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Report
Recent Data on Mortgage Forbearance: Borrower Uptake and Understanding of Lender Accommodations
This research brief examines data relating to mortgage forbearance using responses to the January 2021 COVID-19 Survey of Consumers conducted by the Federal Reserve Bank of Philadelphia’s Consumer Finance Institute. We study a national sample of 1,172 homeowners with mortgages, who reported the current and past forbearance status of their mortgage and other household credit accounts, discussed their familiarity with and understanding of lender accommodations that might be available to them, and provided their demographic characteristics. Respondents characterize their current employment ...
Report
Economic Reliance on Anchor Institutions
An Analysis of New Data from the Anchor Economy Initiative at the Federal Reserve Bank of Philadelphia
Report
CFI COVID-19 Pandemic's Impact on Third District Consumers
This research brief highlights a survey that measures the pandemic’s effect on employment and financial status of consumers who live the Third District
Report
Beyond the Minimum: Excess Student Loan Payments in Summer and Fall 2023
We provided a view into borrower expectations for resumed payments on the eve of the student loan payment pause coming to an end in our previous report, which was the first in our series on student loan payments resumption. Our report showed that most borrowers successfully resumed payments and expected to continue being able to make payments through the end of 2023, but segments of the student borrower population have not resolved their repayment struggles despite available relief. The trends we identified in the data reflected any debt cancellation granted to borrowers in 2023, loan payoffs ...
Report
1CFI COVID-19 Survey of Consumers — Employment, Income, and Financial Security as of October 2021
This report shares results from Wave 10 of a national survey of consumers investigating the effects of COVID-19 on employment and income data, including employment through the crisis, income changes and expectations for income in 2021, and financial security over the next three to 12 months.
Report
Supporting Philadelphia’s Black Homeowners in the Aftermath of the COVID-19 Crisis
Homeownership remains an important means of building wealth in the United States.2 Purchasing a home early in adulthood can also lead to a virtuous cycle of accumulation by enabling homeowners to borrow against the value of their home to finance investments in higher education, entrepreneurship, and additional asset acquisition that, in turn, can boost lifetime earnings and capital gains.
Report
CFI COVID-19 Survey of Consumers — Wave 6 Highlights Increasing Financial Concerns and the Impact of the Pandemic on Education Loan Holders
In an effort to gain insights into the impact of COVID-19 on financial security in the U.S., the Consumer Finance Institute at the Federal Reserve Bank of Philadelphia is conducting a series of national surveys of consumers that focus on changes in job status, income levels, and personal financial security. Data presented here represent results from the sixth wave of the survey conducted between November 4 and 20, 2020
Report
Overdraft Use During the Pandemic: Insights from the CFI COVID-19 Survey of Consumers
This research brief examines consumers’ use of checking account overdrafts since the beginning of the COVID-19 crisis, using responses gathered from a special module in the Federal Reserve Bank of Philadelphia’s Consumer Finance Institute COVID-19 Survey of Consumers conducted between July 5 and 16, 2021. The overdraft module includes responses from a national sample of 3,615 consumers, 1,054 of whom reported experiencing at least one overdraft charge during the crisis. Respondents provided their demographic and employment characteristics as part of the broader survey. Survey participants ...
Report
Household Rental Debt during COVID-19
This report estimates the number of households with rental debt — and the amount of debt owed — resulting from employment losses attributable to COVID-19.