The Community Reinvestment Act and Mortgage Lending to Lower Income Borrowers and Neighborhoods

2011 ◽  
Vol 54 (4) ◽  
pp. 953-983 ◽  
Author(s):  
Neil Bhutta
Keyword(s):  
Mortgage Lending ◽  
Community Reinvestment Act ◽  
Lower Income ◽  
Community Reinvestment

Is the Community Reinvestment Act Still Relevant to Mortgage Lending?

2019 ◽  
Vol 30 (1) ◽  
pp. 46-60
Author(s):  
Paul Calem ◽  
Lauren Lambie-Hanson ◽  
Susan Wachter
Keyword(s):  
Mortgage Lending ◽  
Community Reinvestment Act ◽  
Community Reinvestment

The Community Reinvestment Act and Targeted Mortgage Lending

2010 ◽  
Vol 42 (7) ◽  
pp. 1351-1372 ◽  
Author(s):  
DREW DAHL ◽  
DOUGLAS D. EVANOFF ◽  
MICHAEL F. SPIVEY
Keyword(s):  
Mortgage Lending ◽  
Community Reinvestment Act ◽  
Community Reinvestment

Role of the Community Reinvestment Act in Mortgage Supply and the U.S. Housing Boom

2020 ◽  
Vol 33 (11) ◽  
pp. 5288-5332 ◽  
Author(s):  
Vahid Saadi
Keyword(s):  
House Price ◽  
Mortgage Lending ◽  
Community Reinvestment Act ◽  
Census Tracts ◽  
Community Reinvestment ◽  
Housing Boom ◽  
Price Growth ◽  
Boom Period ◽  
The U.S

Abstract This paper studies the role of the Community Reinvestment Act (CRA) in the U.S. housing boom-bust cycle. I find that enhanced CRA enforcement in 1998 increased the growth rate of mortgage lending by CRA-regulated banks to CRA-eligible census tracts. I show that during the boom period house price growth was higher in the eligible census tracts because of the shift in mortgage supply of regulated banks. Consequently, these census tracts experienced a worse housing bust. I find that CRA-induced mortgages were awarded to borrowers with lower FICO scores and were more frequently delinquent.

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