Search Results
Journal Article
Who has the authority to regulate predatory lending?
An investigation of who has the authority to address predatory lending in the Fourth Federal Reserve District. Regulatory agencies, including the Federal Reserve, are concerned about abusive lending practices that may be corroding some of the positive impacts of CRA-related lending in low- and moderate-income neighborhoods over the last decade.
Working Paper
Redlining in Boston: do mortgage lenders discriminate against neighborhoods?
Historically, lenders have been accused of "redlining" minority neighborhoods as well as refusing to lend to minority applicants. Considerable bank regulation is designed to prevent both actions. However, the strong correlation between race and neighborhood makes it difficult to distinguish the impact of geographic discrimination from the effects of racial discrimination. Previous studies have failed to untangle these two influences, in part, because of severe omitted variable bias. The data set in this paper allows the distinct effects of race and geography to be identified, and it shows ...
Working Paper
Cross-lender variation in home mortgage lending
A lender-specific analysis of differences in minority and low-income mortgage loan originations using new applicant-level data gathered under the Home Mortgage Disclosure Act of 1975.
Journal Article
Taking stock of the Community Reinvestment Act
Over the past 25 years, the Community Reinvestment Act has been found to expand access to mortgage credit. But the banking world keeps evolving. Lending gains were strong during the 1990s, yet disparities still exist. This article provides highlights of an important paper that was produced by Harvard University on CRA's silver anniversary.
Journal Article
Rooting out discrimination in home mortgage lending
An argument that racial discrimination in the home mortgage market arises not only from bigotry, but from statistical discrimination (wherein race is correlated with some hard-to-measure determinants of creditworthiness) and from a lack of cultural affinity between lenders and minorities. The author argues that each of these causes may require a different remedy.
Journal Article
Redlining or red herring?
Journal Article
Lenders and third-party brokers: perspectives on credit scoring and fair mortgage lending: article three in a five-part series
The rise of predatory lending practices has put increasing pressure on lenders to oversee the practices of their third-party mortgage brokers. A lawyer, regulator, consumer advocate, and retired Department of Justice counselor share their perspectives on the subject.