The Mortgage Good Guys
With the current economic crisis, bankers and mainly subprime lenders have been painted as evil, greedy monsters, but that is using a sledgehammer to crack a nut. According to the CDFI Coalition, there are over 1000 CDFIs around the USA providing financial services to economically distressed communities. These subprime good guys give loans to poor people, strengthen communities, don’t throw poeple out of their homes, and still manage to make money! From small CDFIs (like Clearinghouse CDFI in California) to larger community-development banks (like Chicago’s ShoreBank), these institutions are maintaining very low delinquency rates, in stark comparison to larger (or more commercial) banks which are throwing people out of their homes at a higher rate. I feel it is important that there institutions get as much notice as possible because they, in many ways, are the antidote to the problems that have happened on Wall Street and in the big financial institutions.








