Subprime Lending and Foreclosure in Hennepin and Ramsey Counties

Using data on mortgages and foreclosures for 2005, the most recent year for which the Home Mortgage Disclosure Act (HMDA) data is currently available, the author analyzes the subprime mortgage market in Hennepin and Ramsey Counties with particular attention to racial patterns of mortgage lending in 2005, presents a comparison of foreclosures in Hennepin and Ramsey Counties for 2002 and 2005, and offers a legislative update on bills concerning foreclosure and subprime mortgage lending currently before the Minnesota State legislature.