Despite technological advances, buying and financing a home remains a complicated process fraught with unknowns and uncertainties. This is especially true for inexperienced low- and moderate-income (LMI) renters. For example, a recent Fannie Mae ethnographic study of LMI aspiring homebuyers … Continued
Author: Michael A. Stegman
Researchers offer evidence that Community Reinvestment Act lending can be undertaken in a safe, sound and profitable manner, and examine the aspects of the incentive mechanisms of the CRA to determine which work well and which should be adjusted to strengthen the act’s effectiveness.
Given strong and enduring market fundamentals and secondary market innovations that have the potential to channel significantly more capital to affordable lending, the mortgage industry will respond to the upsurge in effective demand from households who come to the table with savings in hand, financially ready and able to become successful homeowners.
The odds that a late-paying affordable home loan borrower will manage to catch up on payments instead of sinking into serious delinquency can vary as much as 60 percent between servicers, suggesting that servicing strategies matter. This article documents the … Continued
Center researchers document the social outcomes of Banc of America’s Capital Access Funds, which channel private equity to under-served markets. Banc of America Capital Access Funds (BACAF) is a fund of funds channeling private equity capital to underserved markets. BACAF … Continued