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Maria & Enrique Revulcaba
Oakland, CA

While they were renters, Maria Ruvalcaba wouldn't let her children play outside. "Not ever," she explained, "it wasn't safe."

A better place to raise their children is what started Maria and her husband, Enrique, a janitor at a local country club, down the path toward homeownership.

It was a path full of obstacles, though. Maria went to the neighborhood branch bank where they had an account and was pre-qualified for a loan. But when two minor credit problems totaling about $600-turned up, the loan application was rejected.

"I had always heard they were an equal opportunity lender," Maria said. "They advertised that they give us a chance, but that was not true. They're not willing to work with you."

The Ruvalcabas' experience is increasingly common. With all the consolidation going on in the financial industry, banks are using more rigid credit scoring and automated underwriting systems that have the effect of cutting off credit to lower income and minority borrowers.

Maria insisted on trying again and her Realtor referred her to ACORN Housing Corporation. A loan counselor helped clean up the credit problems and brought the Ruvalcabas' application to CalFed, one of the banks which has a CRA lending agreement with ACORN Housing. Because the Ruvalcabas had successfully completed the loan counseling process, CalFed approved the loan. A grant from the Federal Home Loan Bank of San Francisco helped cover the down payment.

"The new house is beautiful," Maria said. "It only needs a little painting." And the neighborhood is just the opposite of their old one quiet and safe. Maria is planting flowers. Enrique is building a backyard fence. Eight-year-old Erica is excited to have a dog and cat, and 11-year-old Enrique is thrilled with his basketball hoop.

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