The Community Reinvestment Act: Its Impact on Lending in Low-Income Communities in the United States

This paper reviews data and research studies that demonstrate that CRA has helped to increase lending to low-income borrowers and in low-income neighborhoods, and that expanded CRA lending has been accomplished while maintaining sound lending practices and bank profitability. The paper also discusses literature that draws alternative conclusions, as well as studies that find, despite increases in lending and banking services to low- and moderate-income areas and to minority borrowers, that disparities still exist between the services afforded to these communities and those offered to the market as a whole

The Viability Of A Private Central Facility For Mortgage-Related Securities

The concept of a mortgage exchange has emerged as a topic of current discussion and debate.  This study presents the results of a national survey of fund managers and advisors which attempted to determine the feasibility of a privately sponsored central facility for the creation and marketing of mortgage-related securities.  The study discusses the methodologies of the research and presents the conclusions,  The survey results suggest that such a central facility would be viable if the sponsors possessed experience in real estate lending, have a willingness to maintain direct contact with funds, are able to reduce commissions on transactions, provide the role of master servicer on the underlying mortgages, and structure the securities according to certain specifications such as ratings in terms of risk class, call protection, insurance, liquidity in a secondary market, geographic diversification, and inflation indexation

The Community Reinvestment Act: Its Impact on Lending in Low-Income Communities in the United States

This paper reviews data and research studies that demonstrate that CRA has helped to increase lending to low-income borrowers and in low-income neighborhoods, and that expanded CRA lending has been accomplished while maintaining sound lending practices and bank profitability. The paper also discusses literature that draws alternative conclusions, as well as studies that find, despite increases in lending and banking services to low- and moderate-income areas and to minority borrowers, that disparities still exist between the services afforded to these communities and those offered to the market as a whole