Mortgage Lending, Social Responsibility, and Public Policy: Some Perspectives on HMDA and CRA
建立了一个简单的社区住房市场模型，以此审视与红线歧视相关的担忧，并联系HMDA和CRA听证会上的证据，评估贷款机构是否不负责任以及这些证据能否说明歧视性贷款导致城市衰败。
This paper sets out a simple model of the neighborhood housing market. With this as a frame of reference it reviews some of the concerns associated with redlining and relates these to evidence presented at the HMDA and CRA Hearings. Does this evidence support the claims that lenders were acting irresponsibly? What if anything can be concluded from such evidence about the alleged role of inadequate and discriminatory lending in causing urban decay? The HMDA was approved so that citizens would have access to data which would enable them to appraise the social responsibility shown by lenders; and the CRA, so that regulatory agencies would have a tool to encourage lenders to do better. How well do the Acts fulfill these intentions?