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Journal Article
Looking back and moving forward: changes in the affordable multifamily mortgage industry
A look back at some of the lessons learned from CCRC?s 23 year history and new lessons for the affordable multifamily mortgage industry today.
Journal Article
Case study: Selling affordable housing loans in the secondary market
The California Community Reinvestment Corporation (CCRC) is a nonprofit Community Development Financial Institution (CDFI) formed by a consortium of California commercial banks in 1989 to provide permanent mortgages for affordable housing projects. Historically, CCRC has funded its mortgage program through a credit line provided by its fifty member banks, but it has bumped up against its credit limit as it has increased loan production. One solution to this problem has been selling loans to free up credit-line availability for new loans. CCRC had bad experiences with early efforts to sell ...