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Updated: 56 min 25 sec ago

RE: New York District FHLB - Your experience?

Fri, 2021-03-19 10:22
From : Communities>>Open Forum
Cliff, You may want to check out what FDIC and the Federal Reserve in Chicago have put together. Includes presentations by CDFI's as well. Know this is basic info for you, but thought there may be a few nuggets that would help you promote. Community Development Financial Institutions (CDFIs) share a common goal of expanding economic opportunity in low- and moderate-income communities by providing access to financial [More]

RE: CDFI FA Use

Fri, 2021-03-19 09:41
From : Communities>>Open Forum
Hi Noah - homebuyer education and counseling is an eligible use under Development Services, but only if your CDFI provides mortgage lending for homebuyers. Development Services need to be designed to prepare recipients for your Financial Products. Also note that there is a distinction in the PG&Ms between how you use the FA funds and your deployment goals. Depending on how you frame your application, you may have deployment goals in a New Product category, or an overall increase in deployment. You [More]

RE: Loan Programs Property Owners

Fri, 2021-03-19 09:25
From : Communities>>Open Forum
Impact Loan Fund operates a modest program on behalf of the City of Philadelphia Link here -- happy to discuss experience privately as well https://www.impactservices. org/loan-fund/rental- improvement-fund/ pmarcus@impactservices.org ------------------------------ Paul Marcus Director Impact Loan Fund Philadelphia, PA 267-209-0450 pmarcus@impactservices.org ------------------------------

Colorado Enterprise Fund is hiring!

Thu, 2021-03-18 17:52
From : Communities>>Open Forum
Colorado Enterprise Fund has two positions we're currently recruiting for:  Loan Closing Manager This person will manage our Pre-Underwriting and Closing team, serving as a liaison between lending, processing and servicing. 5 years experience processing and closing SBA loans is a necessary requirement for this role. Find the full job description here: https://www.indeed.com/job/loan-closing-manager-1d4c1157cbaa9bb5 Impact Analyst This person will track and analyze data in our CRM system to help us [More]

RE: Loan Programs Property Owners

Thu, 2021-03-18 15:24
From : Communities>>Open Forum
Amy, Thanks for sharing your time and information with me. Anita ------------------------------ Anita Smith-Dixon Executive Director Community Housing Services Agency, Inc. (CHSA) Savannah GA 912.651.2169 ------------------------------

RE: New York District FHLB - Your experience?

Thu, 2021-03-18 13:42
From : Communities>>Open Forum
Hello Cliff, I am delighted that you will be speaking to the NYFHLB about CDFIs. I have been asking them to put a session about CDFIs on their agenda for a while. My CDFI, The Community Development Trust, http://www.CDT.biz , has been a member since 2013.  We have been able to use their advances against 1st mortgage collateral on LIHTC properties and are most appreciative of their rates.  We would, of course, like less of a haircut and longer terms.   There are several other CDFI members of the NYFHLB, [More]

RE: Loan Programs Property Owners

Thu, 2021-03-18 12:50
From : Communities>>Open Forum
@Anita Smith-Dixon ​ ------------------------------ Amy Schaftlein Executive Director United Housing, Inc. Memphis, TN 38118 901-728-6921 ------------------------------

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RE: Loan Programs Property Owners

RE: Loan Programs Property Owners

Thu, 2021-03-18 10:00
From : Communities>>Open Forum
Hi Anita, we are creating a Rental Preservation Loan program because over half of our single-family homes in Memphis, TN are rental and the only home repair programs available were for homeowners. The program is in the testing stage, we are offering up to $80,000 per unit for single-family and small multi-family complexes (like quads and six-plex, etc.) at a 5 year term, 10-year am and 3.5% rate at the moment. It was at 6% then 4.5% now with rates low we reduced again. We target local property owners [More]

RE: CDFI FA Use

Thu, 2021-03-18 09:46
From : Communities>>Open Forum
Noah - Eligible uses of an FA award include: Financial Products (i.e. loan capital) Loan Loss Reserve Development Services (explicitly training and technical assistance) Up to 15% for Direct Administrative Expense (which is not overhead, but expenses directly related to lending, such as underwriting, servicing, etc.) Considering these eligible uses, you can support staff time for the provision of homebuyer education and counseling. "Launching a new product for credit reporting" could potentially [More]

RE: CDFI FA Use

Thu, 2021-03-18 09:29
From : Communities>>Open Forum
Good Morning Noah, We have received a number of CDFI awards since the formation of the program, and while we have primarily used the awards for similar purposes, there are a number of allowed uses that are explicitly described in the NOFAs.  Some that we have considered in the past is using it to branch into new locations/populations, but with Vermont being as mono-ethnic as it is, we cannot really make that case.  Other states with larger minority populations could use funds to target services to [More]

RE: Credit Repair Services

Wed, 2021-03-17 11:22
From : Communities>>Open Forum
Working Credit NFP is national and does credit management and building at a distance. ------------------------------ Geri Aglipay Small Business Majority Washington DC (202) 828-8357 ------------------------------

Loan Programs Property Owners

Wed, 2021-03-17 09:37
From : Communities>>Open Forum
Does anyone offer a rental property improvement loan for small single family property owners? If yes, are you willing to share your program guidelines? Yours sincerely, Anita Smith-Dixon Executive Director Community Housing Services Agency, Inc. (CHSA) O: 912-651-2169 F:912-525-1764 1375 Chatham Parkway, 2 nd Floor Savannah, GA 31405 Mailing Address: P.O. Box 1027, Savannah, GA 31402 http://chsainc.org Vision: Communities in which safe and quality housing, neighborhoods and living [More]

CDFI FA Use

Wed, 2021-03-17 09:21
From : Communities>>Open Forum
Hey folks, We have applied for and received 4 CDFI FA awards and have used them exclusively for lending capital (both to launch new products and to increase production).  I'm wondering if you can use an FA award for homebuyer education and counseling work staff time as well as staff time for launching a new product for credit reporting (staff time not money for that program).   Thanks for any insight. ------------------------------ Noah Hobbs Lending Director One Roof Housing Duluth,\ MN 218.249.0364 [More]

RE: Credit Repair Services

Wed, 2021-03-17 07:16
From : Communities>>Open Forum
I can second that. Operation Hope is an outstanding organization based in Atl. They have what are called Hope Inside offices where they partner with a company including many banks to set up shop in their facility, often in the main lobby for visibility. They are quite active in NC. It's a great program that is of course, free. I know them well and can connect you to John Hope Bryant himself or one of is senior staff. Glad to do it. Best Regards, David P. Fehrenbacher, CRMA Director, Financial [More]

RE: Credit Repair Services

Tue, 2021-03-16 12:30
From : Communities>>Open Forum
Hello Hyder, We work with Operation Hope and they have offices in California.  Hope this helps!  https://operationhope.org/our-locations/ ------------------------------ Chris Lovegreen Loan Associate Thread Capital Raleigh NC 919-229-9718 ------------------------------

RE: Stephen Colbert supports CDFIs!

Tue, 2021-03-16 11:30
From : Communities>>Open Forum
Thanks for the shoutout Jason! ------------------------------ Eric Weaver Founder and Senior Advisor Opportunity Fund San Jose CA (408) 297-0204 Founder and Senior Advisor ------------------------------

New York District FHLB - Your experience?

Tue, 2021-03-16 11:19
From : Communities>>Open Forum
I've been asked to do a presentation on CDFIs for the Federal Home Loan Bank of New York, encouraging membership. Anyone have experience to share? Thanks! ------------------------------ Clifford Rosenthal Principal Archer+Rosenthal Brooklyn, NY 917-903-1927 ------------------------------

RE: Tip Tuesday

Tue, 2021-03-16 10:16
From : Communities>>Open Forum
Tip Tuesday  of the week! On your profile's main page, you are able to change your address and phone number. However, if you wish to change your organization or email, please contact  especht@ofn.org  to change on our backend! ------------------------------ Elizabeth Specht Member Engagement Associate Opportunity Finance Network Southwest DC (202) 618-6100 ------------------------------

Business Credit Reporting

Tue, 2021-03-16 09:54
From : Communities>>Open Forum
Hello! I posted here several months ago about creating policy for adding business credit reporting as well as consumer reporting. We are still looking to connect with other lenders that may have policies about how they determine who gets reporting to which bureaus: consumer only, consumer and business, or business only. Does it change by the relationship you have with clients, loan size, payment history, or other factors? We currently report all of our clients to both consumer and business bureaus [More]

RE: Stephen Colbert supports CDFIs!

Tue, 2021-03-16 09:41
From : Communities>>Open Forum
That's awesome! Wonder how he selected Accion? Great for them and their clients! ------------------------------ Inja Coates Customer Relationship Manager The Enterprise Center Capital Corporation Philadelphia PA 215-895-4000 ------------------------------

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