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Mortgage Lending Disparities in Metropolitan Buffalo: Implications for Community Reinvestment Policy

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  • Silverman, Robert Mark
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    Abstract

    This article examines patterns of mortgage lending in metropolitan Buffalo, New York. The analysis is based on 1999-2002 HMDA data and 2000 Census data for metropolitan Buffa-lo. Mortgage lending patterns in census tracts are compared using descriptive statistics, GIS mapping, and multiple regression. The results from this analysis indicate that disparities in mortgage lending between census tracts are attributable to differences in: educational at-tainment, neighborhood socioeconomic distress, residential stability, and the age of neigh-borhood housing stock. It is noteworthy that after controlling for other variables, race and core city location did not significantly affect mortgage lending patterns. The findings from this analysis indicate that disinvestment is no longer confined to minority communities in core cities. Instead, it is becoming a more general phenomenon in metropolitan areas. Policy recommendations are forwarded in light of the findings from this research.

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    Bibliographic Info

    Article provided by Mid-Continent Regional Science Association in its journal Journal of Regional Analysis and Policy.

    Volume (Year): 38 (2008)
    Issue (Month): 1 ()
    Pages:

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    Handle: RePEc:ags:jrapmc:132340

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    Related research

    Keywords: Community/Rural/Urban Development; Research Methods/ Statistical Methods;

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    1. Harold Black, 1999. "Is there discrimination in mortgage lending? What does the research tell us?," The Review of Black Political Economy, Springer, vol. 27(1), pages 23-30, September.
    2. Munnell, Alicia H. & Geoffrey M. B. Tootell & Lynn E. Browne & James McEneaney, 1996. "Mortgage Lending in Boston: Interpreting HMDA Data," American Economic Review, American Economic Association, vol. 86(1), pages 25-53, March.
    3. Stephen L. Ross & John Yinger, 2002. "The Color of Credit: Mortgage Discrimination, Research Methodology, and Fair-Lending Enforcement," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262182289, December.
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    Cited by:
    1. Kashian, Russell & Cebula, Richard & Cramer, Eric, 2014. "Foreclosures in an Exurb: Multiple Empirical Analyses through a Prism," MPRA Paper 55557, University Library of Munich, Germany.

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