[tcranshaw]

Several of our Commercial Lenders have approached Habitat for Humanity for Guidance Lines of Credit to purchase single family homes to sell to LMI borrowers. Habitat would be assigning the mortgage to us. The lenders are expecting these loans to qualify as CDLs for the purpose of providing affordable housing. Makes sense; however, the CRA Data Collection Grid seems to imply otherwise by only making reference to multi-family purchases. Thoughts? Have you seen Banks receiving CDL credit or do we need to structure the deal differently to obtain credit?

[rcooper]

See Jack’s response here: https://mycomplianceresource.com/forums/topic/habitat-4-humanity/

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