[ONLINE] - The Lending Hole at the Bottom of the Market

Why Millions of Homebuyers Can’t Get Small Mortgages
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Conventional wisdom is that high home prices are to blame for declining homeownership rates over the last 15 years. But in fact, an elusive barrier is also stopping millions of would-be homeowners: banks are increasingly unwilling to write small dollar mortgages.

Nearly 20 percent of all owner-occupied homes are valued at $100,000 or less. These “small dollar homes” provide a critical source of housing for low-and-moderate income families. Yet, for a variety of reasons, including unintended consequences of the Dodd-Frank Act, banks are opting out of writing small dollar loans. 

The financial and societal effects of this lending hole are enormous—families who can otherwise afford homes are forced to continue renting or enter into predatory financing arrangements. Black and Latinx households are disproportionately affected by the dearth of small loans and are prevented from building home wealth for future generations. 

Please join us for an online event that will highlight findings from a report by New America's Future of Land and Housing program and the Center for the Study of Economic Mobility at Winston Salem State University examining the causes and consequences of the unavailability of small dollar mortgages nationally and in Winston-Salem, N.C. A panel of experts will take on this complex issue, merging local and national perspectives, and grapple with where we go from here.


Opening Remarks:

  • Yuliya Panfil, Director, Future of Land and Housing, New America
  • Craig Richardson, Director, Center for the Study of Economic Mobility, Winston-Salem State University
  • Tracy Maguze, Officer, Home Financing, Pew Charitable Trusts

Overview of Report Findings: Homeownership and the Hidden Mortgage Hurdle 

  • Sabiha Zainulbhai, Senior Policy Analyst, Future of Land and Housing, New America
  • Zach Blizard, Research Manager, Center for the Study of Economic Mobility, Winston-Salem State University

Panel Discussion:

  • Ben Eisen, Banking Reporter, Wall Street Journal
  • Linna Zhu, Research Associate, Urban Institute
  • Jada Mclean, Co-founder, Hurry Home
  • Neal Parnell, Chief Sales Officer, Piedmont Federal Savings Bank
  • Malcom Glenn, Fellow at Future of Land and Housing, New America and Director of Public Affairs, Better (moderator)


This is a partnered event with:

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