Unveiling the strategy behind a financial-services powerhouse

  • Creators of mortgage business sought government certification as a community lender
  • Presented themselves as stewards of the disenfranchised
  • Planned to use Community Development Financial Institution (CDFI) designation to launch their firm
  • Goal was to become one of the nation’s top 10 lenders within five years

Factuality Level: 3
Justification: The article contains some repetitive information and includes some biased language, such as referring to the creators of the mortgage business as ‘stewards of the disenfranchised’. Additionally, the article includes some personal perspectives and opinions presented as facts, such as the statement that the business will be the ‘gold standard of community development’. Overall, the article lacks objectivity and presents a biased viewpoint.

Noise Level: 3
Justification: The article contains some repetitive information and exaggerated reporting. It also reinforces the popular narrative of the Trump administration without questioning it. However, it does provide some evidence and examples to support its claims.

Financial Relevance: Yes
Financial Markets Impacted: The article does not provide any information about specific financial markets or companies impacted.

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article discusses the creators of a mortgage business seeking government certification as a community lender. While it pertains to financial topics, there is no mention of any extreme events or their impact.

Public Companies:
Private Companies: undefined
Key People: Faith Bautista (nonprofit leader)

The creators of a mortgage business, later known as the Change Company, strategically positioned themselves as champions of the disenfranchised while seeking government certification as a community lender. Privately, they planned to leverage the Community Development Financial Institution (CDFI) designation to propel their firm to the top. Their goal was to become one of the nation’s top 10 lenders within five years.