes and 44.5 million of their neighbors will lose hard-earned wealth.
Stay updated with Pew News Now! We invite you to sign up to receive our weekly e-mail newsletter.
Sign Up Today
Receive Pew's weekly newsletter, Pew News Now, in your inbox each Wednesday and learn more about our program work improving public policy, informing the public and stimulating civic life.
A decade ago, the Pew Oceans Commission found that America’s oceans were in crisis. What has happened since?
The Pew Charitable TrustsTel: 215.575.9050 PATel: 202.552.2000 DCEmail: email@example.com
About The Pew Charitable Trusts:
Pew on the Web:
The Pew Charitable Trusts. All rights reserved.
Privacy, Legal and Cookie Policies