Pay for Success (PFS) initiatives have received widespread attention in the United States in the past several years. The outcomes-based projects hold great promise,…
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…
Robert Litan, Nicolas Retsinas, Eric Belsky, Susan White Haag
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April 20, 2000
In November 1999, President Clinton signed into law financial modernization legislation (referred to herein as the Financial Modernization Act (FMA)), perhaps the most…