Selling hope, delivering harm 

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This Issue’s Highlight
Spotlight on Efforts to Expand the Subprime Credit Box

The National Association of Realtors (NAR) has been steadfast in its support of subprime loans and undeterred by the loans’ demonstrable harmful impact on working-class families and neighborhoods. The Urban Institute recently added to the subprime chorus with the release of a report entitled Opening the Credit Box. These calls for expanding subprime lending fly in the face of one immutable fact: the safe operation of the US mortgage market over the long term depends on the preponderance of loans being prime—loans with a low risk of default under stress conditions.

This Month’s Features:

 

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