Why not use this information fully to promote transparency on multifamily CRA activity?
Historically, purchase mortgages have defaulted less often than refinance mortgages.
Most CRA-qualifying loans in low- and moderate-income areas go to middle- and upper-income borrowers
Banks get credit under the CRA for providing single-family mortgages to low- and moderate-income borrowers.
Black homebuyers buy less expensive first homes with more debt than white homebuyers.
While multifamily lending is smaller than single-family lending, it has an outsize effect in meeting the needs of low- and moderate-income communities.
The National Foreclosure Mitigation Counseling program helped 2.14 million homeowners after the crisis of 2008.