Paying More for the American Dream III: Promoting Responsible Lending to Lower-Income Communities and Communities of Color

by Adam Rust; Alexis Iwanisziw; Barbara van Kerkove; Charles Bromley; Geoff Smith; Jim Campen; Kevin Stein; Sarah Duda; Thu Tuyen T. To

Apr 22, 2009

This report analyzes 2007 Home Mortgage Disclosure Act data and finds that, in low- and moderate-income communities, depositories with CRA obligations originate a far smaller share of higher-cost loans than lenders not subject to CRA. It also finds that lenders covered by CRA are much less likely to make higher-cost loans in communities of color than lenders not covered by CRA.
Paying More for the American Dream III: Promoting Responsible Lending to Lower-Income Communities and Communities of Color

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  • Copyright 2009 Woodstock Institute. All rights reserved.

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