CCM launched its flagship fund, the CRA Qualified Investment Fund, in 1999, to help banks meet the investment test requirements of the CRA. The initial goal of the CRA was to reverse the effects of redlining and decades of disinvestment, by strengthening existing chartering laws that required banks to sufficiently address the banking needs of all the members of the communities they served. For over 21 years, CCM has purchased hundreds of thousands of customized agency mortgage-backed security (MBS) investments benefiting LMI borrowers, many of which are minority borrowers, including Black individuals and families.
For millions, owning a home remains at the heart of the American dream. Most American renters — 72% — say they want to buy a home at some point in the future instead of continuing to rent, accordi
