New Dataset Empowers Researchers To Precisely Track The Effects Of Redlining Over Time
The HLD effectively bridges the gap between the different eras of HMDA data collection and clarifies it for researchers, using the same census tract boundaries to organize the information. This accessible format should open new doors for investigating the historical effects of redlining and disinvestment through new, geographic alignment across multiple decades of mortgage reporting. [Read more]
NCRC Hires Rosemary “Rose” Ramirez As Corporate Counsel And Director Of Compliance
Meet Rosemary “Rose” Ramirez, NCRC’s new Corporate Counsel and Director of Compliance. Rosemary will be instrumental in representing NCRC in all legal matters and ensuring the organization’s adherence to legal and regulatory standards while championing corporate integrity and ethical practices. [Read more]
NCRC Hires Eden Forsythe As Chief Policy Counsel
Eden came to NCRC after serving as the Deputy Staff Director for Policy and General Counsel at the House Select Committee on the Strategic Competition between the United States and China where she helped pass major bipartisan legislation and oversaw policy for committee Democrats on issues including trade, labor rights, human rights, supply chains and the transition to clean energy. [Read more]
Reports
Decades of Disinvestment: Historic Redlining and Mortgage
Lending Since 1981
Redlining was one of several practices and policies which were instrumental in the creation of existing patterns of residential segregation. Maps created by the Home Owners Loan Corporation (HOLC) 90 years ago document the federal government’s development of redlining which codified less-formal local practices of exclusion and lending discrimination, perpetuating and expanding segregation and inequality nationwide. Discriminatory lending practices predate HOLC. The roots of redlining stretch back to the enslavement and exploitation of African Americans over the centuries, and to the xenophobia of many Americans toward many immigrant groups. This history of economic and social injustice laid the groundwork for many of the disparities we see today. [Read more]
Field Notes
The Lone Wolf Of Fair Lending In San Diego County
By Jason Richardson
Dave’s commitment to social justice and economic equality is extensive. Starting as a supporter of economic justice and labor rights for migrant and seasonal farmworkers in 1968, he has been involved in numerous campaigns and organizations dedicated to defending the rights of the poor and marginalized. He volunteered for the late Alan Cranston’s campaigns for US Senate, supported various boycotts for workers’ rights, and was actively involved in the United Farm Workers’ movements alongside Cesar Chavez. [Read more]
NCRC CDF Entrepreneur Spotlight: Olive Gift Co.
By NCRC
This is part of a series of profiles showcasing the talented entrepreneurs of NCRC’s Community Development Fund.Olive Gift Co.is a women-owned business started by Michell Ratcliffe that provides gift-giving services. [Read more]
Views
June 5 FHFA Hearing Is Key Opportunity For Community Organizations To Influence Fannie Mae And Freddie Mac To Promote The Just Economy
By Josh Silver
The rigor and effectiveness of the equitable housing finance plans may depend on community input. Community groups should therefore ask hard questions at the upcoming June 5 hearing – in particular about whether each action has meaningful quantifiable goals that are improvements from past GSE purchasing volume and whether they increase lending to underserved populations in specific geographical areas. [Read more]
The CFPB Won Big At The Supreme Court — But The Fight Over Small Business Lending Discrimination Is Just Beginning
By Manan Shah
The underrepresentation of people of color in small business ownership is directly tied to racial wealth inequality. Personal savings were the most common source of start-up capital in a recent Small Business Administration (SBA) survey of entrepreneurs – and given the vast racial wealth divide in the US, non-White people are far less likely to have the money to act upon their business ideas. Recent Federal Reserve estimates suggest the median wealth is $44,900 for Black households and $61,600 for Latino households, while the median wealth is $285,000 for White households. [Read more]
NCRC Statement On Supreme Court CFPB Decision
By NCRC
“It’s always nice to see the courts get something right – especially in this tawdry circumstance where payday loan predators sought to wriggle out of basic oversight using absurd distortions of law and fact. But this vindication of the CFPB’s existence and funding structure is especially meaningful because of its positive repercussions all across our economy." [Read more]
Events
FHFA Public Listening Session On Enterprises’ Equitable Housing Finance Plans June 5, 2 pm ET
Join NCRC’s Senior Fellow Josh Silver at the Federal Housing Finance Agency’s (FHFA) public listening session to soilict interim feedback to assist Fannie Mae and Freddie Mac (the Enterprises) in implementing their current Equitable Housing Finance Plans (EHFPs) and preparing the 2025-2027 plans. This is the final year of this 3-Year plan and FHFA is looking to the public for real-world impacts and input through its listening session and Request for Information.[Register here]
NCRC CDF’s Navigating Business Financing Webinar Series: Session 5: Strategies For Successful Loan Applications: From Presentation To Approval June 13, 10 am - 12 pm ET
Join NCRC CDF for an essential webinar where we’ll explain the loan application process and equip you with the tools for success.
This session is your roadmap to loan approval success. Learn how to showcase your business effectively, highlight strengths, and address potential weaknesses with confidence. Don’t miss this opportunity to avoid common pitfalls and gain invaluable insights from industry experts. [Register here]
In The News
Banks Keep Shedding Branches
By Garrett Andrews, Oregon Business
Oregon consistently ranks near the top of states in bank branch closures, and between 2017 and 2021, the Portland metro area saw the most branch closures of any metro area, according to the National Community Reinvestment Coalition. [Read more]
On Our Radar
What Does It Take To Buy A house? Increasingly, Mom And Dad.
By Abha Bhattarai and Federica Cocco, The Washington Post
The share of young home buyers relying on older mortgage co-signers is as high as it has been in at least 30 years, according to a Freddie Mac analysis of its home loans. In 1994, 1.6 percent of first-time home buyers under 35 had a co-borrower age 55 or older. By 2022, after a pandemic-era spike, that figure had more than doubled to 3.7 percent, matching a high set in 2015.[Read more]
‘A Huge Deterrent Effect’: Philly City Council Seeks To Strengthen Anti-Discrimination Law
By Aaron Moselle, WHYY
The ordinance lists “housing assistance programs” as a protected source of income, but does not specifically mention the Housing Choice Voucher Program, a federal rent subsidy offered through the Philadelphia Housing Authority that provides deep discounts to a limited number of residents with low income.[Read More]
Resources
Work And Meet At The Just Economy Club It's aDC hubfor nonprofits and the social sector, around the corner from the White House. Move your team into a private office or host your meetings and events or hang out in the lounge. [Read more]
Learning & Training Hub Register for NCRC's catalog of professional development courses for community development leaders. [Learn more]
Research And Reports We have an extensive library of research and reports that dates back many years! [View all]
Sign And Share The Just Economy Pledge America should not only promise but deliver to all Americans opportunities to build wealth and live well. Sign and share the pledge to help us expand the movement for a Just Economy. [Sign and Share]
Fair Lending Tool Use our interactive tool to produce a report on mortgages, small business lending and bank branch networks for any city, county or metro area in the nation. [Access the tool here]