The material in Profitwise News and Views is not necessarily endorsed by, and does not necessarily represent views of the Board of Governors of the Federal Reserve System or the Federal Reserve Bank of Chicago.

CURRENT ISSUE

This article presents information on the location of subprime and Alt-A mortgages ("nonprime" loans) in the five states within the Federal Reserve Bank of Chicago's district (Illinois, Indiana, Iowa, Michigan, and Wisconsin). The purpose is to identify the zip codes and communities most affected, or at risk of being affected, by foreclosures. We present a series of maps that show the zip codes with the highest numbers and highest concentrations of subprime and Alt-A loans, as well as the past-due and foreclosure rates in these neighborhoods. For illustration purposes in the print version of this article, we present maps representing the Chicago and Detroit metropolitan areas. The full array of maps is available at the Chicago Fed's Web site, www.chicagofed.org. These maps are designed to inform policymakers, lenders, and nonprofit organizations about where to target outreach, counseling, and other resources for remediation. Download the current issue.

SPOTLIGHT!

In March 2008, CCA convened "Wisconsin Moves Forward to Address Foreclosures." The conference was a continuation of a series of conferences that has focused on the rapid rise of foreclosures in the Federal Reserve's Seventh District, their effects, and efforts to intercede. Conference participants have learned from experts their leading ideas, best practices and models for addressing the mounting level of foreclosures and their ill effects both in Wisconsin and the broader Midwest. This article briefly summarizes the March conference. Read more about the conference and it's outcomes in this issue of Profitwise News and Views. Download Spotlight!

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