Community Development Working Papers
Working papers provide in-depth analysis of emerging community development issues from practitioners and scholars.
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The Struggle to Establish a Vibrant Secondary Market for Community Development Loans
David J. Erickson, Federal Reserve Bank of San Francisco
Securitization of loans and their sale to long-term investors has revolutionized many areas of finance: real estate, autos, consumer credit; but despite many efforts, it has not taken hold in community development financing. The obstacles to creating a secondary market for community development loans are similar to obstacles other markets faced: lack of data, standardization […]