Turning everywhere,getting nowhere: experiences of seeking help for mortgage delinquency and their implications for foreclosure prevention

The growing literature on financial, demographic, and institutional aspects of the foreclosure crisis largely neglects the experiences and actions of homeowners. This in-depth account of homeowners' responses to mortgage delinquency and the success of the strategies they employ to prevent foreclosure is based on focus groups conducted in 2006 with low- and moderate-income homeowners, and nonprofit housing professionals in five US cities. The events precipitating mortgage delinquency often set off a cascade of trouble placing multiple demands on homeowners' financial, emotional, and social resources. Homeowners pursued foreclosure prevention assistance from a variety of sources including their lender, social welfare agencies, and nonprofit homeownership organizations, but encountered many obstacles to resolving mortgage delinquency. Their unsuccessful attempts to secure assistance contributed to financial and emotional strain and sometimes worsened prospects of preventing foreclosure. Despite the numerous federal policies developed to address the problem of foreclosure, the experiences described by participants in this study continue, indicating the need for more systematic, enforceable, and preventive policies to address foreclosures in the future.     

Supporting low-income homeowners: lessons from a program to coordinate weatherization and rehabilitation services

Homeownership is the primary way most families build wealth in this country. Low-income homeowners are less likely to get that benefit because they are more likely to own older houses that are more costly to operate and need more essential maintenance. Rapidly escalating home energy costs are straining the budgets of many low-income homeowners, increasing the likelihood of under maintenance and mortgage default. This paper presents an evaluation of a demonstration program designed to coordinate weatherization and rehabilitation programs in order to assist low-income households, decrease energy costs, and to improve the condition and value of their homes. The experience of 11 local non-profit organizations, funded to develop programs to coordinate weatherization and housing rehabilitation services, were studied over a five-year period. The results of the evaluation indicate that there are many obstacles to coordinating weatherization and rehabilitation programs, but that it can be accomplished under the right conditions. Major gaps exist between program eligibility thresholds and in the types of assistance available to low-income homeowners. Policy recommendations for facilitating coordination are presented.     

The resurgence of denial rates for home loans: an examination of disparate effects on groups of applicants in the upper Midwest

Mortgage application denial rates have increased since 2002, but it is unclear to what extent this increase in denials has differentially affected “non-traditional” mortgage applicants that do not resemble “traditional” white, non-Hispanic opposite-sex couple applicants. This article uses augmented Home Mortgage Disclosure Act (HMDA) data to investigate disparities in denial rates between traditional and non-traditional mortgage applicants between 2004 and 2008 in the Federal Reserve Bank's ninth district. We find evidence that lenders became more cautious in lending decisions between 2004 and 2008, treating applicants with the same incomes and requested loan amounts differently over time. After accounting for a variety of loan, applicant, lender, and environmental characteristics, we find that many “non-traditional” applicant groups across the ninth district experienced persistently higher mortgage application denial rates when compared to white, non-Hispanic opposite-sex couples. In some cases, the gap in the mortgage application denial rates between non-traditional and traditional applicants has actually increased over time.     

Innovation and the cost of mortgage credit: A historical perspective

Abstract

Since the inception of U.S. institutional mortgage lending in the 1830s there have been major changes in mortgage instruments, the delivery system, and funding sources. Some of these changes qualify as innovations that have lowered the cost of credit and increased its availability. This article divides the history of U.S. mortgage finance into three periods and identifies the source and type of major innovations.

The “Origins” period, from 1831 to 1931, included the development of many mortgage lending institutions and instruments. The second era, “A Wonderful Life,” featured a government‐supported special circuit that dominated mortgage finance from 1932 to 1981 and witnessed development of mortgage‐backed securities. The current era, “A Brave New World,” features a new system of credit delivery dominated by specialized institutions and technology. In it, application of automated underwriting and artificial intelligence may have far‐reaching effects on the market and the accessibility of low‐income households to mortgage credit.     

Struggling to stay out of high-poverty neighborhoods: housing choice and locations in moving to opportunity's first decade

Improving locational outcomes emerged as a major policy hope for the nation's largest low-income housing program over the past two decades, but a host of supply and demand-side barriers confront rental voucher users, leading to heated debate over the importance of choice versus constraint. In this context, we examine the Moving to Opportunity experiment's first decade, using a mixed-method approach.

MTO families faced major barriers in tightening markets, yet diverse housing trajectories emerged, reflecting variation in: (a) willingness to trade location – in particular, safety and avoidance of “ghetto” behavior – to get larger, better housing units after initial relocation; (b) the distribution of neighborhood types in different metro areas; and (c) circumstances that produced many involuntary moves. Access to social networks or services “left behind” in poorer neighborhoods seldom drove moving decisions. Numerous moves were brokered by rental agents who provided shortcuts to willing landlords but thereby steered participants to particular neighborhoods.     

Institutionalized social skill and the rise of mediating organizations in urban governance: the case of the Cleveland Housing Network

In this paper we build on an expanding literature that attempts to understand the changing organizational and institutional dimensions of contemporary urban governance. We do so by utilizing the Cleveland Housing Network as a lens through which salient characteristics of contemporary governance become visible. Doing so enables us to highlight the distinctive challenges of the multi-institutional nature of contemporary governance arrangements and “heterarchic” governance in particular. These challenges situate mediating organizations as central components of governance arrangements. Finally, by focusing on the distinctive characteristics of the organization's leaders, we demonstrate that mediating organizations are usefully thought of as institutionalized forms of the “social skill” of institutional entrepreneurs.     

Economic security in an era of globalization: definition and provision

Abstract

Globalization has undermined the traditional definition of economic security that centered on economic vulnerability to other states. At the same time, globalization has produced a redefinition of economic security in light of the risks posed by cross-border networks of non-state actors and by the economic volatility of the new global environment. The relationship between economic globalization and undesirable economic and political outcomes must be specified precisely and assessed carefully, however. Judgements about economic security must weigh the effects of increased volatility introduced by globalization against the benefits of improved economic performance in the longer run. Institutions can offset economic insecurity through the provision of insurance, shoring up policy credibility, and guiding adaptation to the new environment. National institutions will remain central to the provision of economic security under conditions of globalization. Regional and global institutions can complement one another (and national institutions) in their alleviation of the new economic insecurity. Although some regional institutions drifted in the wake of the Asian financial crisis, new regional alternatives have emerged that promise to stake out new modalities of economic security.     

Increasing knowledge of food deserts in Brazil: The contributions of an interactive and digital mosaic produced in the context of an integrated education for sustainability program

As efforts to end hunger, food insecurity and malnutrition evolve within the context of United Nations' Global Compact and Sustainable Development Goals; such problems remain far from being solved due, in part, to their complex nature. Brazil exemplifies such multifaceted scenario as the country has left the “hunger map” in 2014 but now faces another issue: The quality of the food available to its population. Physical, social, economic, cultural, and political factors have impacted the Brazilian food environment, shaping new eating habits such as the replacement of traditional local food for processed foods. Within this context, educational institutions may play an important role in spreading knowledge about major social challenges such as this and their interdependent causes. This paper presents the case study of a project conducted by business and public administration students in a discipline called Integrated Education for Sustainability (FIS), offered to undergraduate students at one of Brazil's most important management schools. In 2017, the project worked on the topic of Food Deserts, challenging the students to develop a digital and interactive mosaic that uncovers the situation of the food deserts in São Paulo. Data were collected from participant observation, field trips, events, and interviews conducted in class with 18 professionals working on several areas related to the topic. The article provides insights into (a) the importance of education to tackle the sustainability challenges, (b) lessons learned from the 14th edition of FIS course, and (c) the several barriers to food access in the city of São Paulo.     

Networks and nonprofits: Opportunities and challenges in an era of federal devolution

Abstract

Community development corporations and other nonprofit organizations are increasingly responsible for producing and managing low‐income housing in urban America. This article examines the network of governmental, philanthropic, educational, and other institutions that channel financial, technical, and political support to nonprofit housing sponsors. We analyze the relationships among these institutions and propose an explanation for their success. We then consider challenges the network must confront if the reinvention of federal housing policy is to succeed.

Block grants and rental vouchers, the dominant emphases of federal policy, present opportunities and constraints for nonprofit housing groups and their institutional networks. While states and municipalities are likely to continue to use block grants for nonprofit housing, the viability of this housing will be severely tested as project‐based operating subsidies are replaced by tenant‐based vouchers. We recommend ways that the federal, state, and local governments should help the institutional support network respond to this challenge.     

The road home: an examination of the successes and challenges of housing non-profits in New Orleans since Katrina

Hurricane Katrina claimed the lives of nearly 1000 Louisiana residents and damaged about 80% of the building stock in New Orleans. Unequal protection from the hurricane and uneven recovery patterns have left some communities (predominantly low-income and black) with few options to rebuild their homes. These factors have created a high demand for housing non-profits specializing in new construction as well as low-cost home repairs. Drawing from interviews with a number of stakeholders including non-profits completing home repairs and new construction for low-income residents, this article identifies the type, amount and target areas for work done by housing non-profits in post-Katrina New Orleans. Additionally, it identifies the challenges for future work and limitations in the non-profits’ ability to address housing inequity in New Orleans.     

Cooperation between counterparts in parliament from an agenda-setting perspective: legislative coalitions as a trade of criticism and policy

Governments may bargain with parties in parliament to silence them. This insight follows from the agenda-setting literature, which emphasises the power of the opposition to criticise the government. The literature on legislatures points to the fear of loss of future voter support as a motivation for majority building. However, it does not name factors that can cause such uncertainty. One such factor is opposition criticism. This article argues that majority building does not only involve an exchange of policy support; governments use legislative coalitions to dampen unwanted opposition blame. By offering the opposition noteworthy policy influence in legislative coalitions, governments avoid opposition criticism in return, in addition to having initiatives passed. In order to test this argument, a large dataset is compiled on opposition criticism in parliament and the media before and after the 325 bargained legislative agreements settled in Denmark from 1973 to 2003. It is found that such agreements are more likely amidst opposition criticism and that they dampen opposition criticism.     

Private and public authority interactions and the functional quality of sustainability governance: Lessons from conservation and development initiatives in Tanzania

The changing shape of sustainability governance has been a key academic and policy concern in the past two decades, as part of a wider debate on the interactions between public and private authority in governing the economy, society, and the environment. In this article, we contribute to these debates by examining how these interactions operate locally and across jurisdictions in three conservation and development initiatives in Tanzania and what impact they have on the functional quality of sustainability governance. We find that clear division of responsibilities, coupled with material incentives for communities and equal and transparent distribution of benefits, are key positive contributors to functional quality. These factors underpin the complementary interactions (collaborative at the local level; institutional layering across jurisdictions) that are needed to successfully negotiate and implement the compromises needed to balance conservation and development goals. We also find that competitive dynamics are harmful to functional quality, especially those taking the form of local institutional duplication and of dominance by central government across jurisdictions. These tend to appear especially when sustainability initiatives involve multiple stakeholders with wide discrepancies in resources, interests, and power, which leads to compromises determined in a top-down manner.     

Confronting the Governance Challenges of Developing Nigeria's Extractive Industry: Policy and Performance in the Oil and Gas Sector1

The issue of economic growth and human development has been a central concern in the oil and gas sector of Nigeria's extractive industry, and this has featured prominently in the agitations and generalized restiveness in the Niger Delta, the oil‐producing region. While many studies have focused on these problems, policies aimed at confronting them have not received much broad attention. This article bridges this research gap by holistically focusing on the solution to the problem. In doing this, the article examines the policies during the Obasanjo administration from 1999 to 2007 in order to critically assess the efficacy or inefficiency of the policies in reversing the general problem now known as the “resource curse,” and to offer a better understanding of the deeper political, social, and economic issues that drive outcomes. The article finds that while significant efforts were made to avoid the boom and bust cycle of oil and lower volatility by de‐linking public expenditure from oil revenue through the “oil‐price‐based fiscal rule,” generally, progress in this area was not matched by improvement in the other areas examined by this study, notably peace and safety of lives and oil/gas installations, the development of the oil‐producing region, environmental security and sustainability, and the transparent and accountable use of oil/gas revenues.     

States' interests as limits to the power of finance: Regulatory reforms in early local government financialization in the US and UK

Through a comparison of typical and deviant cases, this study probes and refines the augmented power model which argues that the structural power of the financial industry fosters its instrumental power in influencing regulatory reforms under certain scope conditions. It shows the industry's success in influencing policymakers to authorize municipalities to use derivatives and thereby to financialize their debt management in the US (typical case). The failure of banks to acquire such a law in the UK (deviant case) reveals a hitherto little-noticed condition under which this power explanation collapses: states' fiscal and monetary constitution. We demonstrate that analyzing the operation of finance power requires a precise consideration of how states' fiscal and monetary constitution structures governments' responses to financial industry's regulatory preferences. Moreover, we conclude that synthesizing business power research with literature on the mutual dependence between states and finance helps to explain patterns of state financialization.     

解构与重构：行业协会商会脱钩改革的政会关系变迁研究

作为中国现代社会组织体制改革的突破口,行业协会商会与行政机关脱钩改革从试点进入到全面推开阶段。考察脱钩改革的历史变迁,“去行政化”的核心目标和“推行政会分开”的改革方式一以贯之,政府对行业协会商会既培育发展又规范管理、秩序优先于活力的价值排序,构成中国行业协会商会管理体制改革的逻辑起点。脱钩改革带动政会关系从“行政主导”的解构转向“政治领导与合作共治并进”的重构,为此,需要从政治领导关系和合作共治关系两方面对构建适应于后脱钩时代的新型治理制度框架和整合机制提出完善建议。     

中小历史文化名城旅游产业发展的几点思考——以陕西省汉中市长青华阳景区的旅游开发为例

通过对国家级历史文化名城汉中市的旅游产业发展现状进行分析与反思,提出在交通便利、全国旅游产业整体大发展的背景下,汉中市应当抓住机遇,集中有限的人力、物力、财力资源打造全国知名的历史名胜景点,以兼具风景、历史、蜀道资源的长青华阳景区的旅游开发带动汉中市全市整体的旅游产业发展,再以整体的旅游发展来促进特定景点继续提高质量、扩大影响。此种方式适用于各方面资源有限的中小历史文化名城的旅游开发。     

Beyond post-national citizenship: an evaluation of the experiences of Tunisian and Romanian migrants working in the agricultural sector in Sicily

To further advance the literature which contests the shift from national to post-national citizenship, the aim of this paper is to compare the experiences of two groups of migrants to reveal how national immigration policies remain influential and determine the employment and living conditions of migrants. Reporting evidence from Italy on the different experiences of non-European Union (Tunisian) and European Union (Romanian) migrants employed as seasonal workers in the agricultural sector in Sicily, the finding is that the degree of exploitation they witness in their working conditions is shaped by their citizenship entitlements. The outcome is that it is revealed that (European Union) citizenship status, rather than formal employment, provides greater belonging and security to economic migrants.     

共享经济中供需双方的信用风险管理研究——以知识技能共享为例

共享经济正在成为“双创”的重要切入点。较之实物商品,知识技能更容易通过互联网平台分享,但也更容易因为供需双方的信息不对称而引发各种纠纷,进而导致共享平台难以为继。解决这些问题的根本在于强化市场经济有效运行的基础——信用风险管理体系,包括对供需双方身份、交易和评价内容的信息审核机制,充分反映双方交易历史、交易能力和信用现状的信用评价体系,动态保证金、第三方资金托管和商业保险相结合的信用保障机制,有第三方参与仲裁的在线争议处理机制,及平台、政府和行业协会协调运行的三方联合监管等五个方面。这些内容,也构成了共享平台风险管理和控制的重要内容。     

Global governance of training standards in an outsourced labor force: The training double bind in seafarer license and certification assessments

The shipping industry is among the most globalized of all industries and is characterized by complex modular supply chains, including a largely outsourced labor force of “just‐in‐time” casualized workers from developing countries and the transitional East European states. Despite long‐standing efforts by international bodies to standardize and regulate the education and training of seafarers, variations in practices and standards persist. Employers exercise contradictory influences on education and training providers, on the one hand demanding the urgent provision of more recruits (encouraging corner‐cutting), and on the other complaining about the poor quality of recruits received (urging crackdowns on poor quality providers and more rigorous examinations) – the training double bind. This paper reflects on these issues through the study of the problematic use of computerized assessments in seafarer examinations, drawing upon findings from a study involving research in six different case study countries providing maritime labor and interviews with stakeholders.     

Joint sector reviews—M&E experiments in an era of changing aid modalities: Experiences from JSRs in the education sectors of Burkina Faso,Mali and Niger

Aid policy and practice have been thoroughly shaken up over the past few years. One of the reform areas relates to monitoring and evaluation (M&E). In short, aid recipients are asked to elaborate result‐oriented frameworks while donors are expected to harmonise and align their policies and frameworks. This article examines the extent to which joint sector reviews (JSRs) could take the M&E reform agenda forward. JSRs are M&E exercises at the sector level which have the potential to satisfy the M&E needs of various stakeholders while, at the same time, also contributing to the M&E reform agenda. They are increasingly utilised on the ground, yet, so far, there do not exist any systematic stocktakings and/or analyses of them. Our own analysis of a sample of JSRs from the education sectors of Burkina Faso, Mali and Niger indicate that JSRs score highly on harmonisation, coordination, leadership and broad‐based participation, but poorly on alignment. They generally prioritise accountability over learning needs and largely neglect accountability and learning at the level of the sector institutional apparatus. In this article, findings from the field are contrasted with insights from evaluation theory and practice so as to provide suggestions for on the ground JSR improvements. Copyright © 2009 John Wiley & Sons, Ltd.