Residential mortgage markets in the United States have been tumultuous in recent years. Much has been written about this period of dislocation, but little empirical work has assessed specifically its impact on low-income and minority communities, or African-American and Hispanic borrowers...

This paper documents trends and drivers of the residential mortgage market during the years 2004 through 2009, specifically focusing on the access to and pricing of mortgages originated by African-American and Hispanic borrowers, and by borrowers living in low-income and minority communities....