Here's proof, as if you really needed it, that ACORN never encouraged and in fact OPPOSED the trend of subprime lending.  Spread the truth and you shall succeed.

 

http://www.acorn.org/index.php?id=110

The rise in subprime and predatory lending has been most dramatic in minority communities. Subprime lenders account for half, 51 percent, of all refinance loans made in predominantly black neighborhoods, compared to just 9 percent of the refinance loans made in predominantly white neighborhoods.4 Subprime lending, with its higher prices and attendant abuses, is becoming the dominant form of lending in minority communities. But while minority communities suffer from an extreme concentration of higher cost, harmful loans, the problem should not be viewed as one that only affects minorities, since the vast majority of borrowers in subprime loans â€" and thus the vast majority of predatory lending victims â€" are white.

"While not all subprime lenders are predatory, just about all predatory loans are subprime, and the subprime industry is a fertile breeding ground for predatory practices. Subprime loans are intended for people who are unable to obtain a conventional prime loan at the standard bank rate. The loans have higher interest rates to compensate for the potentially greater risk that these borrowers represent. There is a legitimate place for flexible loan products for people whose credit or other circumstances will not permit them to get loans on ‘A’ terms. Predatory lending occurs when loan terms or conditions become abusive or when borrowers who should qualify for credit on better terms are targeted instead for higher cost loans."