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…
BABC 04-12: Credit scoring has helped to produce a robust credit environment and increase access to homeownership for millions of consumers. This paper examines the role…
BABC 04-10: Spending financed by home equity extraction helps smooth household consumption and bolster the economy in economic downturns, but may reduce wealth…
This paper examines trends in prime-market mortgage lending to low- and moderate-income families and to families living in underserved areas, hereafter affordable lending,…