CDFI Connect Community Discussions

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Updated: 47 min 12 sec ago

Microlending training

Mon, 2020-03-09 09:09
From : Communities>>Open Forum
We are interested in hearing about microlender training opportunities. We know of the Economic Development Finance training offered through National Development Council, but would be interested in something that deals more with the nuts and bolts of lending and loan packaging. Something online or located in the Upper Midwest would be great! Any thoughts? Jeff Wig

Tiny Home financing?

Sat, 2020-03-07 06:18
From : Communities>>Open Forum
Hi all,  I did a quick "tiny home" search in the discussion forums and could not find anything.  Right now, we're moving into manufactured housing lending - so this would likely be a ways off before we entertain it (though have been approached about it).  Is anyone working in this space or considering it?  Any leads or resources would be appreciated!   We know several CDFIs do car loans - so it might be similar to that.   We're particularly interested in learning about underwriting policies, closing [More]

RE: Members in the News: Open Table Discussion with BlueHub Loan Fund- Recipient of $75 million in inaugural Sustainability Bond Issuance

Fri, 2020-03-06 16:23
From : Communities>>Open Forum
Hello! Thank you for providing this information. I want to know about the security for the bonds-how is the credit structured, and how is that communicated to investors looking for a return on their investments? Can you provide the disclosure information given to investors regarding the credit? What information about the credit do you give the ratings agency to secure a good credit rating? In addition, were these bonds issued on a tax-exempt basis? If so, how do you deal with ongoing compliance with [More]

CDFI Board Trainings

Fri, 2020-03-06 15:26
From : Communities>>Open Forum
Hi folks. Our board is asking for training opportunities to be a better board. What training do you and your boards find to be valuable trainings? Here's what's on my radar: 1) OFN's Executive Training for CDFI Board Members: we sent one board member a couple years ago and he said it was great. I'm hoping OFN will offer this again in 2020, and hopefully near New England. 2) Sector specific conferences: as we finance cooperatives, our board should understand the broad and diverse utilization of co-ops. [More]

RE: Members in the News: Open Table Discussion with BlueHub Loan Fund- Recipient of $75 million in inaugural Sustainability Bond Issuance

Thu, 2020-03-05 16:23
From : Communities>>Open Forum
Questions many of our members are wondering are: What information did you wish you had before entering the process? and what advise would you give to a CDFI looking to access capital markets?  Thank you again for your participation! ------------------------------ Elizabeth Specht Member Engagement Associate Opportunity Finance Network Washington (202) 618-6100 ------------------------------

RE: Members in the News: Open Table Discussion with BlueHub Loan Fund- Recipient of $75 million in inaugural Sustainability Bond Issuance

Thu, 2020-03-05 11:35
From : Communities>>Open Forum
Thank you so much for highlighting these recent milestones for CPC and BlueHub, Elizabeth, and congratulations to you and your team, Stephanie! We, too, are more than happy to discuss our process with OFN colleagues via this forum or offline. For those who are interested, my colleagues Atalia Howe and Melanie Crocco are presenting about our sustainability bond offering on a webinar TODAY at 1:00 EST , co-hosted by the Sustainability in Affordable Housing Lender Learning Network (SAHLLN) and the CDFI [More]

RE: Small Mortgages Underwriting Policies

Wed, 2020-03-04 11:13
From : Communities>>Open Forum
Hi Noah - I am looking at comparing what we have in place to what your policies are could you please share them with me as well.  Thanks again.  Cornelia ------------------------------ Cornelia Griffin Community Finance Specialist Southwest Georgia United Empowerment Zone, Inc. Cordele GA 229 273 8582 ------------------------------

RE: Members in the News: Open Table Discussion with BlueHub Loan Fund- Recipient of $75 million in inaugural Sustainability Bond Issuance

Wed, 2020-03-04 10:57
From : Communities>>Open Forum
Thank you, Elizabeth! Thank you to OFN for your support. BlueHub is proud of this accomplishment and would love to answer any questions the community may have on our best practices, strategies, etc. ------------------------------ Stephanie Knapp Manager of Communications BlueHub Loan Fund, Inc Boston MA ------------------------------

Members in the News: Open Table Discussion with BlueHub Loan Fund- Recipient of $75 million in inaugural Sustainability Bond Issuance

Wed, 2020-03-04 10:55
From : Communities>>Open Forum
In this week's Member in the News discussion, we would like to highlight the success of Sustainability bonds. Two of our prominent members have received over 200 million in inaugural public bond issuance. The Community Preservation Corporation has raised $150 million through debt offering of Sustainability Bonds, making it the single largest bond sale completed by a CDFI.   We are very excited to share the news that OFN member BlueHub Loan Fund announced on January 31 st , 2020, they have completed [More]

RE: Small Mortgages Underwriting Policies

Wed, 2020-03-04 10:22
From : Communities>>Open Forum
Good Morning Noah, I am interested in looking at your underwriting policies for small mortgages. Thank You Matt ------------------------------ Matthew Ronan Lending Officer Metro Community Development, Inc. Flint MI 8107674622 ------------------------------

RE: Deposit Account Control Agreements (DACA)?

Wed, 2020-03-04 10:15
From : Communities>>Open Forum
Lending against Medicare/Medicaid receivables presents a similar issue - federal regs don't allow lenders to control the healthcare provider's account. Lenders have typically dealt with it by having the depository bank agree to sweep the funds in the provider's account to an account controlled by the lender (which could be at another bank) on a daily basis. ------------------------------ Michael Clain Partner Windels Marx New York NY 2122371035 ------------------------------

RE: Small Mortgages Underwriting Policies

Wed, 2020-03-04 09:10
From : Communities>>Open Forum
Hi Noah, Would you be open to sharing the policies with us also? Thank you so much -- Nita Shah Executive Director nshah@mesopdx.org 503-841-3351 Please do not read, copy, or disseminate this communication unless you are the intended addressee. This e-mail may contain confidential and/or privileged information intended only for the addressee. If you have received this in error, please notify me via return e-mail.

RE: Small Mortgages Underwriting Policies

Tue, 2020-03-03 16:45
From : Communities>>Open Forum
Noah - I am intrigued by your policies since we are in the process of looking at establishing such a small loan program.  If you would be willing to share your policies I would really appreciate it.  Thank you very much.  Rick ------------------------------ Rick Schloemer Community Outreach Coordinator IH Mississippi Valley Credit Union Moline IL (309) 793-6200 ------------------------------

Deposit Account Control Agreements (DACA)?

Tue, 2020-03-03 11:30
From : Communities>>Open Forum
Does anyone have experience using Deposit Account Control Agreements (DACA) to document bridge loans where the repayment source comes from grant receivables? We use DACAs but have run into resistance from banks-too complicated and expensive. Has anyone used an alternative method to control the disbursement of grant award receivables? Lori Glass Chief Lending Officer Lori @baltimoreniif.org Click HERE to attend NIIF Community Investment Update on March 5th, 2020

RE: Small Mortgages Underwriting Policies

Tue, 2020-03-03 10:20
From : Communities>>Open Forum
Noah, we would also be interested in those, as we are building out more small mortgage offerings to meet the needs. Thank you for sharing (tonya.plummer@islandmtn.com) ------------------------------ Tonya Plummer Loan Specialist Island Mountain Development Kalispell MT 4068904911 ------------------------------

RE: Please distribute to CEOs/EDs and Development Staff

Mon, 2020-03-02 15:25
From : Communities>>Open Forum
Thanks David for all you do. Brett ------------------------------ Brett Traver Executive Director Southeast Kentucky Economic Development Corporation Somerset KY (606) 677-6102 ------------------------------

Hiring a full-time Chief Financial Officer in San Francisco!

Mon, 2020-03-02 11:58
From : Communities>>Open Forum
The San Francisco Housing Accelerator Fund (SFHAF) is an innovative nonprofit lender and Community Development Financial Institution (CDFI) that leverages public, private, and philanthropic capital to help the city of San Francisco prevent displacement of low-income and working families and accelerates the production of new affordable housing projects. SFHAF is a public-private partnership and was established in 2017 by the San Francisco Mayor's Office of Housing and Community Development in collaboration [More]

RE: Small Mortgages Underwriting Policies

Mon, 2020-03-02 11:36
From : Communities>>Open Forum
Would you email those to us as well.  The email address is president@bcbcc.org. Thanks you. ------------------------------ Larry Holman President/CEO Beaufort County Black Chamber of Commerce Beaufort SC (843) 986-1102 x1 ------------------------------

Hiring Chief Lending and Program Officer in Maine!

Fri, 2020-02-28 16:15
From : Communities>>Open Forum
Chief Lending and Program Officer The Genesis Fund seeks our first Chief Lending and Program Officer. The ideal candidate will be an innovative and strategic thinker with a passion for community development and achieving statewide impact. We seek a leader experienced in real estate development and/or community development finance who sees a strong fit with the mission and values of the Genesis Fund.  The Chief Lending and Program Officer is a new senior/executive level position responsible for [More]

Files Attached Document
Hiring Chief Lending and Program Officer in Maine!

Please participate in our Credit Builder Loan research project

Fri, 2020-02-28 14:24
From : Communities>>Open Forum
Hi all: FUND Community Institute and Credit Builders Alliance are conducting a research project on Credit Builder loans in the CDFI industry. The final research report will provide information on the state of Credit Builder loans in the industry and hopefully also shed light on the big picture question of how the CDFI industry is doing in terms of impact in developing mainstream qualified borrowers. We welcome all CDFIs to participate in our survey at the link below. Please feel free to reach [More]

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