FDIC’s Bair Sets to Shatter CRA Myth

Although they were set up originally by the federal government, the GSEs have been private companies for roughly the last forty years. They are traded on the stock market and were on a hunt for profits like much of Wall Street, in part because their executives’ bonuses were linked to earnings per share.

The facts are simple, Bair said. The lending practices that are causing problems today were driven by a desire for more market share and revenue growth, not because the government encouraged certain lending practices. > Read the full item at Housing Wire. > Source: FDIC’s Bair Sets to Shatter CRA "Myth" By KELLY CURRAN.

Nowhere.’ The facts are simple, Bair said. The lending practices that are causing problems today were driven by a desire for more market share and revenue growth, not because the government encouraged certain lending practices." (FDIC’s Bair Sets to Shatter CRA "Myth", by Kelly Curran, HousingWire.com, December 5, 2008.)

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The Federal Deposit Insurance Corporation (FDIC) today issued the lists of institutions scheduled for a Community Reinvestment Act (CRA).

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Bair said a cleaner solution would be to apply risk retention to everyone. "If we could get rid of the QRM, I would," Bair said in remarks to the Council on Foreign Relations. "There is only so much regulation can accomplish. Financial incentives can be so much more powerful.

In-Depth Look - FDIC Broke? CRA Not to Blame for Housing Debacle Discussion in ‘. FDIC s Bair Sets to Shatter CRA Myth : HousingWire || financial news for the mortgage market. The Community Reinvestment Act of 1977 was the next attempt to stop redlining. There were two main aspects of the CRA: First, it required.