What makes community reinvestment act agreements work? A study of lender responses

Abstract

One response to the incentives provided by the Community Reinvestment Act of 1977 (CRA) has been for lenders and community groups to enter into CRA agreements, which involve pledges to provide prescribed levels of service to targeted neighborhoods. This article examines whether lenders actually change their behavior after entering into these agreements.

Using data on CRA agreements and on mortgage lending, we find that institutions increase their lending activity with each year an agreement is in force and that increased lending persists after an agreement expires. Additional analysis shows that agreements that include provisions for mortgage counseling and technical assistance are associated with increased targeted lending. By contrast, agreements with provisions requiring small business counseling and technical assistance and periodic meetings by review committees are associated with somewhat depressed lending levels. Further research is needed to draw definitive implications from this second set of results.     

基层工会加强和创新职工之家活动的途径与方法

建设职工之家是工会组织服务大局、服务职工的重要载体,是提升境界、打造品牌的重要切入点.建家活动要依据时代和实践的发展,不断充实建家内容,创新建家机制,改进建家方法,使建家活动常抓常新,发挥工会组织独特作用.     

基层工会网上职工之家建设的实践探索——以江苏食品药品职业技术学院为例

“互联网+”时代已经来临,基层工会需要拥有自己的信息化工作平台,搭建网上职工之家。基层工会网上建家是工会建家工作的自然延伸和升级行动,是工会工作创新发展的客观需要,也是广大职工的迫切期待。江苏食品药品职业技术学院通过自主研发“工会之家V1.0”平台,开展网上建家实践和规律的探索研究,不仅为工会网上建家工作提供了基层创新案例,也促进了工会工作网上网下的深度融合、互相联动,有效地服务了职工群众。     

Apostolic Minds and the Spinning House: Jane Ellen Harrison and Virginia Woolf's Discourse of Alterity

Jane Ellen Harrison (1850–1928) and Virginia Woolf (1882–1941) are two of the most iconic figures in British feminist history whose enduring influence have helped create and sustain a multitude of feminist discourses. Interestingly, both produced their landmark feminist studies in Cambridge when it was, arguably, the most aggressively anti-feminist institution in Britain at that time. Evidence of the kind of institutionalized disciplinary control Cambridge historically exercised on women can be found in the three Committals books (1823–1894) of the Spinning House (1631–1894) in the University archives. So called because the inmates were given wool to spin, the Spinning House was a penitentiary for young girls who were judged to be compromising the morals of the undergraduates. The Spinning House had its basis in the legal authority of the University which declared ‘That the University by virtue of their Charter sanctioned by Act of Parliament, have an undoubted right to cause the Public Street to be inspected, and loose and disorderly women to be taken up and sent to the Spinning House or the house of correction’. Against the background of the culture encapsulated by the Spinning House, women academics, in the late nineteenth and early twentieth century, were making tremendous efforts to bring about intellectual equality. And though the two—the spinner and the woman student—occupied mutually exclusive spaces, they were nevertheless held on the margins of the power structure that produced both. This paper examines the socio-historical context and the puritan intellectual politics of Cambridge against which feminist theories of Harrison and Woolf were produced to identify some of the methods with which they negotiated masculine orthodoxy and structured their feminist discourse of alterity.     

弘扬时代精神与构建社会主义精神家园

本文探讨了构建社会主义精神家园与弘扬社会主义现代化建设阶段的时代精神的关系。旨在说明,包括社会主义建设阶段各时期在内的时代精神,是当代社会主义精神家园得以形成并且不断发展的载体。因此,弘扬时代精神的过程,也是构建社会主义精神家园的过程。     

Real Denial Rates: A New Tool to Look at Who Is Receiving Mortgage Credit

ABSTRACT

The observed mortgage denial rate (ODR), calculated from Home Mortgage Disclosure Act (HMDA) data, is often used to measure mortgage credit availability, but it does not account for shifts in applicants’ credit profiles. In this article, we develop an additional tool, which we call the real denial rate (RDR), as a way to account for credit differences and hence more consistently measure denial rates and mortgage credit accessibility. We match HMDA data with CoreLogic proprietary data to obtain both borrower demographic information (e.g., income and race and ethnicity) and mortgage credit characteristics (e.g., loan-to-value ratios, debt-to-income ratios, and credit scores). We account for shifts in applicants’ credit profiles by considering only the denial rate of low-credit-profile applicants. Our RDR results show that conventional mortgages have higher denial rates than government mortgages do, racial and ethnic differences are smaller than the ODR indicates but are not eliminated, and small-dollar mortgages have higher RDRs, particularly in the government loan channel.     

‘Unhomely moments’: Civilising domestic worlds in colonial Australia

This article explores the multiple connections between the colonisation of Australia in the nineteenth century and the formation of domestic worlds as the site for ‘civilising’ children. The affective bonds of family were often regarded as an indispensable element in the nurture and training of children, but where the bonds of ‘natural affection’ seemed to pose an obstacle to the civilising project, they were ruthlessly severed.