Milwaukee’s homeownership racial disparity rate is one of the largest gaps in the country and a reflection of decades of systemic, institutionalized racist policies and practices most commonly referred to as “redlining.” In 1975 Congress enacted the Home Mortgage Disclosure Act (HMDA), which required certain financial institutions to provide mortgage data to the public on an annual basis. This data helps show whether lenders are serving the housing needs of their communities, gives public officials information that helps to develop policies, and sheds light on lending patterns that could be discriminatory.

Since 2012, UEDA’s Take Root Milwaukee (TRM) program has performed an annual analysis of HMDA data to assess trends in the local mortgage lending market, who the top lenders are, the types of loans made, where loans are being made, to whom loans are made, and how this changes from year to year. 

In 2020 the TRM Education & Advocacy workgroup developed an educational series based on what we’ve learned, looking at additional tools in the HMDA data set to inform our work in sustainable homeownership, and encourage our members and partners to work to advance racial equity when it comes to accessing credit and the opportunity of homeownership. 

Thank you to our workgroup co-chairs, Bethany Sanchez and Lamont Davis, and other TRM members Bill Kopka, Maria Prioletta, and Irma Yepez Klassen for their support to plan the series. Stay tuned as this series will continue into 2022!


Below
you will find a brief recap and links to resources for each session, ancheck out this tip sheet for suggestions on increasing loans to people of color and in low and moderate income neighborhoods which was shared during our 2021 sessions.

What We Can Learn From Home Mortgage Disclosure Act Data | 12/3/20
The first session explored 2019 Home Mortgage Disclosure Act data for Milwaukee County and the City of Milwaukee, discussed how this information can be used to increase access to credit for non-white and low- to moderate-income borrowers, and reviewed lenders who appear to meeting the needs of their community with their loans. View the session recording here and presentation slides here.

HMDA Lending Disparity Profiles | 10/8/21
Our next presentation focused specifically on borrowers and reviewed loan applications, originations, and denials by race. We also discussed strategies to ensure all lenders, not just CRA staff, are doing everything possible to get potential borrowers to the table and close on a home loan. View the session recording here and presentation slides here

2020 HMDA Analysis & Credit Access | 12/3/21
The third session in this series focused on the release of 2020 HMDA data for the City of Milwaukee. We looked at top lenders, types of loans made, where and to whom loans were made, and changes from 2019 to 2020. We broadened our discussion to how racial disparities continue to persist in credit indicators that impact mortgage lending, and talked about strategies to increase access to credit for non-white and low- to moderate-income borrowers. View the session recording here and presentation slides here.

This recent blog from the Urban Institute Housing & Housing Finance provided important context to this year’s HMDA analysis: Closing the Homeownership Gap Will Require Rooting Systemic Racism Out of Mortgage Underwriting (October 2021).

Since 2018, UEDA has hosted the Emerging Topics in Economic Development Series to provide frequent and intentional opportunities for our members and partners to connect, learn new ideas, and feature best practices in the sector.  

Our 2021 series featured recent housing development and planning efforts in Milwaukee, highlighting different yet collective approaches to affordable housing work. Below you will find a brief recap and links to resources for each session.

We’d like to extend our sincere thanks and appreciation to the following sponsors for their support of this educational series.

 

UEDA 2021 Emerging Topics Series Sponsors are Chase, US Bank, We Energies, Associated Bank and PNC Bank

 

Session 1: Revitalization Through Preservation | July 13
Husch Blackwell and the Milwaukee Preservation Alliance joined us for an informative session on how to approach different types of historic preservation projects, the benefits of using historic tax credits, and also received an in-depth look at the Milwaukee Soldiers Home restoration project. View the session recording here. And more recently, the Soldier’s Home project was recognized in December 2021 with an award for Excellence in Historic Preservation by HUD and highlighted in a recent story on WUWM.

Session 2: City of Milwaukee HUD Consolidated Plan Navigators | September 15
This session took a deep dive into the City of Milwaukee’s HUD-approved 2020-2024 Consolidated Plan, sharing what types of data are included, how to find and use that data, and how community-based organizations and private sector partners can align their work to complement the goals and outcomes outlined in the plan. The UEDA team created 10 topic “navigators” designed to help people easily access information in the plan. View the session recording here and find the full plan and Navigator tools at www.ConPlanMKE.org

Session 3: Milwaukee’s Collective Affordable Housing Strategic Plan | October 22
Our last session featured Milwaukee’s Collective Affordable Housing Strategic Plan (released in September 2021), and was held in partnership with the Community Development Alliance (CDA) and City of Milwaukee. It was an active, virtual session with attendees providing feedback on how to best structure implementation of the three top approaches that have been identified as priorities for 2022. View the session recording here and presentation slides here.

In August of 2021, Take Root Milwaukee (TRM) celebrated 10+ years of helping Milwaukee citizens purchase, repair and maintain their homes. The celebration, which was postponed from 2020, brought together participants from over 50 organizations to reflect on the progress of the program and envision what the future of homeownership in Milwaukee could look like.

Take Root Milwaukee was launched in 2010 as a partnership with the City of Milwaukee and Freddie Mac. It is a collaborative effort, from a diverse group of organizations, to preserve and promote sustainable diverse neighborhoods by encouraging and maintaining homeownership.

“The birth of Take Root Milwaukee came out of the foreclosure crisis,” said Milwaukee Mayor Tom Barrett. “It allowed realtors, counselors, neighbors and community groups to work with the city to stabilize housing in Milwaukee.”

The celebration welcomed Joaquin Altoro, Executive Director of the Wisconsin Housing and Economic Development Authority (WHEDA), who provided guests with inspiring opening remarks, and Mayor Tom Barrett, who has been a strong advocate and supporter of the network since its launch in 2010.

Krisit Luzar, UEDA Executive Director, and Johanna Jimenez, Take Root Milwaukee Program Manager, shared insight into how this network was formed and how it has continued to grow and evolve over the years to meet the needs of the community. It is currently a program of UEDA.

Additionally, members of the TRM Resource & Oversight Committee recognized both Kristi Luzar and Jessica Wetzel of UEDA with a Certificate of Recognition for their commitment to Take Root Milwaukee and the success it has brought to the Milwaukee-area residents it serves.

Over the past decade, Take Root Milwaukee has brought together 54+ organizational members, representing homeownership counseling agencies, financial institutions, realtors, local government, neighborhood organizations and other community partners.  Together, they have helped 7,600+ individuals and families become homeowners, and nearly 7,000 individuals and families complete critical repairs in their homes.

To learn more about Take Root Milwaukee, check out our 10 Year Impact Report and watch our Anniversary Celebration video below.

On September 16, 2021 Bank On Greater Milwaukee (BOGM) celebrated their two-year anniversary with a virtual awards ceremony that recognized six local entities for their efforts to improve the overall financial health of the Milwaukee community.

As a program of the Urban Economic Development Association of Wisconsin (UEDA), Bank On Greater Milwaukee serves as a collaboration between financial institutions, community-based organizations and local governments to provide residents safe, affordable, and certified banking accounts.

“A basic transaction account is an important first step to participating in the financial mainstream”, said Constance Alberts, Bank On Greater Milwaukee Program Manager. “We are extremely fortunate to engage a coalition of community organizations, banks, credit unions, and governmental entities who are dedicated to ensuring more households belong to the financial mainstream by developing low-barrier accounts and providing supportive financial education services.”

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