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'Don't Know What You Got Till It's Gone' — The Effects of the Community Reinvestment Act (CRA) on Mortgage Lending in the Philadelphia Market

Ding, Lei - 2017

mortgage lending by focusing on a large number of neighborhoods that became eligible and ineligible for CRA credit in the …

Persistent link: https://www.econbiz.de/10012953611

"Don't know what you got till it's gone" : the Community Reinvestment Act in a changing financial landscape

Lei, Ding; Nakamura, Leonard Isamu - 2020

This study provides new evidence on the impact of the Community Reinvestment Act (CRA) on mortgage lending by taking …

Persistent link: https://www.econbiz.de/10012198565

Predatory Mortgage Lending

Bond, Philip; Musto, David K.; Yilmaz, Bilge - 2019

Regulators express growing concern over predatory loans, which the authors take to mean loans that borrowers should decline. Using a model of consumer credit in which such lending is possible, they identify the circumstances in which it arises both with and without competition. The authors find...

Persistent link: https://www.econbiz.de/10014047120

GSE exposure and risk-taking in uncertain times

Elul, Ronel; Gupta, Deeksha; Musto, David K. - 2020

When home prices threaten to decline, lenders bearing more of a community's mortgage risk have an incentive to combat …

Persistent link: https://www.econbiz.de/10012198551

The Community Reinvestment Act (CRA) and Bank Branching Patterns

Ding, Lei - 2019

This paper examines the relationship between the Community Reinvestment Act (CRA) and bank branching patterns, measured by the risk of branch closure and the net loss of branches at the neighborhood level, in the aftermath of Great Recession. Between 2009 and 2017, there was a larger decline in...

Persistent link: https://www.econbiz.de/10012860548

Effects of the Community Reinvestment Act (CRA) on small business lending

Lei, Ding; Lee, Hyojung; Bostic, Raphael W. - 2018

This study provides new evidence on the effectiveness of the Community Reinvestment Act (CRA) on small business lending by focusing on a sample of neighborhoods with changed CRA eligibility status across the country because of an exogenous policy shock in 2013. The results of...

Persistent link: https://www.econbiz.de/10011971145

The Role of Regulation and Bank Competition in Small Firm Financing : Evidence from the Community Reinvestment Act

Avramidis, Panagiotis; Pennacchi, George; Serfes, … - 2022

This paper analyzes how bank regulation that promotes greater access to credit impacts the financing of targeted small firms. It develops a model where banks compete with trade creditors to fund small firms and applies it to study the effects of the Community Reinvestment Act (CRA). The...

Persistent link: https://www.econbiz.de/10013300270

Appraising home purchase appraisals

Calem, Paul Seth; Lambie-Hanson, Lauren; Nakamura, … - 2018

Home appraisals are produced for millions of residential mortgage transactions each year, but appraised values are … institutional framework that governs mortgage lending lead to information loss in appraisals (that is, appraisals set equal to the … incidence of mortgage default at loan-to-value boundaries (notches) above which mortgage insurance rates increase. Appraisals …

Persistent link: https://www.econbiz.de/10011971156

How big is the wealth effect? : decomposing the response of consumption to house prices

Aruoba, S. Borağan; Elul, Ronel; Kalemli-Ozcan, Sebnem - 2018

We investigate the effect of declining house prices on household consumption behavior during 2006-2009. We use an individual-level dataset that has detailed information on borrower characteristics, mortgages and credit risk. Proxying consumption by individual-level auto loan originations, we...

Persistent link: https://www.econbiz.de/10011971339

Credit Cycle and Adverse Selection Effects in Consumer Credit Markets - Evidence from the HELOC Market

Calem, Paul S. - 2011

The authors empirically study how the underlying riskiness of the pool of home equity line of credit originations is affected over the credit cycle. Drawing from the largest existing database of U.S. home equity lines of credit, they use county-level aggregates of these loans to estimate panel...

Persistent link: https://www.econbiz.de/10013128765