Since 2012 Take Root Milwaukee (TRM) has performed an annual analysis of Home Mortgage Disclosure Act (HMDA) data to assess trends in the local mortgage lending market. This data helps show whether the credit and housing needs are being served in the community, gives public officials and lenders information to help develop policies and programs, and sheds light on lending patterns that could be discriminatory.
The fourth session in this series will focus on the release of 2021 HMDA data for the City of Milwaukee, looking at who the top lenders are, the types of loans made, where loans are made, to whom loans are made, and year-to-year changes.
We will also highlight lenders that seem to do this particularly well and hear from local representatives about new actions they are taking to increase access to credit for non-white and low- to moderate-income borrowers.
Special thank you to U.S. Bank for sponsoring TRM’s Racial Disparities in Homeownership webinar series!
Save the Date! Take Root Milwaukee members annual Happy Hour
Tuesday, December 13 | 4:00-6:00pm | Company Brewing, 735 E. Center St.
After a 3 year hiatus, we are excited to have a happy hour for our members! Join us for food, drink and fellowship. To help us gauge how many to expect, please take a moment to register.
Workgroups meeting
Take Root Milwaukee workgroups have been reformed to better align with the priorities that came out of our Strategic Direction. Each set a standing meeting schedule. If you have not yet signed up to be part of one of these workgroups and would like to, please contact heather@uedawi.org. Engagement & Advocacy - 2nd Mondays, 10:00 - 11:00am via Zoom - next meeting November 14 Home Repair Resources - 3rd Tuesdays, 10:00 - 11:00am via Zoom - next meeting November 15 Home Buying Pipeline - 3rd Wednesdays, 3:00 - 4:00pm via Zoom - next meeting November 16
2021 Year in Review The long awaited Year in Review for 2021 is now available. Check it out! Read the Report HERE
Welcome New Members: Tamara Jones, Homestead Realty
Thank you to these renewing members! GMAR
Milwaukee Habitat for Humanity
PyraMax Bank
Riverworks
Sherman Park Community Association
VIA CDC
Member Highlights
The Wisconsin Help for Homeowners program is now accepting applications until December 30.
After a temporary pause, they are now accepting applications again. Help for Homeowners is a statewide, federally-funded program that can help with overdue bills like mortgage payments, property taxes, utilities, and more. The program is open to individuals and families who live in Wisconsin with overdue housing-related bills, both with and without a mortgage, who meet income and other eligibility requirements, and have experienced a qualified economic hardship since January 21, 2020. Applications and additional information is available at: homeownerhelp.wi.gov.
VIA CDC Turnkey Home for Sale on 2025 S. 25th St. for a sale price of $80,000.
VIA’s Turnkey Program develops affordable single family homes by renovating blighted properties and building new homes for sale to income-qualified owner-occupants. VIA is completing a single family home renovation in partnership with Milwaukee Community Land Trust (MCLT) in November. Property features: 1,752 square feet, 3 bedroom, 3 bathroom, 1.5 car garage, new roof, new plumbing & electrical, new furnace & air conditioning, & new appliances. For information about buyer requirements, visit VIA's website. Learn more and apply at: milwaukeeclt.org/apply or contact Lamont Davis, Executive Director of MCLT 414-788-8211, lamont@milwaukeeclt.org.
The Social Development Commission (SDC) is looking for experienced contractors!
SDC is hosting info sessions on Tuesday, November 15th and Friday, November 18th to educate anyone interested in completing lead abatement work for SDC! Space is limited, so register now for one of the two upcoming info sessions coming up! Please note, attendance is only necessary at one of the following sessions. SDC's Lead-Safe Homes Program completes necessary housing rehabilitation to control or eliminate lead hazards in the community, and we are looking for contractors to join our team.
The Wisconsin Housing and Economic Development Authority Housing and Economic Development (WHEDA) will offer a new financing product in January 2023 to enable Wisconsin homeowners to make improvements and needed repairs. The Home Improvement Loan Program is a fixed-rate, first or second mortgage available to homeowners statewide to enable them to fix or update aspects of their current home rather than purchase a new one. More information on WHEDA single-family loan products is here.
Revitalize Milwaukee is hiring for several positions including Program Operations Manager. See listings here.
Social Development Commission (SDC) has 7 open positions. Click here to view all the positions posted.
United Methodist Children's Services (UMCS) is hiring for a Supportive Housing Social Worker position. View the job description here.
Sector News & Opportunities
Federal Housing Finance Agency (FHFA) announced the validation and approval of both the FICO 10T and the VantageScore 4.0 credit score models for use by Fannie Mae and Freddie Mac. After a multiyear transition period, lenders will be required to deliver loans with both scores when available. Here is the Fact Sheet on this important change.
National Community Reinvestment Coalition (NCRC) recently released a report titled Faulty Foundations: Mystery-Shopper Testing In Home Appraisals Exposes Racial Bias Undermining Black Wealth. Some of the key findings are that appraisers assigned higher values to homes when they believed the owners were White and that Black homeowners experienced unprofessional treatment from appraisers. Read more about and download the report here.
In an article in Shelterforce titled Corporate Landlords Profit from Segregation, at Cost of Black Homeownership and Wealth, Reggie Jackson explores the growth of Corporate Landlords in Milwaukee. Read the article here.
Urban Institute recently published a research report titled Reducing the Black Homeownership Gap Through Underwriting Innovations. The report contributes to a growing conversation about using rental payment history and cashflow data in mortgage underwriting and the potential racial equity implications of their inclusion. Download the report here.
Upcoming Events & Webinars
Next-Generation Innovations in Housing Affordability
Tuesday, November 15, 12:00 p.m. to 4:30 p.m.
Hybrid Event
Join the Urban Institute and Ivory Innovations for a half-day symposium featuring dialogue with the 2022 winners and top 10 finalists of the Ivory Prize for Housing Affordability.
Information and Registration can be found here.
Housing Resource Fair 2022
Sponsored by City of Milwaukee NIDC, Alds. Coggs and Stamper
Saturday, November 19, 10:00 AM-2:00 PM
North Division High School, 1011 W. Center St.
Vendors | Workshops | Free Giveaways
NCRC Just Economy Conference 2023 March 28-30, 2023
Washington Hilton, Washington, D.C. Information and Registration can be found here.
CURRENT MEMBERS *Check your email for renewal notices to remain current!
HOUSING COUNSELING AGENCIES Acts Housing GreenPath Financial Wellness Housing Resources, Inc.* Social Development Commission (SDC) United Community Center
CITY OF MILWAUKEE Department of City Development Department of Neighborhood Services
NONPROFIT & COMMUNITY PARTNERS Clarke Square Neighborhood Initiative Community First, Inc.
Community Insurance Information Center
Greater Milwaukee Association of REALTORS® Havenwoods Neighborhood Partnership* LISC-Milwaukee* Mediate Milwaukee
Metro Milwaukee Fair Housing Council* Milwaukee Christian Center Milwaukee Community Land Trust
Milwaukee Habitat for Humanity MKE United-GMC
Near West Side Partners Revitalize Milwaukee Riverworks Development Corporation Sherman Park Community Association United Methodist Children’s Services (UMCS) VIA Community Development Corporation
WI Partnership for Housing Development*
LENDERS Associated Bank
Bell Bank Mortgage
BMO Harris Bank Chase
CIBC Freddie Mac
Great Midwest Bank Johnson Bank* MGIC
North Shore Bank
Old National Bank
PNC Bank
PyraMax Bank Self-Help Federal Credit Union* U.S. Bank
UW Credit Union
Wells Fargo
WHEDA
REALTORS Arthur Mays, Realty Among Friends
Bonnie Bruno, Northwest Realty
George Calaway, G. Calaway Realty
Johanna Jimenez, Vineyard Real Estate
Karen Taylor, Realty Among Friends
Maritza Valentin, Vineyard Real Estate* Mary Leach-Sumlin, Any House Realty
May K. Vang, Premiere Point Realty
Monique Simmons, EXIT Realty Horizons
Omar Ortiz, Flamboyant Real Estate Group* Patty Santamaria, eXp Realty* Sonya Mays, Midwest Executive Realty
Tamara Jones, Homestead Realty
