August 25, 2001

The Effect of the Community Reinvestment Act on Bank and Thrift Home Purchase Mortgage Lending

Eric S. Belsky, Michael Schill, Anthony Yezer

This analysis considers the extent to which the Community Reinvestment Act has led institutions under its authority to increase the number of home purchase mortgage loans to low-and-moderate-income (LMI) borrowers and neighborhoods. The basis for the analysis is a large sample of loans for the 1993-1999 time period submitted by financial institutions under the Home Mortgage Disclosure Act (HMDA) of 1975. The HMDA data for this analysis have been enhanced through linkage to a descriptive file on lenders from the Federal Reserve Board…

Category: Research Notes

Read More About: Housing Markets & Conditions