12/9/2010

The Department of Housing and Urban Development said it will look into the National Community Reinvestment Coalition's complaint that lenders have refused to offer mortgages backed by the Federal Housing Administration to qualified borrowers. "By denying access to FHA loans to qualified, creditworthy individuals, without regard for the actual risk posed to the institution, lenders are discouraging the flow of credit and capital into working-class communities," said David Berenbaum, chief program officer at the NCRC.

Full Story:
Bloomberg, Reuters

Related Summaries