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Consumer lending software

Tue, 2021-01-26 09:53
From : Communities>>Open Forum
Hello, I am looking for a small loan consumer lending software program. We would like to find a program that will allow us to process applications, produce loan docs and service the accounts. I would like to hear from anyone that knows of or is using a system that is working for them. Thanks GARY BREWER Loan Officer (606)436-0497 https://redbudfinancialalternatives.org/

RE: City of Asheville NC is looking for a partner to help disburse local housing trust funds

Tue, 2021-01-26 09:33
From : Communities>>Open Forum
Self-Help (https://www.self-help.org/) is a large, sophisticated CDFI with a presence in Asheville.  They may be interested. ------------------------------ Aaron Duffy Vice President CU Strategic Planning Tacoma WA (423) 963-6589 ------------------------------

RE: CDFI eligibility for PPP

Mon, 2021-01-25 16:40
From : Communities>>Open Forum
Yes, for the first round. Eligibility of CDFIs that are 501(c)(3)s nonprofit organizations and therefore "eligible" was indirectly announced in the first round back on May 18, 2020, by a series of changes that were announced by SBA as part of their "Safe Harbor" notification (see this link to later updates to their Q&A addressing Safe Harbor in #46 and #47 = https://home.treasury.gov/system/files/136/Paycheck-Protection-Program-Frequently-Asked-Questions.pdf). Before SBA released "Safe Harbor," the [More]

ICYMI: Join our study on racial and gender equity in lending and promote CDFIs

Mon, 2021-01-25 11:38
From : Communities>>Open Forum
Hi everyone, Please join us for an informational webinar on our new data initiative to promote equity in lending. Our goal is to promote access to capital for women entrepreneurs (and women of color) in order to close the gender and racial funding gaps. You can read more about the initiative here . We look forward to seeing you there! Thank you, Paula -- Paula Ochiel Impact Associate ICA W: ica.fund C: 510.761.4056 E: paula @ica.fund

RE: Member Monday

Mon, 2021-01-25 11:27
From : Communities>>Open Forum
In this week's Member Monday , we would like to highlight the work of Arcata Economic Development Corporation (AEDC). For over 40 years, AEDC has supported regional economic development by providing funding for small businesses, building funding to partnerships to support community development, and by working in the community to identify and address pressing economic development issues. AEDC's lending products include microloans of $5,000 to large purchases of commercial property over $3 million. [More]

RE: Closing out the year

Mon, 2021-01-25 11:06
From : Communities>>Open Forum
Hi If it helps for comparison - we are a $14M portfolio, $2M annual budget, 13 person staff (so size may not be as comparative). Financials are issued by the 15th of each month; quarter end is no different since the previous months have been reconciled and financials produced. The only reprieve is that we do not provide Dec financials at the Jan meeting because we are closing the year end and preparing for the fiscal audit. Internal Dec financials produced by Feb 15th and final audited financials [More]

RE: City of Asheville NC is looking for a partner to help disburse local housing trust funds

Mon, 2021-01-25 10:59
From : Communities>>Open Forum
Thanks! Julie Mahowald Chief Financial Officer Housing Trust Silicon Valley Juliem@housingtrustsv.org 408-703-3837 x227 Mobile 650 996-4754

RE: City of Asheville NC is looking for a partner to help disburse local housing trust funds

Mon, 2021-01-25 10:54
From : Communities>>Open Forum
I don't know if they're on here, but Mountain Housing Opportunities is doing great things (as a developer, more than a CDFI per se) in both affordable rental and ownership in Asheville. ------------------------------ Elaine Magil Director TCAM, LLC Pittsburgh PA Directorelaine.magil@tcamre.com ------------------------------

The Carsey School and OFN – A Partnership for Education & Advancement

Mon, 2021-01-25 10:05
From : Communities>>Open Forum
The Carsey School of Public Policy at the University of New Hampshire is known throughout New England for its commitment to public service education, but equally so for its national research, policy analysis, and civic engagement work. Carsey collaborates with select partner organizations that share a community-focused mission, among them the Opportunity Finance Network (OFN). The partnership between OFN and the Carsey School offers OFN employees and board members – as well as employees and board [More]

2020 NMTC Allocation Winners

Sun, 2021-01-24 22:11
From : Communities>>Open Forum
Hi 2020 NMTC Allocation Winners, I wanted to post here and see if there are any 2020 NMTC Allocation Winners that are still looking to place NMTCs or have had a project in their pipeline drop out or be delayed and are looking to place those funds.  If so and your CDE has a geographic interest in Georgia, please email me as I represent a project looking for additional funds.  Thank you.  Regards, Chris ------------------------------ Christopher Kanstrup Consultant Individual Los Angeles CA 9176830647 [More]

Closing out the year

Sat, 2021-01-23 12:51
From : Communities>>Open Forum
Hi everyone We operate on the calendar year and are working to close the books on 2020. We've gone from ultra-small to $2mm portfolio, hired a Comptroller, and transitioned to serving clients (mostly micro enterprises) completely on-line. All pretty normal given our industry and the pandemic. How soon after period end does your organization produce financials? Does it take your team more time for quarterly and annual? Wishing you all the best year yet. Leila ------------------------------ Leila Faucette [More]

City of Asheville NC is looking for a partner to help disburse local housing trust funds

Fri, 2021-01-22 14:17
From : Communities>>Open Forum
Hi,  I just explained how CDFIs could help cities bring more affordable housing to their area to someone at city of asheville.  Is anyone working there and would like an intro? ------------------------------ Julie Mahowald Chief Financial Officer Housing Trust Silicon Valley San Jose CA (408) 436-3450 ------------------------------

RE: Managing Escrow with TEA (The Exceptional Assistant)

Fri, 2021-01-22 11:59
From : Communities>>Open Forum
Hi Steve, Many (possibly most) loan servicing systems don't handle this. The Mortgage Office does, and is RESPA compliant.  Escrow Administration Software   ------------------------------ A.J. Poulin Applied Business Software www.themortgageoffice.com aj@absnetwork.com 800.833.3343 x 118 Long Beach, CA ------------------------------

RE: Managing Escrow with TEA (The Exceptional Assistant)

Thu, 2021-01-21 17:55
From : Communities>>Open Forum
If you are set on TEA, I can't advise.  We switched form TEA to the Nortridge system some years ago.  Nortridge has an escrow module we use.  While our business is primarily commercial loans, we also have a small portfolio of consumer loans that need that escrow analysis.  We have found the escrow module useful on our commercial accounts for the replacement reserves or interest reserves, etc.  While they don't need that extra level of analysis, we still benefit from having that set aside area to [More]

Managing Escrow with TEA (The Exceptional Assistant)

Thu, 2021-01-21 15:33
From : Communities>>Open Forum
Hi, We're shopping for a new loan servicing system and TEA is one of the systems we're looking at most closely.  We manage escrow for a number of our customers, including for some consumer mortgages, and we understand that TEA does not support the the annual in-depth escrow analysis, escrow adjustments and sandard escrow analysis correspondence that is part of our standard management process.  I'm curious to know if anyone has figured out how to manage escrow using TEA to service their portfolio-- [More]

CDFI Loan Funds Trends Report (9/30/2020)

Wed, 2021-01-20 11:35
From : Communities>>Open Forum
Aeris has published our latest CDFI loan funds trends report, which is available now on our website . In 2020, we began to report on key CDFI performance trends to help the field understand the effects of the COVID-related economic crisis on CDFIs and their activities. The report draws upon the quarterly performance data Aeris collects on approximately 140 CDFI loan funds. Please visit our website to read the CDFI loan funds trends report for September 30, 2020: https://www.aerisinsight.com/2021/01/20/how-are-cdfis-faring-as-the-covid-crisis-deepens/ [More]

RE: Honoring MLK Day

Tue, 2021-01-19 09:26
From : Communities>>Open Forum
This was a wonderful thread to remind us Dr. Kings legacy. I am most impacted, even the day after, of his empassioned plea for the Beloved Community. May your service "the day after" and the weeks, months and years to come embrace the beloved community and the twin efforts of social and economic justice. Great regards, Hilda J. Kennedy AmPac Business Capital the dba of AmPac Tri-State CDC, Inc. AMPAC HAS A NEW HOME; PLEASE UPDATE YOUR RECORDS 3110 B Inland Empire Blvd. Ontario, CA 91764 909-915-1706 [More]

RE: Honoring MLK Day

Mon, 2021-01-18 10:09
From : Communities>>Open Forum
Thank you so much, Cathi. I appreciate the helpful links to support my focus today. May Mrs. King's challenge to us find some space in our busy lives today. B. Barbara Eckblad barbara@theeckbladgroup.com 262.707.6313

RE: TLR Reports Non-Compliant but Submitted

Fri, 2021-01-15 18:36
From : Communities>>Open Forum
Hi Robert, If you haven't already done so, your first step would be to respond via a service request citing what you just reported. Good luck! ------------------------------ Dennis Oshiro Executive Director HHOC Mortgage Honolulu HI ------------------------------

Honoring MLK Day

Fri, 2021-01-15 18:19
From : Communities>>Open Forum
Dr. King's legacy and our collective understanding of his work, impact, and who we are as a country have shifted over time. How do we understand and honor Dr. King's legacy, especially in light of where we are today? "The holiday must be substantive as well as symbolic. It must be more than a day of celebration . . . Let this holiday be a day of reflection, a day of teaching nonviolent philosophy and strategy, a day of getting involved in nonviolent action for social and economic progress." Coretta [More]

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