There are many causes to the collapse of the housing market and the recent financial turmoil, but the contribution of the CRA appears marginal. While banks did engage in…
UCC08-15: We find that the foreclosure process varies widely across states and that the costs associated with foreclosure rise significantly with the length of the…
Roberto Quercia, Michael Stegman, Walter Davis, Eric Stein
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October 1, 2001
The 1977 Community Reinvestment Act (CRA) was enacted to encourage banking institutions to meet the credit needs of their entire communities. In response, lenders have…