The struggle to establish a vibrant secondary market for community development loans
Securitization of loans and their sale to long-term investors has revolutionized many areas of finance: real estate, autos, consumer credit; but despite many efforts, it has not taken hold in community development financing. The obstacles to creating a secondary market for community development loans are similar to obstacles other markets faced: lack of data, standardization of documents and loan process, and loan volume. Other markets have managed to overcome these obstacles. Yet despite recent advances, such as Community Reinvestment Fund’s recent issuing of rated securities in November 2004 and May 2006, the goal of a vibrant secondary market for community development loans seems almost as far away today as it did nearly a decade ago.
Volume (Year): (2006)
Issue (Month): 1 ()
|Contact details of provider:|| Postal: |
Phone: (415) 974-2000
Fax: (415) 974-3333
Web page: http://www.frbsf.org/
More information through EDIRC
|Order Information:|| Email: |
When requesting a correction, please mention this item's handle: RePEc:fip:fedfcr:y:2006:p:17-34:n:v.2no.1. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Noah Pollaczek)
If references are entirely missing, you can add them using this form.