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Challenges & Opportunities in Homeownership: THE UNTAPPED POTENTIAL OF UNDERSERVED COMMUNITIES

Tue, 2019-08-06 10:05
From : Communities>>Open Forum
Interesting article to share with your lending partners... Executive Summary The wealth gap is growing. Homeownership is the single greatest asset for many individuals and families today. Access to homebuying capital is a key front-line issue. To ensure that homeownership remains in reach, we must guarantee pathways exist for all qualified homebuyers. Unfortunately, today there is still a large mortgage-ready population that remains underserved by credit. These underserved communities represent both [More]

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Challenges & Opportunities in Homeownership: THE UNTAPPED POTENTIAL OF UNDERSERVED COMMUNITIES

Nonprofit Executive Team Effectiveness

Tue, 2019-08-06 09:58
From : Communities>>Open Forum
A good read that I thought I would share.  Made me think about a few things and areas where I could improve.  Enjoy.   Executive Summary: Leading any enterprise is a challenge, especially for organizations growing in size and complexity. The job readily expands beyond the capacity of any single leader. That's why CEOs of many nonprofits establish executive teams-groups of senior leaders who work together to chart the organization's direction and keep it on track toward its goals. Shaping a high-performing [More]

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Nonprofit Executive Team Effectiveness

Board Member Job Descriptions

Mon, 2019-08-05 18:07
From : Communities>>Open Forum
Hello, We are in the process of recruiting board members for our new online microlending org. We've been asked if we have board job descriptions or board job requirements. Does anyone have examples they could share? Thanks to those who shared your credit policies last week. We're grateful to be part of such a generous community!

America's Housing Crisis is a Chance to Change the Narrative and Fix the Future

Mon, 2019-08-05 13:20
From : Communities>>Open Forum
America's Housing Crisis is a Chance to Change the Narrative and Fix the Future by Zane Fischer, CEO, Extraordinary Structures and Housing Expert Our shared mythologies tell us home is sweet and home is where the heart is. But access to good housing is increasingly difficult for many. The US housing crisis is tied to our economy and our environment. Solutions lay in both our perception of equity around shelter and in where and how we choose to build.  Article link -  https://greenmoney.com/americas-housing-crisis-is-a-chance-to-change-the-narrative-and-fix-the-future [More]

ITIN Lending and Micro Lending for Business

Mon, 2019-08-05 12:44
From : Communities>>Open Forum
Howdy friends,  Wanted to alert you to an opportunity for folks in the SF Bay Area next week (August 15-16). My organization, Filene Research Institute along with a host of others (Inclusiv, Coopera, PolicyWorks, Grameen America and Accion) are hosting a 1 1/2 day workshop at VISA's headquarters in Foster City, California on effective approaches to ITIN and Small Business Lending. This workshop is based on 2+ years of field work with credit unions and banks from across North America and includes [More]

Artist Designers Made in America

Mon, 2019-08-05 11:49
From : Communities>>Open Forum
I inherited ( with as sibling)  a unique American ceramic design and production business which was started in the fifties with the intent to create hand crafted products affordable to the middle class. Our customers immediately started referring to our product as "art" so it is fair to say it is a business which uses production as an artform. I grew up in this business and love the work process. The business I inherited had been in need of refinancing for a very long time but we do not fit conventional [More]

RE: CDFI Research

Fri, 2019-08-02 09:22
From : Communities>>Open Forum
Thank you this is very helpful! I will send you a follow-up email shortly. ------------------------------ Katherine Donovan Washington Area Community Investment Fund Washington DC (202) 529-5505 ------------------------------

NCRC CRA white paper on community development financing and assessment areas

Thu, 2019-08-01 15:04
From : Communities>>Open Forum
Dear Colleagues: We just released a CRA white paper on how to consider community development financing outside of CRA assessment areas. We hope you find it insightful and useful as the agencies proceed with CRA reform. An evaluation of assessment areas and community development financing: Implications for CRA reform https://ncrc.org/an-evaluation-of-assessment-areas-and-community-development-financing-implications-for-cra-reform/ Let me know if you have any questions. Best, Josh Silver [More]

RE: contract underwriters

Thu, 2019-08-01 13:02
From : Communities>>Open Forum
Hi Michael,  I've been working as a contract-based business loan underwriter for CDFIs across the country for several years now.  Outsourcing underwriting can be a fantastic way to increase efficiency, save money, and manage variable loan volume. It sounds like you've gotten several good responses so far, particularly for affordable housing loans. If you're still seeking a small business underwriter  I'd encourage you to visit my website and let me know if you'd like to talk further. I offer both [More]

RE: CDFI lenders who can support non-profits with operational costs

Thu, 2019-08-01 13:00
From : Communities>>Open Forum
Sonja,      I agree with Lesli. They key is understanding what the repayment source is.  This is critical because there is a significant difference if the repayment source is cash proceeds from a government contract or grant versus repayment based on cash flow from operations.  At Capital For Change we provide loans to nonprofits for various reasons so we try to carefully evaluate sources of repayment. ------------------------------ Earl Randall Manager, Programs & Small Business Lending Capital [More]

RE: contract underwriters

Thu, 2019-08-01 11:51
From : Communities>>Open Forum
Michael, Dana Moore and Mike Devlin at Compass Advisors (you may remember them from our Fannie Mae days) Brian Nagendra (formerly of Living Cities and CityFirst) Kevin McQueen at BWB Eileen ------------------------------ Eileen Neely Director of Lending Housing Assistance Council Washington DC 202-842-8600 x119 ------------------------------

5 Step Project Approach - Lessons Learned in Technology Implementations

Thu, 2019-08-01 11:27
From : Communities>>Open Forum
Hi Everyone, Hope you are all enjoying your summer!  I am including a link to my latest blog: 5 Step Project Approach - Lessons Learned in Technology Implementations .  I hope you find this post useful.  Please let me know if you have any follow-up questions. Best, Lily ------------------------------ Lily Leavitt Community Development Practice Lead Craftsman Technology Group Boston MA lily@craftsmantech.com 857 289-2472 ------------------------------

RE: contract underwriters

Thu, 2019-08-01 10:59
From : Communities>>Open Forum
Thanks Nathaniel.  I know Elizabeth well and she is on my list.  Appreciate the response ------------------------------ Michael Carroll Director of Lending Rural LISC Sacramento CA 9168025990 ------------------------------

RE: CDFI Headhunter

Wed, 2019-07-31 19:20
From : Communities>>Open Forum
I want to thank everyone who responded to my request either in the forum or directly.   Thank You Very Much! ------------------------------ Jerry Rioux, Executive Director San Luis Obispo County Housing Trust Fund San Luis Obispo, CA jerry@slochtf.org ------------------------------

RE: contract underwriters

Wed, 2019-07-31 19:18
From : Communities>>Open Forum
Small world.  Elizabeth Moore crossed my mind, too. ------------------------------ Jerry Rioux, Executive Director San Luis Obispo County Housing Trust Fund San Luis Obispo, CA jerry@slochtf.org ------------------------------

RE: contract underwriters

Wed, 2019-07-31 19:13
From : Communities>>Open Forum
Here at MEDA in San Francisco, we contract with Elizabeth Moore (based in Reno) to underwrite affordable housing loans. I highly recommend her. She's extremely knowledgeable about the industry and has decades of underwriting experience. She can be reached at emoore3654@gmail.com. ------------------------------ Nathaniel Owen Community Loan Fund Director Mission Economic Development Agency San Francisco CA (415) 282-3334 ------------------------------

RE: CDFI Headhunter

Wed, 2019-07-31 14:50
From : Communities>>Open Forum
Hi Jerry, We are a $110 MM Community Development Credit Union that's been around for 40 years.  We went through a search for our 3rd CEO last year and our Board turned to David Erickson-Pearson.​ He was great for the Board to work with and grweat for the candidates to work through also.  I would highly recommend contacting David. David Erickson-Pearson 8801 Creekside Way, #1321 Highlands Ranch, CO  80129 303-703-6165 720-244-3943 – cell epdavid@earthlink.net Kevin M Mietlicki CFO, CUDE [More]

RE: CDFI Research

Wed, 2019-07-31 13:25
From : Communities>>Open Forum
I would be happy share information on our $1 Million Dollar Challenge Program which is a nationwide program providing patient capital/equity investments to minority owned enterprises (MBEs) - recognizing the disparity in available patient capital/equity for MBEs. This evening 22 MBEs, that were selected from over 400 applicants nationwide, will be presenting to become one of 10 finalists that will then be provided target technical assistance to enhance their "shark-tank" presentations. Later this [More]

RE: CDFI Headhunter

Wed, 2019-07-31 12:06
From : Communities>>Open Forum
Please feel free to be in touch with me. I am a former CDFI founding board member who has done roughly 100 CDFI searches over the past 25 years. David Erickson-Pearson 8801 Creekside Way, #1321 Highlands Ranch, CO 80129 303-703-6165 720-244-3943 cell epdavid@earthlink.net Erickson-Pearson Search .............finding mission-driven leaders

RE: Loan Policies for a Microlender

Wed, 2019-07-31 07:15
From : Communities>>Open Forum
Hi Sarah,  There is a discussion thread in the Small Business Finance Community where a few CDFIs have shared loan policies.  Thread is below: Loan Policies Thread   In addition, OFN created summaries of key loan policy elements.  The summaries include:  Loan Approval Portfolio and Risk Management Troubled Loan Management Undewriting.   You can view the summaries here . Hope this helps! ------------------------------ Seth Julyan Executive Vice President, Membership Opportunity Finance Network [More]

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