COMMITTEE CHARGE

To increase minority home ownership in Portland, by creating loan and underwriting recommendations that will help people of color become home owners.

America's housing and mortgage markets are in the midst of a dramatic transformation. After generations of discrimination and disinvestment, low-income and minority borrowers and neighborhoods have been recast as the growth potential for homeownership and mortgage lending.

In a movement that seems to reconcile socioeconomic equity with the imperatives of profitability in a competitive and turbulent industry, mortgage lending has emerged as a key to revitalizing neighborhoods, opening access to housing markets, and promoting household wealth accumulation. These changes, and favorable employment and interest rate environments, have yielded considerable progress in lending to borrowers and neighborhoods that were traditionally excluded from homeownership. That said, this “transformation” is in progress and challenging work is still ahead if we are to fully realize the social and economic benefits that can be accomplished through expanded homeownership opportunities.

This committee will work between January 2007 and February 2007 to develop recommendations to be presented to the Steering Committee for vetting and action.

Please review the Loan and underwriting plan.  The original version of the document, in addition to others submitted to the Steering Committee, can be found in the Steering Committee Materials.
Review the Loans and Underwriting framing document.

Review the Loans and Underwriting framing document.

AVAILABLE CONTENT COMMITTEES

Outreach and Marketing       Education and Counseling

Loan Process and Underwriting Affordability and Wealth Creation