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Neighborhood information and home mortgage lending

Author

Listed:
  • Robert B. Avery
  • Patricia E. Beeson
  • Mark S. Sniderman

Abstract

An examination of how information about a neighborhood affects the level of lending activity in it--specifically, whether lenders deny mortgage applications at higher rates in neighborhoods where they have little experience in evaluating applications and/or where the lending community in general lacks such experience.

Suggested Citation

  • Robert B. Avery & Patricia E. Beeson & Mark S. Sniderman, 1996. "Neighborhood information and home mortgage lending," Working Papers (Old Series) 9620, Federal Reserve Bank of Cleveland.
    • Handle: RePEc:fip:fedcwp:9620
    DOI: 10.26509/frbc-wp-199620
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    References listed on IDEAS

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    1. Duca John V. & Rosenthal Stuart S., 1993. "Borrowing Constraints, Household Debt, and Racial Discrimination in Loan Markets," Journal of Financial Intermediation, Elsevier, vol. 3(1), pages 77-103, October.
    2. Glenn B. Canner & Dolores S. Smith, 1991. "Home Mortgage Disclosure Act: expanded data on residential lending," Federal Reserve Bulletin, Board of Governors of the Federal Reserve System (U.S.), issue Nov, pages 859-881.
    3. Lang William W. & Nakamura Leonard I., 1993. "A Model of Redlining," Journal of Urban Economics, Elsevier, vol. 33(2), pages 223-234, March.
    4. Stuart A. Gabriel & Stuart S. Rosenthal, 1991. "Credit rationing, race, and the mortgage market," Journal of Urban Economics, Elsevier, vol. 29(3), pages 371-379, May.
    5. William C. Gruben & Jonathan A. Neuberger & Ronald H. Schmidt, 1990. "Imperfect information and the Community Reinvestment Act," Economic Review, Federal Reserve Bank of San Francisco, issue Sum, pages 27-46.
    6. Robert B. Avery & Patricia E. Beeson & Mark S. Sniderman, 1994. "Underserved mortgage markets: evidence from HMDA data," Working Papers (Old Series) 9421, Federal Reserve Bank of Cleveland.
    7. Stiglitz, Joseph E & Weiss, Andrew, 1981. "Credit Rationing in Markets with Imperfect Information," American Economic Review, American Economic Association, vol. 71(3), pages 393-410, June.
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    Citations

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    Cited by:

    1. Marsha J. Courchane & Stephen L. Ross, 2019. "Evidence and Actions on Mortgage Market Disparities: Research, Fair Lending Enforcement, and Consumer Protection," Housing Policy Debate, Taylor & Francis Journals, vol. 29(5), pages 769-794, September.
    2. Gyourko, Joseph & Hu, Dapeng, 2002. "Spatial distribution of affordable home loan purchases in major metropolitan areas: documentation and analysis," Regional Science and Urban Economics, Elsevier, vol. 32(5), pages 549-589, September.

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