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 04-7: Little systematic work exists to address the many and varied ways some borrowers end up with subprime mortgages and to what extent those loans serve the true…
BABC 04-6: This paper examines home purchase mortgage choice employing data from 2002. Conventional, FHA, subprime, and special programs for low-to-moderate income…