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Policy/Action Description of Activity Accomplishments <br />Responsible City staff, Department or I I in FY 2016-17 <br />Policy 6: Support Fair Lending Practices and Access to Credit <br />Following the recession and financial crisis of 2007-08, lenders generally tightened credit requirements, making it more difficult <br />for potential buyers to access loans. Though lending conditions have improved in subsequent years, lending requirements remain <br />more stringent than in the years prior to the recession. Limited -English speakers, in particular, have difficulty securing loans and <br />NMDA data show that African American and Hispanic applicants for home purchase loans experience significantly lower rates of <br />approval than White and Asian applicants. Moreover, this AI finds that many lenders and brokers are resistant to more affordable <br />and accessible loan products offered in conjunction with first-time homebuyeror other government programs, due to their added <br />complexity. As such, the HOME Consortium jurisdictions should continue the following actions to address these needs. <br />Fair Housing Matrix -pg 13 <br />CAPER <br />OMB Control No: 2506-0117 (exp. 06/30/2018) <br />34 <br />