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Two UNC Center for Community Capital researchers were featured in the Federal Reserve Bank of Cleveland’s Fall 2010 issue of its policy magazine, Forefront, speaking on issues related to better serving low- and moderate-income people in the United States.

Center Associate Director Janneke Ratcliffe discussed the potential to apply Community Reinvestment Act lending guidelines to address the foreclosure crisis by working with local organizations on the foreclosed real estate they hold in their portfolio.

“The Community Reinvestment Act did not cause the current foreclosure crisis, but it might be able to ameliorate some of its consequences,” Ratcliffe said in her commentary.

Center Research Fellow Michal Grinstein-Weiss’ work on how financial education in Individual Development Account program contributes to asset building among low-income households was featured in an article, “Mortgage Counseling, Plain Language, and Financial Education: What Works?” by Forefront Associate Editor Amy Koehnen.

Among the examples Koehnen cited from Grinstein-Weiss’ research was one survey finding showing that “40 percent of African American and Latino respondents incorrectly believed that a 20 percent down payment was mandatory to qualify for a mortgage, and more than 50 percent of this same group believed that holding the same job for five or more years was required.”

The Fall 2010 issue of Forefront may be found online at

The UNC Center for Community Capital is the leading center for research and policy analysis on the transformative power of capital on households and communities in the United States. Part of the College of Arts and Sciences at the University of North Carolina at Chapel Hill, the center offers data and analysis that helps policymakers, advocates and the private sector find sustainable ways to expand economic opportunity to more people more effectively. For more information, visit or call (919) 843-2140.

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