The Community Reinvestment Act (CRA) encourages lenders to make mortgage loans to certain classes of borrowers. However, the law does not apply to all lenders, and lenders do not necessarily receive credit for all loans made to borrowers of a particular class. We use this variation to test...

As foreclosure initiations have soared over the past couple of years, many have questioned whether mortgage servicers have the right incentives to work out troubled subprime mortgages so that borrowers can avoid foreclosure and remain in their homes. Some critics claim that because servicers,...

Delinquencies on residential mortgages and home foreclosures have risen dramatically in the past couple of years. The mortgage losses triggered a broad-based financial crisis and severe recession, which, in turn, exacerbated the initial financial distress faced by homeowners. Although servicers...

Analyzes the 2006 data collected under the Home Mortgage Disclosure Act (HMDA). The review focuses primarily on the pricing information in the data. Includes an assessment of factors that account for the variation in rates of serious delinquency on mortgage loans across U.S. metropolitan area...

Analyzes the 2006 data collected under the Home Mortgage Disclosure Act (HMDA). The review focuses primarily on the pricing information in the data. Includes an assessment of factors that account for the variation in rates of serious delinquency on mortgage loans across U.S. metropolitan area...

Analyzes the 2006 data collected under the Home Mortgage Disclosure Act (HMDA). The review focuses primarily on the pricing information in the data. Includes an assessment of factors that account for the variation in rates of serious delinquency on mortgage loans across U.S. metropolitan area...

Analyzes the 2006 data collected under the Home Mortgage Disclosure Act (HMDA). The review focuses primarily on the pricing information in the data. Includes an assessment of factors that account for the variation in rates of serious delinquency on mortgage loans across U.S. metropolitan area...

The widespread use of credit scoring in the underwriting and pricing of mortgage and consumer credit has raised concerns that the use of these scores may unfairly disadvantage minority populations. A specific concern has been that the independent variables that comprise these models may have a...