The report must consider community lenders and barriers to small-dollar lending
What the document says“(1) data and other analyses regarding the effect of the approaches to loan originator compensation described in subsection (b) on the availability of small-dollar mortgage loans; and (2) an analysis and a discussion regarding potential barriers to small-dollar mortgage lending.”
The report must include data and analysis on how the ways of paying loan originators affect the availability of small-dollar mortgage loans, and an analysis of the potential barriers to that lending. In preparing it, the Secretary must coordinate with federal agencies that regulate federally backed small-dollar mortgages and consult the Director of the Community Development Financial Institutions Fund, giving due consideration to how community development financial institutions pay their loan originators.
What the document actually says“(1) data and other analyses regarding the effect of the approaches to loan originator compensation described in subsection (b) on the availability of small-dollar mortgage loans; and (2) an analysis and a discussion regarding potential barriers to small-dollar mortgage lending.”
The report must show what the ways of paying do to small loans. It must say whether fewer of them get made. It must also look at what else stands in the way.
Small loans earn a small fee for the person who arranges them. That may be why few are made. The report must also cover community lenders.
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