Affordable Housing & High Returns: How RBC’s Stable-Prepay Mortgage Portfolios Deliver Alpha and Community Wealth

Episode notes

In this episode, I talk with Ron Homer - Chief Strategist for Impact Investing at RBC Global Asset Management, and one of the earliest architects of community development investing in the United States. Ron’s perspective was shaped in Bedford-Stuyvesant, where he watched a thriving neighborhood decline not because of its people but because mortgage support and investment disappeared. That experience set him on a five-decade mission to help redirect capital back into places that had been overlooked. He went from banking in Boston to co-founding Access Capital Strategies, where he flipped mortgage-backed securities into something that actually supported low- and moderate-income communities. In 1997, he co-founded Access Capital Strategies with the goal of creating market-grade, fixed-income products that were community-aligned. His idea was to use the same mortgage-backed security structure that powered Wall Street, but build it around loans made to low- and moderate-income borrowers. The model showed that you could structure institutional-grade portfolios that delivered both financial performance and community impact.

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