Yo Daddy!!
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- Joined
- Sep 28, 2023
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- 812
And I'm certain a young Chicago attorney working for a non profit in the 1990s helped apply pressure to local mortgage lenders to relax their loan standards to achieve greater Black home ownership and eventually the loan underwriting standards led to the same outcome, Mark.Efforts to increase home ownership among blacks motivated politicians to pass the Community Reinvestment Modernization Act of 2000 which essentially rewrote standards on credit requirements for home mortgage lending. That well-intentioned plan ended up causing the worldwide financial collapse of 2008.