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NCRC

CRA Myth and Fact

Myth: The Community Reinvestment Act (CRA) caused the foreclosure crisis. Facts: The majority of subprime loans were originated by non-CRA covered financial institutions. In fact, only about 25 percent of sub-prime loans were made by institutions covered by CRA.¹ CRA was passed in 1977.  The explosive growth in subprime lending occurred more than two decades

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NCRC COO Jim Carr Speaks at the Federal Reserve Bank of Atlanta

In a recent speech at the Federal Reserve Bank of Atlanta, Jim Carr, NCRC’s Chief Operating Officer, offered some thoughts on the future of the housing market. Jim prefaced his housing policy recommendations with a discussion of the current foreclosure crisis that he argues will impact housing and community development for years to come–particularly as

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