Changes in the mortgage industry challenge the activities of community-based organizations, and those groups must improve their lending activities because of the changes, according to a recent study by the Joint Center for Housing Studies of Harvard University. The study found that new low down payment products and an automated mortgage delivery system have contributed to a dramatic expansion of lending in the same low-income, low-wealth neighborhoods once victimized by mortgage "redlining." In many cases, however, the new delivery system also has created a dual market structure with expanded access to prime mortgages on favorable terms but with lower-income and minority communities served by a different mix of products. "Despite the overall increase in access to mortgage capital, a ra...
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