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Updated: 43 min 58 sec ago

RE: Investment Policies

Wed, 2018-12-19 13:22
From : Communities>>Open Forum
Hi Karen, Sure thing! kfryatt@wacif.org Much appreciated. ------------------------------ Kevin Fryatt Director of Finance and Administration Washington Area Community Investment Fund kfryatt@wacif.org ------------------------------

RE: Models of interest buy-down programs for affordable homeownership

Wed, 2018-12-19 13:13
From : Communities>>Open Forum
We do not use temporary buydowns, like a 2/1, buydown that lower the rate in the first two years. You generally cannot use the lower rate for qualifying purposes on secondary market loans, which defeats the primary purpose. We do occasionally use borrower funds or downpayment assistance funds to pay up to two bona fide discount points. This would, as you suggest, lower the borrower's payment more than using an equivalent amount of funds as principal reduction. The 2% limit is the maximum allowed [More]

RE: Investment Policies

Wed, 2018-12-19 13:10
From : Communities>>Open Forum
Kevin Please post your email address as I prefer to send directly. We recently redid our investment policies and am happy to share. Karen ------------------------------ Karen Maciorowski Vice President and CFO Community Economic Development Fund Foundation, Inc. Meriden CT (203) 235-2333 x2080 kmaciorowski@cedf.com ------------------------------

Streaming Now - Build a Financial Growth Model for Your CDFI

Wed, 2018-12-19 13:02
From : Communities>>Open Forum
Dear Colleagues - the live recording of our recent webinars is now available for review.  We hope it encourages a dialogue within your organization about how you create a disciplined approach to predict future growth and impact.  Enjoy! ------------------------------ Jason Friedman Principal Friedman Associates 319-341-3556 jasonj@friedmanassociates.net www.friedmanassociates.net ------------------------------

Target Market for LITP Qualification Process

Wed, 2018-12-19 12:40
From : Communities>>Open Forum
Hello CDFI Network, We are ready to make our first CDFI loan and I want to make sure it actually qualifies a creating LITP jobs. Does anyone have a template/process they use for this that they would be willing to share. I want to make sure I dot my i's and cross my t's especially with this. Thank you! Heather Heather Gurewitz Executive Director Economic Development & Financing Corp 175 E. Church St. Ukiah, CA 95482 (707) 234-5705 http://www.edfc.org

RE: Interest Rate Benchmark Question

Wed, 2018-12-19 11:04
From : Communities>>Open Forum
The typical pricing equation is as follows: Price = Cost of funds + OpEx + Loan Loss Provisioning + required return (all calculated as a % of your portfolio) Simple Example: Cost of funds = 2% OpEx (net of subsidies) = 5% Provisioning = 3% Required return = 1% Interest Rate to Clients = 11% OpEx and Provisioning are where a lot of grant support can "buy down" these expense categories to be able to provide clients with a cheaper interest rate than otherwise able to provide. For example, at Wacif, [More]

Investment Policies

Tue, 2018-12-18 15:35
From : Communities>>Open Forum
Hi CDFI Community, I'm currently writing an investment policy for our organization and wondering if anyone has any examples they'd be willing to share. I'm specifically interested in perspective around how organizations view and align their investments with mission, with respect to various types of investments (ie. short-term treasury management type investments that deal with excess liquidity, to longer-term investments, say, in real estate). Do folks follow an ESG type of approach verses a more [More]

Tip Tuesday: @ Mention

Tue, 2018-12-18 12:16
From : Communities>>Open Forum
This Tuesday, we're sharing a discussion feature that allows you to grab the attention of other members in the community. Similar to social media site features, @ Mention is a way for you to get the attention of someone in your network by simply typing the "@" symbol. @ Mention Step by Step: Type the "@" symbol and begin spelling out the member's name A list of potential matches will begin to populate, scroll through the list and click on the correct user  You will know you have been successful [More]

Models of interest buy-down programs for affordable homeownership

Mon, 2018-12-17 14:03
From : Communities>>Open Forum
I was curious to learn about interest rate buy-down programs  CDFIs or HFAs may be doing in the area of affordable homeownership.  I'd be interested in learning about any successful or unsuccessful attempts to apply this concept to homeownership. I recently heard that buying down interest rates could be more efficient dollar-for-dollar than say soft second mortgage or DPA programs and am interested in learning more about this business case. ------------------------------ Regan St Pierre Executive [More]

RE: Liquidity Policy

Mon, 2018-12-17 10:28
From : Communities>>Open Forum
Thanks. This is helpful. Linda Salmonson Economic Development Manager East River Electric Power Cooperative, Inc. Rural Electric Economic Development, Inc. P.O. Box 227, 211 S. Harth Ave. , Madison, SD 57042 Office: 605.256-8015 | Cell: 605.480.1128 Visit us online: www.eastriver.coop Visit us online: www.reedfund.coop

RE: Liquidity Policy

Mon, 2018-12-17 10:24
From : Communities>>Open Forum
Thanks, David.   Linda - below is a link to the Performance Counts publication on CDFI Liquidity and Cash Management.   CDFI Liquidity and Cash Management   ------------------------------ Seth Julyan Senior Vice President, Membership Opportunity Finance Network Philadelphia PA 215-320-4342 ------------------------------

RE: Liquidity Policy

Mon, 2018-12-17 10:08
From : Communities>>Open Forum
Linda, In November 2015, the Performance Counts working group prepared a white paper on Liquidity and Cash Management.  I think you can still get a copy on the OFN website.  If it's not listed there, I am sure if you give them a call they can help you locate a copy. David Provost ------------------------------ David Provost Chief Financial Officer Corporation for Supportive Housing New York NY ------------------------------

Join CBA and the Consumer Financial Protection Bureau for a webinar on Using Credit Scores and Reports as a Financial Coaching Tool!

Fri, 2018-12-14 16:22
From : Communities>>Open Forum
Bureau of Consumer Financial Protection (BCFP) Financial Education Exchange (FinEx) Webinar:  Using Credit Scores and Reports as a Financial Coaching Tool (Part I) Monday, December 17, 2018 (2-3 pm ET) Credit reports and scores can be can be a valuable tool in providing customized financial coaching.  Join us as we hear from Maria Sennett, a guest presenter from the Credit Builders Alliance, who will provide strategies and techniques for integrating credit scores, credit reports and your client's [More]

Community Capital Manager position (Fresno, CA)

Fri, 2018-12-14 14:12
From : Communities>>Open Forum
Dear colleagues: Central Valley Community Foundation (CVCF) mission is to enable stronger communities through effective philanthropy, and we know many of the challenges facing our communities trace their roots to our region's chronically high rates of poverty and unemployment. Economic development and job creation have traditionally lain beyond the reach of charitable activity. However, to pursue its mission effectively, CVCF increasingly believes it must not only address symptoms, but causes - [More]

2019 ESG & SRI Investing Outlook

Fri, 2018-12-14 13:39
From : Communities>>Open Forum
The "2019 Outlook on ESG and SRI Investing" is now online. The award-winning GreenMoney Journal features articles from Amy Domini of Domini Impact Investments, Joe Keefe of Pax World Funds, Katherine Collins of Putnam Investments, Vivek Tanneeru of Matthews Asia and Thomas Schumman of Thomas Schumman Capital – Find these articles, videos and more in the Dec 2018 issue at- https://greenmoneyjournal.com ------------------------------ Cliff Feigenbaum Founder & Managing Editor GreenMoney Journal -- [More]

Files Attached Document
2019 ESG & SRI Investing Outlook

Liquidity Policy

Fri, 2018-12-14 11:25
From : Communities>>Open Forum
I'm looking for samples of liquidity policies for CDFIs that comply with the new accounting/audit regulations Linda Salmonson Economic Development Manager East River Electric Power Cooperative, Inc. Rural Electric Economic Developement, Inc. P.O. Box 227, 211 S. Harth Ave., Madison, SD 57042 Office: 605-256-8015 Cell 605-480-1128 www.eastriver.coop; www.reedfund.coop

Departure of Annie Donovan, CDFI Fund Director

Fri, 2018-12-14 09:24
From : Communities>>Open Forum
Dear Colleagues -  Annie Donovan announced yesterday at the New Markets Tax Credit Coalition annual conference in Washington, D.C., that she will step down as the director of the Community Development Financial Institutions (CDFI) Fund. Donovan said that she will be replaced by Jodie Harris. Harris is the director, small business, community development and housing policy in the Office of Financial Institutions at the U.S. Treasury Department.  Donovan said the change will be made in January.   https://www.novoco.com/news/donovan-step-down-cdfi-fund-harris-be-new-director [More]

RE: E-Signature Capability on Fillable, Online Loan Applications

Thu, 2018-12-13 12:37
From : Communities>>Open Forum
Hello - For organizations looking to collect a signature on the app itself, we see a lot of them using Form Assembly. You need to step-up to the second tier (Premier) for electronic signatures: https://www.formassembly.com/pricing/. Though, nonprofit discount brings the price down quite significantly (about 50%). Key consideration is that it be compliant with the requirements of the E-Sign Act (lot more about that here: https://help.formassembly.com/help/493602-e-signature). Live example here from [More]

RE: E-Signature Capability on Fillable, Online Loan Applications

Thu, 2018-12-13 10:34
From : Communities>>Open Forum
We currently use DocuSign to provide Borrowers with an electronic application.  They have a really easy to use program and it is extremely friendly for all devices.  DocuSign is the only program that we are able to use for SBA applications as it has the required user verifications. We have also utilized RightSignature in the past.  The benefit of this program was that we were able to embed our Loan Application on our website and Borrowers could just download it when they were ready.  However, it [More]

New Date: Your Tool to Forecast CDFI Growth and Impact!

Wed, 2018-12-12 18:19
From : Communities>>Open Forum
Webinar: Your Tool to Forecast CDFI Growth and Impact! Nearly 100 CDFIs joined us on the 5th to learn about a tool you can use to develop predictions for growth and impact.  So, we're offering it again!  Dec 18, 2018 at 1:00 PM CST. Register here . After registering, you will receive a confirmation email containing information about joining the webinar. Calling all strategic thinkers, finance gurus and other mission-driven allies! A fundamental objective of a CDFI is to develop a plan for growth, [More]

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