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Financial System
“Income is how you get out of poverty; assets are how you stay out.” How do we build policies, programs, and products that reduce systematic inequality and advance financial security for all?
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Affordable Housing Financing Is Overpriced, But It Doesn’t Have to Be
Affordable housing construction finance reflects market norms, but its track record shows it’s far less risky than conventional market-rate housing loans. While lower default rates should lead to lower interest rates, they currently do not.
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An Opportunity for Housing Providers to Help Renters Build Credit
Of the 987 low-income renters whose rents were reported through a pilot program, 79 percent saw their VantageScore increase by an average of 23 points, and 15 percent moved into a lower credit score risk tier.
Tracing the Roots of CDFIs: A review of Democratizing Finance
This book is a major contribution to increasing knowledge and awareness of how far the community development finance movement has come in 30 years.
CDFIs Stepped Up During the Shutdown
CDFIs across the country were trying to do what they could to ease the effects of the recent government shutdown. Here is just a partial list.
A Message for CFPB’s Kathy Kraninger: Stand with People, Not Profits
The CFPB’s new head must unequivocally stand with low-income communities of color and restore public trust.
Where Banks and the Public Agree on CRA . . . and Disagree
Despite a CRA exam pass rate of 98 percent, the major thrust of bank comments is that they want easier exams with fewer moving parts and less uncertainty.
Small Investments Can Yield Big Returns. Review of A Few Thousand Dollars
Over a dozen stories of how Americans from all different backgrounds have managed to leverage a few thousand dollars to lead lives that have helped thousands of other people, and strategies to reinvigorate a movement to influence asset building policy nationally.
Is the Housing Market the Answer to the Racial Wealth Gap?
In discussions around closing the racial wealth gap, we should be reminded that a very large portion of wealth gained by white Americans should be seen as ill-gotten.
Warren Housing Bill Presents a Clear Choice on CRA
Senator Elizabeth Warren and the Office of the Comptroller of the Currency have offered contrasting visions for the future of CRA. How do they differ, and what would the implications for historically disinvested communities be?
Shelter Shorts, The Week in Community Development—Sept. 21
News from—and affecting—the community development world.
In Memoriam: Jeremy Nowak
Jeremy Nowak, a founder of Reinvestment Fund and founding board member of the Opportunity Finance Network (OFN), passed away on July 28. Nowak was, as anyone who knew him would […]
Shelter Shorts, The Week in Community Development—July 23
Serial Eviction Filings in Atlanta | Rent Control for Seniors | HUD Wants Examples of Housing Discrimination | Worker-Owned Cooperative Triples Workforce
CDCs and Nonprofits are Indeed Leading Affordable Housing Innovation
Blaming community development corporations (CDCs) for the high cost of affordable housing construction is not only misguided, but it ignores the work of CDCs and nonprofits that are leading efforts to reduce costs in the key areas of financing, construction, and land costs.