State Community Reinvestment Act (CRA) Legislation

Regulators and legislators are considering options to extend the reach of the Community Reinvestment Act (CRA) to independent mortgage banks (IMBs). These policy options represent a solution in search of a problem and do not recognize the incompatibility of the CRA with the business models of IMBs and their historical lending activities. Applying the Community Reinvestment Act to IMBs would be an ineffective and misguided policy choice that MBA opposes. 

Independent Mortgage Banks:

  • Do not have deposits to reinvest
  • Do not have access to direct government support
  • Already engage in sustainable lending in low- to moderate-income (LMI) communities
  • Are subject to robust oversight and supervision in every state they operate as well as from federal regulators

For more information about IMBs, please download:

Selected State HMDA Data Sheets of IMB Lending to LMI Borrowers

Data Sheet Available for Download

Click State to Download Datasheet

Related State CRA News


Key State CRA Statutes and Regulations for IMBs

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