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Fed Develops Resource Guide for MCP Project

Saturday, April 1, 2000

Purchasing a home is a complex process by nature. Along the way, a prospective home-buyer may face obstacles that can impede the purchase of a home.

The Mortgage Credit Partnership (MCP) project is designed to broaden home ownership opportunities by assembling representatives of the insurance, real estate, appraisal and lending industries. Together, these professionals examine the home buying process in their area to identify where barriers exist and recommend remedies. The ultimate goal is to ensure fair and consistent treatment, regardless of race, gender or ethnicity.

The St. Louis Fed's Community Affairs Department has prepared an MCP Resource Guide based on the experiences of the seven cities that have conducted an MCP project: Boston, Chicago, Cleveland, Cincinnati, New York, San Francisco and St. Louis. The free guide outlines a step-by-step process for duplicating the MCP model—from how to develop a project plan and recruit industry professionals, to guidance on forming task groups and implementing recommendations. The guide also contains project checklists, sample letters and invitations and suggested meeting formats.

To order the MCP Resource Guide, call Diana Zahner at (314) 444-8761. For more information about leading or participating in a Mortgage Credit Partnership, contact Glenda Wilson at (314) 444-8317.