This article uses a unique demonstration program to examine the interaction of CRA-related lending with subprime and FHA lending activity. Specifically, the empirical analysis identifies the extent to which the origination of a CRA mortgage substitutes for FHA and subprime originations during the period 1998-2006.
An analysis of low- and moderate-income borrowers with 30-year-fixed rate mortgages who refinanced using a mortgage broker instead of a retail lender showed a higher likelihood of refinancing into an adjustable-rate mortgage.
Researchers find that low-income adults who receive high levels of money-management teaching in childhood from their parents have higher credit scores and lower credit card debt in adulthood.
An examination of the interrelationship of credit scores, access to credit and wealth remain reveal that while thriftiness has an increasingly positive impact on individuals’ credit scores, this effect is overwhelmed by the influence of the individual’s economic context.
An examination of the impact of pre-purchase homeownership education and counseling on mortgage search finds evidence that it alters participants’ mortgage search behaviors.
The interaction of credit scoring with risk-based pricing has the potential for credit scoring to contribute to the segmentation of low- and high-cost credit markets, specifically, as a mechanism through which credit scores may capture disparities in surrounding credit markets and pass them into future periods and other credit markets.
Nuestro Barrio telenovela, a 13-episode soap opera targeted to Latino immigrants, contains financial literacy content designed to educate Latino immigrants about financial services.
Researchers evaluate the educational model of Nuestro Barrio, a Spanish-language telenovela designed to provide financial education to Latino immigrants
In the years prior to the expansion of the subprime market, a small portion of community reinvestment loans are found to substitute for FHA originations while a much larger substitution effect is found with respect to high-cost originations during the years of the subprime industry‟s growth.
While immediate steps are necessary to stem foreclosures, a comprehensive solution requires a broader brush.
