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Consumers and debt protection products: results of a new consumer survey

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Abstract

This article presents a number of key findings from a review of the data that mortgage lending institutions reported for 2011 under the Home Mortgage Disclosure Act (HMDA). The article documents home-lending activity reflected in the HMDA data and places the 2011 activity in historical context. It also examines changes in mortgage market concentration in recent years and in the credit scores of recent homebuyers. In addition, the article reviews patterns of lending across different racial or ethnic and income groups and across areas that differ in terms of housing market distress. Finally, it discusses how census updates may affect evaluations of the performance of banking institutions under the Community Reinvestment Act.

Suggested Citation

  • Thomas A. Durkin & Gregory E. Elliehausen, 2012. "Consumers and debt protection products: results of a new consumer survey," Federal Reserve Bulletin, Board of Governors of the Federal Reserve System (U.S.), vol. 98(Dec), December.
    • Handle: RePEc:fip:fedgrb:y:2012:i:dec:n:v.98no.9
    DOI: 10.17016/bulletin.2012.98-9
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    File URL: http://www.federalreserve.gov/pubs/bulletin/2012/articles/consumer-debt/consumer-debt-protection-20121227.htm
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    File URL: http://www.federalreserve.gov/pubs/bulletin/2012/pdf/consumer_debt_products_20121227.pdf
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    Cited by:

    1. Ashton, John K. & Hudson, Robert S., 2017. "The price, quality and distribution of mortgage payment protection insurance: A hedonic pricing approach," The British Accounting Review, Elsevier, vol. 49(2), pages 242-255.

    More about this item

    Keywords

    Mortgages; Home Mortgage Disclosure Act;

    JEL classification:

    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies

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