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Journal Article
Turning uncertainty into risk: why data are the key to greater investment
Proceedings of the Conference on the Secondary Market for Community Development Loans. <p> The role of data dominated much of the discussion at the Federal Reserve?s Secondary Market for Community Development Loans Conference. In our discussions of how to attract new investors to the field, the group reviewed all the things that investors are looking for: volume, geographic diversity, homogeneous assets, etc. But what became clear was that, above all, investors need data. Any investment is possible only if the investor has the necessary information?the data?to decide whether to make an ...
Journal Article
Community development financial expertise put in service of neighborhood stabilization
As we began 2009, communities across the United States faced an unprecedented crisis brought about by millions of mortgage foreclosures and chaos in the capital markets. More than one million homes stand vacant and home values have fallen in every major metropolitan area over the past year. Several icons of the capital markets?Lehman Brothers, Merrill Lynch, and Wachovia Bank?no longer exist, and others, including Fannie Mae and Freddie Mac, are deeply wounded.