subcommittee on financial institutions and consumer credit housing community opportunity joint hearing entitled legislative solutions to abusive mortgage lending practices may 24 2005 prepared testimony of martin eakes ceo self help the center for responsible chairman bachus ney ranking member sanders waters thank you testify today address i am union crl is a development lender that creates ownership opportunities low income minority families through homeownership small business financing because we lend people in underserved communities such as minorities immigrants during past 25 years have learned great deal about subprime market where with less than perfect borrow has provided more 3 9 billion almost 45 000 homeowners owners nonprofits across nation unfortunately also witnessed first hand harm done borrowers when lenders are irresponsible unethical while many other organizations focused helping build wealth
