The North Carolina Coalition for Responsible Lending is an organization committed to protecting homeownership and family wealth. The Coalition is an alliance of North Carolinian organizations dedicated to the following principles of responsible lending:
- Borrower Choice: Borrowers must not be trapped in a bad loan because of predatory lending practices, up-front charges, or penalties for repaying a loan.
- Fees and Refinancings: High loan fees and refinancings must not strip family wealth or home equity, or cause homeowners to lose their homes.
- Disclosure: All brokers and lenders must provide full, up-front disclosure of all fees and compensation.
- Competition: Loan markets must remain flexible and competitive enough to keep capital flowing to people who are in need and able to repay.
- Enforcement: The agencies responsible for regulating and protecting NC consumers must have the resources, authority and mandate to protect all North Carolinians.
The Coalition represents over 3 million North Carolinians through more than 200 organizations, including:
- Reinvestment Partners
- El Pueblo, Inc.
- Land Loss Prevention Project
- Latino Community Credit Union
- National Association of Social Workers – NC Chapter
- North Carolina Council of Churches
- North Carolina Housing Finance Agency
- NC Institute for Minority Economic Development
- NC Justice Center
- The Support Center
- NC State AFL-CIO
- NC Association of Community Development Corporations
- North Carolina Housing Coalition
- Self-Help Credit Union
- State Employees Credit Union
Mission & History
Before CRL began working on national campaigns or even existed for that matter, partners and allies in North Carolina achieved success working together against predatory lending. The Coalition formed in response to the large number of abusive home loans that a number of lenders and housing groups witnessed in North Carolina in the mid-to-late 1990s. We found that the combination of the explosive growth in subprime lending, the paucity of regulation of the industry, and the lack of financial sophistication of large numbers of subprime borrowers created an environment ripe for abuse.
In 1999, the NC Coalition for Responsible Lending spearheaded an effort that helped pass the NC Predatory Lending Law. The bill was supported by associations representing the state’s largest banks, community banks, mortgage bankers, credit unions, mortgage brokers, Realtors, NAACP, consumers, and community development/housing groups.
The NC Predatory Lending Law passed in 1999 with overwhelming support of the General Assembly. The bill was written in collaboration with industry groups such as the N.C. Bankers Association and the N.C. Association of Mortgage Professionals. We continue to accomplish together, what none of us could acting alone.