Community and Economic Development Loans: Securitization Faces Significant Barriers
GAO-04-21
Published: Oct 17, 2003. Publicly Released: Oct 17, 2003.
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Highlights
Community economic development (CED) lenders serve the credit needs of nonconventional borrowers and economically distressed areas across the nation. However, little is known about this industry, its ability to tap private sources of capital, and loan performance and volume in the industry. To provide information that would be helpful in considering the role that the federal government might play in facilitating the creation of a secondary market for CED loans, GAO was asked among other items to (1) determine the barriers to more widely securitizing CED loans and (2) identify options for overcoming these barriers and the likely implications of these options.
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Topics
Economic developmentFederal fundsFunds managementLending institutionsCommunity developmentEconomically depressed areasStrategic planningSmall businessMortgage programsMortgage credit