Lisa Nelson |

Senior Policy Analyst

Lisa Nelson, Senior Policy Analyst

Lisa Nelson is a senior policy analyst for the Community Development team at the Federal Reserve Bank of Cleveland. In this role, she performs data analysis, conducts applied research, and authors reports on her findings, with a particular emphasis on policy implications. The focus of Ms. Nelson’s work is a broad range of community development issues affecting low- and moderate-income communities. Her applied research is conducted in conjunction with Community Development colleagues and Cleveland Fed economists. Since 2010 Ms. Nelson has served on the board of directors for Neighborhood Housing Services of Greater Cleveland; she is currently the board secretary.

Before joining the bank, Ms. Nelson served as associate director for community information at the Center on Urban Poverty and Social Change at Case Western Reserve University.

Ms. Nelson holds a bachelor’s degree in political science from the University of Tennessee and a master’s degree in public administration from the Maxine Goodman Levin College of Urban Affairs at Cleveland State University.

  • Fed Publications
  • Work in Progress
Title Date Publication Author(s) Type


December, 2012 Federal Reserve Bank of Cleveland, working paper no. 12-40 ; Thomas J Fitzpatrick; Francisca G-C Richter; Stephan Whitaker; Working Papers
Abstract: The housing and economic crises have exerted a strong and lingering impact on housing markets across the nation. In this paper, we assess the degree to which local anti-blight policies have infl uenced housing market outcomes following the crises. The analysis is performed for cities in Cuyahoga County, Ohio. We measure outcomes that characterize market distress and that may be influenced by local housing ordinances including foreclosure, bulk sales, flipping, vacancy, and tax delinquency. Using matching procedures on linked data containing property, loan, and transaction characteristics, we compare outcomes across properties in regulated and unregulated municipalities. Point of sale inspections and vacancy registrations both decrease the probability that homes are flipped (resold within two years). We find that point of sale inspections are positively associated with foreclosures, property tax delinquency, and sales prices below the tax assessed value. The inspections may be revealing the need for expensive repairs in some homes, which could push borrowers underwater and into foreclosure. We find evidence that vacancy registration requirements do lower vacancy. The discussion around policies for housing market recovery, for the most part, has addressed efforts at the federal level. This analysis integrates in discussion of efforts and policies arising at the local level.



January, 2012 Federal Reserve Bank of Cleveland, working paper no. 12-03 ; Ozgur Emre Ergungor; Working Papers
Abstract: Legislation aimed at stabilizing housing markets since the recession has focused on providing funding to acquire and remediate foreclosed and abandoned homes or providing financial assistance and incentives to purchase homes. Cuyahoga County has received over $100 million in such funds since 2008. We investigate the impact of these funds on vacancy rates. We examine neighborhoods in Cuyahoga County where National Stabilization Program dollars were spent and find that the program helped reduce vacancies in neighborhoods where properties were primarily purchased for consumption purposes.



October 19, 2010 A Look Behind the Numbers ; Francisca G-C Richter; A Look Behind the Numbers
Abstract: While relatively few delinquent loans in Ohio are being modified, recent modifications appear to be more successful than past ones. Still, the small percentage of seriously delinquent loans being modified in Ohio, coupled with declining self-recovery rates, suggests that current policy efforts have not been able to effectively cope with the foreclosure crisis to date.



March 27, 2009 A Look Behind the Numbers ; A Look Behind the Numbers
Abstract: Our examination of CRA lending in the Fourth District found that, similar to findings at the national level, CRA-regulated institutions provided a relatively small share of all loans within the district and an even smaller percentage of the riskier high-cost loans. But we also found some intriguing differences. When we narrowed our focus to particular counties in our district, we saw that the extent of high-cost lending by independent mortgage companies was much greater in the two Ohio counties we examined than in Pennsylvania's Allegheny County.



November, 2008 A Look Behind the Numbers ; A Look Behind the Numbers
Abstract: This is the second report in a series that looks at the geographic distribution of foreclosures in counties located within the Federal Reserve's Fourth District. In this report we focus on Allegheny County, home to the city of Pittsburgh. While it appears that foreclosures have not cut as devastating a path through this county as through some others in the District, such as Cuyahoga County, Ohio, the subject of our initial report, they are nevertheless a problem.



August, 2008 A Look Behind the Numbers ; A Look Behind the Numbers
Abstract: Northeast Ohio’s Cuyahoga County, home to the city of Cleveland, has been called the epicenter of the nation’s foreclosure crisis. While effects of the crisis are being felt in regions across the country, Cuyahoga County has consistently been listed at or near the top of areas hit hardest by foreclosure. Why?

Title Date Publication Author(s) Type
The Impact of Local Ordinances on Housing and Housing Finance


October, 2011 ; Thomas J Fitzpatrick; Francisca G-C Richter; Unpublished manuscript