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The Equity Certification will be issued to lenders and nonprofits that provide SPCPs, Down Payment Assistance, and other loans or assistance programs with enhanced access to credit for underserved communities and protected classes as provided for by the Equal Credit Opportunity Act.
Equity certification increases transparency while broadening awareness of the Equal Credit Opportunity Act’s provision for Special Purpose Credit Programs (SPCP). The Equity certification helps consumers instantly identify that a program is verified while making it easier for lenders to market their SPCPs.
SPCPs are designed to meet the specific needs of underserved populations with programs that enhance the likelihood of being approved for credit. Equity certified programs in the national database will be searchable with live links for consumers.
We seek the to close the racial, ethnic, gender, and other wealth gaps in America. While the gap is greatest in homeownership for Black, Indigenous, and People of Color (BIPOC) communities, wealth gaps exist across a range of underserved populations seeking equitable access to credit. Equity certification helps these consumers find small business and home mortgage programs.
Jodi Pincoult
We envision a future without wealth gaps for BIPOC, women, LGBTQ, and other underserved people where the American Dream of home and business ownership thrives.
HCA is a national 501(c)3 Nonprofit Organization and Subject Matter Experts in Special Purpose Credit Programs & Affordable Lending Solutions.
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