Bhutta, Neil - Federal Reserve Board (Board of Governors of the … - 2008
I identify and quantify the mortgage supply effect of the Community Reinvestment Act (CRA), a law mandating that banks … census tracts CRA targets. Using a comprehensive source of micro data on MSA mortgage applications, I find that CRA affects … originations was about 4% between 1994 and 1996, and expanded to 8% in 1997-2002, consistent with the timing of a reform …