This article describes mortgage lending activity in 2012 based on newly available data reported under the Home Mortgage Disclosure Act (HMDA). In addition, we present the results of a first look at a new data set composed of HMDA records matched to borrowers' credit records. Using the matched...

This article describes mortgage lending activity in 2012 based on newly available data reported under the Home Mortgage Disclosure Act of 1975 (HMDA). In addition, we present the results of a first look at a new data set composed of HMDA records matched to borrowers' credit records. The matched...

A growing literature suggests that housing policy, embodied by the Community Reinvestment Act (CRA) and government sponsored enterprises' affordable housing goals, may have caused the subprime crisis. The conclusions drawn in this literature, for the most part, have been based on associations...

Some have suggested that housing policy, embodied by the Community Reinvestment Act (CRA) and affordable housing goals of the government-sponsored enterprises (GSEs), caused the subprime crisis. We examine if these programs led to worse mortgage outcomes using two approaches. The first examines...

A growing literature suggests that housing policy, embodied by the Community Reinvestment Act (CRA) and the affordable housing goals of the government sponsored enterprises, may have caused the subprime crisis. The conclusions drawn in this literature, for the most part, have been based on...