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Keywords:Discrimination in mortgage loans 

Subprime mortgage pricing: the impact of race, ethnicity, and gender on the cost of borrowing

Some observers have argued that minority borrowers and neighborhoods were targeted for expensive credit in 2004-06, the peak period for subprime lending. To investigate this claim, we take advantage of a new data set that merges demographic information on subprime borrowers with information on the mortgages they took out. In a sample of more than 75,000 adjustable-rate mortgages, we find no evidence of adverse pricing by race, ethnicity, or gender in either the initial rate or the reset margin. Indeed, if any pricing differential exists, minority borrowers appear to pay slightly lower rates, ...
Staff Reports , Paper 368

Journal Article
Redlining or red herring?

Southwest Economy , Issue May , Pages 8-13

Conference Paper
Mortgage discrimination and FHA loan performance

Proceedings , Paper 456

Journal Article
Mortgage lending in Boston: a response to the critics

Three years ago, the Federal Reserve Bank of Boston released an examination of racial patterns in mortgage denial rates in the Boston area. The study was motivated by newly available data on mortgage applications, showing that black and Hispanic applicants were two to three times as likely to be turned down for mortgages as white applicants. The study gathered all the variables thought to be missing from the HMDA analysis, such as the applicants' debt burdens and credit histories, to see whether these economic factors explained the racial difference in denial rates. Although the additional ...
New England Economic Review , Issue Sep , Pages 53-78

Journal Article
Making judgments about mortgage lending patterns

A discussion of discrepancies in methods of evaluating evidence on mortgage-lending discrimination in minority and low-income areas, outlining fundamental differences between studies that focus mostly on neighborhood characteristics and regulatory-agency compliance examinations that concentrate on the attributes of individual lenders.
Economic Commentary , Issue Dec

Conference Paper
Housing-finance intervention and private incentives: helping minorities and the poor


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.
Communities and Banking , Issue Fall , Pages 14-17

Working Paper
Information and screening in real estate finance: an introduction

Working Papers , Paper 94-15

Journal Article
Enforcing anti-redlining policy under the Community Reinvestment Act

Economic Review , Issue Spr , Pages 19-34

Conference Paper
Bias in estimates of discrimination and default in mortgage lending: the effects of simultaneity and self-selection



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