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Episode 65: CRA Tips: Revisiting the Fundamentals: A CommunityDevelopment Loan Primer [link] This episode will lay the foundation for communitydevelopment loans as it relates to your CRA program. Communitydevelopment loans must have a primary purpose of communitydevelopment.
Episode 15: CommunityDevelopment Loans. link] Regulators are currently revisiting the way they define a communitydevelopment loan (CDL) through CRA modernization efforts. Here’s where you should start: The post Episode 15: CommunityDevelopment Loans… How Much Is Enough? How Much Is Enough?
Communitydevelopment lending is a critical tool for driving impact and building stronger communities, but it requires a deep understanding of regulatory compliance and risk management. Commercial lenders are entrenched in local communities customizing financing options to help businesses manage cash flow and operational risk.
This joint effort represents the first major revisions to CRA regulations since 1995. Through the CRA, the Agencies encourage banks—from smaller community and regional banks to international conglomerates with billions in assets— to help meet the credit needs of communities , especially including low- and moderate-income neighborhoods.
As New York City faces its worst housing crisis in over 50 years, policymakers are looking to connect affordable housing developers with a range of institutional stakeholders from hospitals to faith-based organizations to find ways to increase the supply of homes.
[link] In a recent CRA fundamentals office hours session, we discussed current practices around communitydevelopment services. One bank professional asked why, at her last bank, they counted the number of hours of qualified communitydevelopment services, but at her current bank, they count both the number of occurrences and hours.
Your bank is steadfast in meeting the credit needs of all businesses both large and small in your communities. Your job is making sure you capture and identify all eligible communitydevelopment activities going into a regulatory exam. But what about your regulator? This is the basis for the regulation.
of CommunityDevelopment Fund Advisors, one of our pioneers of the Community Reinvestment Act (CRA) to share a high-level overview of CRA Reform now that the Office of the Comptroller of the Currency (OCC) released its final rule.
link] In the past, regulations narrowly defined the provision of financial services. To qualify a communitydevelopment service, it has to have a primary purpose of communitydevelopment, be offered on behalf of the bank, and must be related to the provision of financial services.
Are you looking to take your communitydevelopment services to the next level? Episode 44: Economic Development as a Key to CommunityDevelopment Services. Episode 42: I Bet You Are Underreporting Your CommunityDevelopment Loans… Most Banks Are Too! Episode 38: Haven’t Developed a CRA Plan Yet?
In any case, most banks will have at least one more CRA examination before the new finalized regulations are implemented, and it’s important to put the bank ’ s best face forward. Maximize the Reporting of CommunityDevelopment Activities; 2. Maximize the Reporting of CommunityDevelopment Activities.
This means you’ll likely go through at least one more CRA exam under the current regulations. Communitydevelopment services, loans, investments, and maybe even deposits! Heck, you barely have the budget to track what’s necessary now, much less what you’ll have to do when the new CRA regulations take effect.
Are you one of the 95 percent of banks that are underreporting communitydevelopment loans under the Community Reinvestment Act (CRA)? SHOWNOTES: CommunityDevelopment Loans Demystified with Krista Shonk, VP & Senior Counsel, Regulatory Compliance and Policy, Fair & Responsible Banking, ABA.
In recent years, the System has been subject to growing criticism that it has been inadequately supporting the housing and communitydevelopment mission given to it by Congress. Part 1 of this two-part paper describes this more fully. This included nationwide listening sessions and other opportunities for public input.
I wrote about it here: -- " Framework of characteristics that support successful communitydevelopment in association with the development of professional sports facilities " (2021) in the process, updating my evaluative framework for siting and building arenas and stadiums. deal for Larry H.
How can we leverage programs and services provided by social service agencies, federal health clinics and community action agencies to meet the foundational needs of the most economically vulnerable? How can we partner with CDFIs to extend the traditional boundaries of capital where it is most needed?
You’ve been charged with meeting the credit needs of your community, which means tracking, managing, and reporting your bank’s communitydevelopment data, not to mention finding and pursuing CD loans, services, and investments. Are you ready to master the art of identifying communitydevelopment loans?
From the article: The District is playing hardball in a dispute with the owner of Nationals Park, effectively threatening to shut down the stadium if Events DC fails to develop the commercial and retail space it promised before the ballpark’s 2008 opening. The Washington Post reports (" D.C. The Washington Post reports (" D.C.
The resulting report , which focused primarily on how these homes were purchased, illustrated the complexity involved in consumer awareness of options and understanding of the process, varying finance options, and the context of different rules and regulations at all levels of government.
At the height of the foreclosure crisis post-2008, a group of elected officials, communitydevelopment practitioners, and lawyers came together to craft a strategy to respond to the hemorrhaging real estate market in Ohio. As a result, many of these lots remain in municipal land banks for years.
2 The report came about at a time when the FHLBs have been increasingly criticized for neglecting their housing and communitydevelopment mission and instead using their subsidies and privileges to benefit their financial institution owners and executives. mortgage originations. .” mortgage originations.
Here are some things to consider: Collaborate with different business units to ensure you’re meeting the credit needs of the community. Engage key internal bank stakeholders to maximize the bank’s communitydevelopment services, loans, and investments. Who’s your regulator? Acknowledge where you are in the CRA exam cycle.
Here are some things to consider: Collaborate with different business units to ensure you’re meeting the credit needs of the community. . Engage key internal bank stakeholders to maximize the bank’s communitydevelopment services, loans, and investments. Who’s your regulator? Where are you in the exam cycle?
You can then develop strategies to leverage those opportunities to maximize positive outcomes of the project while simultaneously mitigating risk. Using a participatory social research approach often employed in development contexts, SIA can identify deeper, richer information about the community than a traditional stakeholder analysis.
160A-492 authorizes a county to appropriate funds for “human relations, community action, and manpower development programs.” 160D-1311(a)(2) is more specifically limited in scope to programs related to housing and communitydevelopment that serve persons of low and moderate income. Additionally, G.S. Note that G.S.
Main Street commercial district revitalization practice grew out of HP and a desire to save "old buildings" in the face of the development of shopping centers, chain retail, and broken microeconomies. Very soon into my writing, before the blog, a bunch of DC cultural institutions failed, so this became an ongoing topic.
But as concerns about gentrification and displacement in urban areas have become more widespread, supply skepticism has expanded from the traditional anti-development constituencies to renters and social advocates fighting for equitable neighborhood planning. “We need all hands on deck producing all housing.”
The issue is addressed in two notices published by HUD on June 20, 2019, related to duplication of benefits for CommunityDevelopment Block Grants – Disaster Recovery ( CDBG-DR ): 84 FR 28836 (June 2019 Duplication of Benefits Notice, referred to herein as the “ DOB Notice ”) and 84 FR 28848 (June 2019 Duplication of Benefits Implementation Notice).
While restrictive zoning is not the only reason housing costs are high in the United States, it does play a major role in limiting housing development, especially in parts of the country with high paying jobs in fast-growing industries. It also loosened environmental review requirements for local planning departments. .
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