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…
This paper analyses the performance of low-income and minority loans (LIMLs) from a large sample of fixed-rate mortgages purchased by Freddie Mac in the 1990s. Our focus is…
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…