CRA with the Shared Responsibility Mortgage

PartnerOwn’s Shared Responsibility Mortgage℠ has been highlighted by the Federal Reserve Bank of Chicago’s ProfitWise publication as an innovative tool to help banks fulfill their Community Reinvestment Act (CRA) guidelines.

pnv-issue1-2016-web-cover-jpgThe article broadly speaks about new product innovations like the SRM that are responsive to local market conditions as strengthening an institution’s CRA examination performance:

“Community development, lending, qualified investments, and services that are responsive to local needs and have not been routinely provided by other private institutions can be heavily weighted – both positively and negatively during examinations. The products and strategies discussed in this article, while not (yet) marketed or proven at scale (with one exception), may represent opportunities for banks to meet CRA obligations in the communities they serve, as well as important innovations to reduce defaults.

ProfitWise then introduces the SRM℠ specifically and highlights its relevance for lenders:

SRMs℠ would also provide benefits to the bank or institution that holds the mortgage, such as helping expand lending to new potential borrowers who are concerned about house price volatility, and potentially helping lenders earn CRA credit for serving LMI [low-to-moderate income] communities.

PartnerOwn is currently establishing a fund to help banks use the SRM℠ as a tool for CRA innovation.  If your institution is interested in using the SRM℠ for CRA, please contact us at

Thank you,

Team PartnerOwn