Well you have reality and then there is your version...
CRA had huge consequences...
Explain.
CRA is the root cause for the Housing Bubble / Mortgage Meltdown, period!
Ultimately it led to DPA FHA loans, then we created Sub Prime Hybrids, like ZERO DOWN 2/28 ARM's and 3/27 ARM's with no MI that accepted 560+ FICO's...
Millions purchased under these programs for 11 years, no risk no gain, these where the beginning of the end, we are just starting to come out of that tail spin...
Now today and for a very long time, USDA loans are Federally Funded / Insured loans with your tax payer funding, and guess what, they are ZERO DOWN NO MI LOANS...
What a deal, $500 dollars and you can own your own home...
They did it in the '80's and we just came out of it again, how much you wanta bet they will do it again????