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Each year at What Matters, TCF
invests $5,000 in a local organization
actively engaging in the What Matters
theme.

This year, five finalists were chosen
from among the applicants and each
was asked to produce a 3-minute
video showing how they used
innovation to address our region’s
growth and diversity.

The community voted on-line and a
winner was chosen from more than
41,000 votes! TCF will announce the
winner on May 5.

Many thanks to those of you who
cast your vote for CRANC!
CRA-NC is one of five
Finalists for the Triangle
Community Foundation's
"What Matters" award.
July 2008

The GSEs
Shares of Fannie Mae
and Freddie Mac both
tumbled
more than 16
percent on Monday, as
comments by analysts
suggested that new
equity investment may
not be enough to
stabilize the home
mortgage giants.


Implode-O-Meter
A new web page that
documents turmoil at
financial institutions has
quickly made its mark
in the world of finance.
CRA-NC used this site
as a reference in our
2007 study on
mortgage lending in low
income neighborhoods.
April 2008

Ban on 'Instant
Refund Loans
Sought
Tax preparers
charge low-income
filers too much,
groups in Durham,
Philly say
The News & Observer,
Durham NC - April 9,
2008
read article



BofA: We'll End
Some Exotic
Loans
If Bank Can Buy
Countrywide
The Charlotte
Observer, Charlotte NC
- April 23, 2008
read article
May 2008

Ban on 'Instant
Refund Loans
Sought
Tax preparers
charge low-income
filers too much,
groups in Durham,
Philly say
The News & Observer,
Durham NC - April 9,
2008
read article



BofA: We'll End
Some Exotic
Loans
If Bank Can Buy
Countrywide
The Charlotte
Observer, Charlotte NC
- April 23, 2008
read article


Community Reinvestment Association of North Carolina | | Post Office Box 1929 | | Durham, NC 27701 | | (919) 667-1557 tel | | (919) 667-1558 fax
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Community Reinvestment Association of North Carolina
…promoting and protecting community wealth
July 2008, cont

ALT-A
Popular Alt-A lender
IndyMac is laying off
3,800 workers. An
analyst suggests that
the lender will not be
able to avoid
bankruptcy and sets a
target price for the firm
to zero.