Its Time To Say Sayonara To Federally Funded CRA Housing Agencies

Federally Funded CRA Housing Agencies No Longer Serve A Purpose Except To Help Banks Illegally Displace Homeowners

Okay, I'm just going to come out at say it. CRA housing agencies set up under the Community Reinvestment Act are a joke. They need to be tossed onto the ash heap of history. They need to relegated to the same place where subsidies for cotton gin and buggy whip manufacturers now rest.

No, it's not because of the claims that armchair conservatives like to spout on social media websites. Comments that CRAs were the cause of the financial crisis and other such nonsense.

For the record, loans made by CRA housing agencies were not the cause.  Lending guidelines on CRA loans are much stricter than on most conventional lending programs or sub-prime loans. CRA loans also only made up less than 10% of the mortgages written during the housing boom.


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