CDFI Connect Community Discussions

From : Communities>>Open Forum
No problem. Good luck. Sent from my iPhone

From : Communities>>Open Forum
Here is what we use. But, we never got any guidance, we actually copied one from another lender (to be perfectly honest). ------------------------------ Heather Gurewitz Executive Director Economic Development and Financing Corporation Ukiah CA (707) 234-5705 ------------------------------

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RE: Seeking Sample Photo/Video Release Form

From : Communities>>Open Forum
Good morning Jerry - I hope you are well. My name is Tracy McMillan and I am Managing Partner of HCGA Consulting Partners. I have been in the search industry for 25 years and have specialized in the past 8 in the Affordable Housing/State HFA and related Non-Profit sectors. We have placed and retained numerous professionals for the following clients over the years: Colorado Housing Finance Authority (CFO/GC) Idaho Housing Finance Association (CFO/Controller) CalHFA (CAO/Head of Multifamily/Director [More]

From : Communities>>Open Forum
Hi Mae, I would put into policy that exceptions for loans up to a certain amount (perhaps your median loan amount) can be approved by the Executive Director, and exceptions to policy for larger loans need to go to your Loan Committee.  Regards,  Lisa Bloomquist Palmer Executive Director HomesFund 124 E. 9 th Street Durango, Colorado 81301 P 970-259-1418 F 970-259-1298 C 720-775-8252 lisa@homesfund.org ------------------------------ Lisa Bloomquist Executive Director HomesFund Durango CO [More]

From : Communities>>Open Forum
Thanks everyone! These are some good considerations for us! We had discussed separating out policy/guidelines/procedure and this might be the impetus to do so. We're also working on updating our Salesforce build so we will look at doing something similar to your approach, Mark! Thanks again! ------------------------------ Mae Humiston CDFI Manager Redbud Financial Alternatives, Inc. Hazard KY (606) 436-0497 ------------------------------

From : Communities>>Open Forum
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 ------------------------------ Paul Turney President & CEO Brazos Valley Community Development Corporation, Inc. Bryan TX 979-775-4244 ------------------------------

From : Communities>>Open Forum
Hello Everyone,  I am on a quest for versions of photo/video release forms used by other CDFIs. We have a draft document that covers photos, videos, written testimonials, and social media posts, but it is based on versions of documents I used in previous roles and it might be too comprehensive for our needs. If you have one that you use and are willing to share, feel free to email me at BarbaraAnne@CBACLenders.com. If you don't have one and would like to see what we have drafted, let me know and [More]

From : Communities>>Open Forum
Hi Mae,  How is your lending team structured? Do you have separate folks in lending and underwriting roles? If not, separating those two functions might be a good place to start. By doing so, you create one party whose job it is to sell, manage relationships with borrowers, and push policy exceptions (where warranted), and another party who determines how each loan stacks up against policy and whether exceptions are justified and mitigated. Doing so separates conflicting interests, ensures your committee [More]

From : Communities>>Open Forum
We built a module in our version of Sales Force to handle the sort of routine exceptions, usually a mission issue, such as the borrower is over our income limits or the co- borrower is not a citizen so they want to take title sole and separate. These we do online with two of us needing to agree rather than the whole committee. We just had IT build some drop down categories so we can see reports and look for patterns and inconsistencies. Very much a work in progress, but less loans go to full committee [More]

From : Communities>>Open Forum
After we ran into the same issue, we carefully split our Loan Policy, creating a Lending Guideline Manual as well. We moved the more routine aspects of our Loan Policy into the Guideline Manual. The more significant items that remain in Loan Policy still need to be reported to an outside entity whereas Loan Guideline exceptions can be approved internally by senior staff. ​ ------------------------------ GregoryBradley Craft3 Seattle, WA ------------------------------

From : Communities>>Open Forum
Hello! Would anyone be willing to share their policies and/or procedures that guide how to consider loans outside of policy/guidelines? As our lending volume grows, we're trying to define the lines that let us consider loans outside policy without having to consider every. single. loan. outside policy. We have a Loan Committee that has, until this point, reviewed all loans outside of policy and I'm starting to feel sorry for them :) We are looking for guidance that is both nimble and flexible enough [More]

From : Communities>>Open Forum
We recently worked with our board to create a job description and am happy to share that. Marilyn Huebel,  Director of Administration, Accion serving Illinois and Indiana. ------------------------------ Marilyn Huebel Director, Administration ACCION Chicago Chicago IL (312) 275-3000 ------------------------------

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RE: Board Member Job Descriptions

From : Communities>>Open Forum
Dear Colleagues: Check out the new blog: Don't diminish the importance of homeownership in CRA reform With respect for all you do. Josh Silver Senior Advisor NCRC Josh Silver Senior Advisor National Community Reinvestment Coalition 202.464.2733 202.628.9800 (fax) jsilver@ncrc.org Pronouns: He/Him/His 740 15th Street NW, Suite 400, Washington DC 20005

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

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

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!

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]

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]

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]

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 ------------------------------