Pilot Offers CRA Loans for LA Blacks

E-Loan, NetNoir--The Black Network, and the Los Angeles Urban League have announced a pilot program aimed at promoting home ownership and computer access among African Americans in Los Angeles.The program, Black Homes Online, will help people take advantage of Community Reinvestment Act mortgage loans. E-Loan, an online mortgage broker, has set up a CRA mortgage center at the pilot's website (http://www.blackhomes.com). People who apply for and obtain a CRA loan through the site will receive a free IBM computer and free Internet access for a year through NetNoir. Those who do not have access to a computer can take advantage of the program by using any one of three centers provided by the Los Angeles Urban League for program applicants. E-Loan's website address is http://www.eloan.com.