Financing Community Development:
Learning from the Past, Looking to the Future

A Federal Reserve System Community Affairs Research Conference
Washington, D.C.
March 29-30, 2007

This Web site contains the papers from a conference organized by the Community Affairs Officers of the Federal Reserve System. Papers included in the Web site are to be considered working papers. They are reproduced here to make them available to scholars and practitioners with a serious interest in the topics presented. Many of the papers are in preliminary form and will be submitted for publication elsewhere. The works here should be cited as working papers and considered preliminary drafts of any subsequent publication. Although all papers have been screened for relevance to the subject matter of the conference, they have not been subjected to a rigorous refereeing process nor edited for form or content by the Federal Reserve.

Moderator
Ruth M. Clevenger,
Federal Reserve Bank of Cleveland

Session 1
Session 2
Session 3
Session 4
Session 5
Session 6

Session Two: Are Legislative Remedies to Limit Predatory Lending Really Remedies?
The Effect of Prepayment Penalties on the Pricing of Subprime Mortgages (PDF, 131KB)
Gregory Elliehausen and Michael E. Staten, Financial Services Research Program, George Washington University
Jevgenijs Steinbuks, Department of Economics, George Washington University
Presentation (PDF, 20KB)

State and Local Anti-Predatory Lending Laws: The Effect of Legal Enforcement Mechanisms (PDF, 303KB)
Raphael Bostic, University of Southern California; Kathleen Engel, Cleveland State University; Patricia McCoy, University of Connecticut School of Law; Anthony Pennington-Cross, Marquette University; and Susan Wachter, University of Pennsylvania
Presentation (PDF, 20KB)

Discussant
Michael Calhoun, Center for Responsible Lending Remarks (PDF, 691KB)
Presentation (PDF, 158KB)

Host
Dede Myers, Vice President and Community Affairs Officer
Federal Reserve Bank of Philadelphia

Guest Speaker
Mary Lee Widener, President
Neighborhood Housing Services of America, Inc.
Final Remarks (PDF, 48KB)
Presentation (PDF, 669KB)