The CRA was enacted in 1977, and since then, has been amended up to 4 times. There is a general consensus on all sides (the banking industry and the regulators) that the regulations have not kept up with modernizations in the banking industry, and are therefore, outdated and in need of overhauling. The federal banking agencies are currently making efforts geared towards such an overhaul of the regulations - with the OCC issuing a proposal requesting input from stakeholders. The Mortgage Bankers Association supports the overhaul, and will work with the federal banking agencies throughout the process. Listen as Christy discusses the Community Reinvestment Act (CRA) on today's show.

Host: Mike Eshelman, CMB - Head of Consumer Finance (Jornaya)

Guest: Christy Soukhamneut, CMB - Chief of Staff/Director of Mortgage Strategic Initiatives (Flagstar Bank)