CRAFHAMarket share of conforming-size, home purchase mortgage originations has steadily and substantially shifted from banking institutions to nonbank lenders over reCalem, Paul S.Lambie-Hanson, LaurenWachter, Susan M.Social Science Electronic Publishing...
ECOA is an important federal law promoting fair lending practices. It bars lender discrimination, and guards against bias related to race, religion, national origin, gender, marital status, age, public assistance eligibility, or consumer protection rights. ...
The CRA was one of several laws passed during the late 1960s and 1970s to expand access to credit. Though regulators look at the lending activity and other data in their evaluation, there are no specific benchmarks banks have to meet.3 ...
The CFPB enforces laws and enacts rules and policies to promote a fair and transparent marketplace for consumer financial services, and can be an advocate for anyone who needs to dispute credit report errors or file a complaint against their bank. Monetary policy tools The Fed has changed its...
However, CRA does not allow this with its defined attribution rules. Essentially, any gains and taxation from those investments would be attributed back to the higher income spouse if the funds are simply gifted from the higher income spouse to the other. A spousal investment loan is essentially...
No. Federal law prohibit home lending discrimination, notably the 1968 Fair Housing Act and the 1977 Community Reinvestment Act (CRA). The first of these laws bans discrimination based on someone's race when the person is trying to rent or buy a home, as well as apply for a mortgage. The...
Seiler. “Is Community Reinvestment Act (CRA) Lending Profitable? Evidence from Ratings Revisions.” Managerial Finance 25 (1999), 3–18.Harrison, D. and M. Seiler. (1999) Is Community Reinvestment Act (CRA) lending profitable? Evidence from ratings revisions, Managerial Finance 25, 3-18....
The article focuses on the assertion of the Currency comptroller John Dugan that Community Reinvestment Act (CRA) is not a toxic lending in the U.S. It notes that CRA-related loans performed better than loans by lenders not sub...
CRA Lending Is Profitable for Banks, Study FindsWASHINGTON -- Financial institutions lending in low- and moderate-income areas are making...Seiberg, JaretAmerican Banker