MFY-ACLU Report: Lender Abuses and Feeble Enforcement Cause Minority Homeowners to Lose Homes

In a  new report, Here We Go Again: Communities of Color, the Foreclosure Crisis, and Loan Servicing Failures, MFY Legal Services (MFY) and the American Civil Liberties Union (ACLU) show that New York State communities of color are unnecessarily bearing the brunt of loan servicers’ modification failure, with no effective regulatory response from the government. The report, the first to analyze narrative data from the Consumer Financial Protection Bureau, demonstrates that regulatory authorities have failed to enforce fair lending laws and have not examined their own data to see if communities of color are benefitting equally from government loan modification programs.