Solutions

Using Special Purpose Credit Programs to Expand Equality

May 16, 2022

Special Purpose Credit Programs (SPCPs) are made available by the Equal Credit Opportunity Act.
Building more affordable housing is important, but much more must be done to advance credit equity.
Our markets are structurally unfair and we need intentionality to effectively address the racial wealth and homeownership gaps.
SPCPs are an important tool in expanding fair access to credit, particularly for consumers and communities impacted by discrimination.
SPCPs fulfill the letter and spirit of our nation’s fair housing and lending laws.

Click here to learn more.

Keep Reading

The Impact of the COVID-19 Pandemic on Homeownership in Baltimore

Homeownership declined in Baltimore during the COVID-19 pandemic, exacerbating long standing issues that have fallen particularly hard on Black communities, a new report by several local and national nonprofit organizations...

Protecting Homeownership from the Impact of COVID-19

This report, co-authored by the National Community Stabilization Trust, the National Association of Realtors, and the National Fair Housing Alliance, provides an overview of solutions to protecting homeowners and homeownership from the devastating impacts of the COVID-19 pandemic.

Identifying Bias and Barriers, Promoting Equity: An Analysis of the USPAP Standards and Appraiser Qualifications Criteria

This study, commissioned by the Appraisal Subcommittee of the Federal Financial Institutions Examination Council, provides a detailed analysis of the USPAP Standards and Appraiser Qualifications Criteria.

Using Special Purpose Credit Programs to Expand Equality

Special Purpose Credit Programs were first made allowable by the Equal Credit Opportunity Act of 1974. Learn more about these programs and how they can expand equality in financial lending.

First Generation: Criteria for a Targeted Down Payment Assistance Program

This report from the National Fair Housing Alliance and Center for Responsible Lending details the criteria for creating a targeted homebuyer down payment assistance program for first-generation homebuyers.

Closing the Homeownership Gap Will Require Rooting Systemic Racism Out of Mortgage Underwriting

Closing the racial homeownership gap will require more than eradicating discriminatory lending practices; it will require removing systemic racism from mortgage underwriting.