General World News

Opinion: CRA doesn’t work for banks or IMBs

Last year, in a Housing Wire op-ed, Community Home Lenders of America took the lead nationally in opposing calls to extend the Community Reinvestment Act (CRA) to independent mortgage banks (IMBs). 

The National Community Reinvestment Coalition (NCRC) then returned the volley in an op-ed by Jesse Van Tol advocating for extending CRA to IMBs. And HousingWire brought us together for a spirted “Lunch and Learn” debate on the topic.

As bank regulators conduct a major CRA rulemaking, an honest assessment of CRA is that it has not been effective when it comes to bank mortgage lending. So why would we extend it details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com