NCRC and Urban Financial of America Announce Reverse Mortgage Fair Lending Collaboration

Washington, DC – Today, the National Community Reinvestment Coalition (NCRC) and Urban Financial of America, LLC (UFA), one of the largest reverse mortgage lenders in the country, announced a collaboration to focus on fair lending to older adults. NCRC will serve in an advisory role to assist UFA with providing Home Equity Conversion Mortgages (HECMs) to qualified borrowers age 62 and older.

“NCRC looks forward to working with UFA to ensure older adults have fair access to reverse mortgage products,” said NCRC President and CEO John Taylor. “Our hope is that in the future, other reverse mortgage lenders will look to UFA as a guiding example of responsible and fair lending.”

UFA President Steve McClellan said: “This NCRC collaboration is an important element to helping all seniors age in place successfully. We look forward to working with the NCRC in helping us pilot programs in under-resourced communities. Our partnership with the NCRC helps to reinforce our corecorporate principles of client focus, integrity, teamwork, innovation, respect for each individual and responsible citizenship.”

About the National Community Reinvestment Coalition (NCRC): 

The National Community Reinvestment Coalition is an association of more than 600 community-based organizations that promote access to basic banking services, including credit and savings, to create and sustain affordable housing, job development and vibrant communities for America’s working families.

Print Friendly, PDF & Email

Redlining and Neighborhood Health

Before the pandemic devastated minority communities, banks and government officials starved them of capital.

Lower-income and minority neighborhoods that were intentionally cut off from lending and investment decades ago today suffer not only from reduced wealth and greater poverty, but from lower life expectancy and higher prevalence of chronic diseases that are risk factors for poor outcomes from COVID-19, a new study shows.

The new study, from the National Community Reinvestment Coalition (NCRC) with researchers from the University of Wisconsin–Milwaukee Joseph J. Zilber School of Public Health and the University of Richmond’s Digital Scholarship Lab, compared 1930’s maps of government-sanctioned lending discrimination zones with current census and public health data.

Table of Content

  • Executive Summary
  • Introduction
  • Redlining, the HOLC Maps and Segregation
  • Segregation, Public Health and COVID-19
  • Methods
  • Results
  • Discussion
  • Conclusion and Policy Recommendations
  • Citations
  • Appendix

Complete the form to download the full report: