"In recent years, special purpose credit programs (SPCPs) have grown in popularity as a way for policymakers to allow lenders to offer credit to borrowers of protected classes. These programs can be people based or place based, offering special purpose credit to individual borrowers or to areas where many of them live, respectively. When implemented effectively, SPCPs can build wealth, reduce housing segregation, and help close the racial homeownership gap.

But how can lenders ensure that SPCPs help the households who need it most? In partnership with the National Fair Housing Alliance, the Urban Institute created this resource to help lenders document the need for SPCPs. This tool will help lenders with the first steps of the process outlined by guidance from the Consumer Financial Protection Bureau (CFPB), particularly assessing the need for an SPCP through a broad market analysis.

This tool offers current and historical market-specific data to make the case for SPCPs serving households of color; an interactive Excel file based on market-specific data to assess place-based versus people-based options that can be useful to program design, targeting, and goal setting; and documentation supporting the written plan."