re: City of St. Paul MN_ Abuses http://sicko-citystpaul.blogspot.com/
Community Reinvestment Act - Wikipedia, the free encyclopedia
Community Reinvestment Act
From Wikipedia, the free encyclopedia
| The neutrality of this article is disputed. Please see the discussion on the talk page. (September 2008) Please do not remove this message until the dispute is resolved. |
The Community Reinvestment Act (or CRA, Pub.L. 95-128, title VIII, 91 Stat. 1147, et seq.) is a United States federal law designed to encourage commercial banks and savings associations to meet the needs of borrowers in all segments of their communities, including low- and moderate-income neighborhoods.[1][2][3] The Act was intended to reduce discriminatory credit practices against such neighborhoods, a practice known as redlining.[4] The Act requires the appropriate federal financial supervisory agencies to encourage regulated financial institutions to meet the credit needs of the local communities in which they are chartered, consistent with safe and sound operation. (See full text of Act and current regulations.[1]) To enforce the statute,
Sharon and others have been denied CRA to stay in their Homes,Links:
Involved in the Neighborhood Stabilization Program?
Let us streamline your loan servicing.
We offer fifteen years’ experience and
successful support for foreclosure remediation programs in Minnesota.
Customized, Nonprofit Mortgage Servicing
Community Reinvestment Fund, USA (CRF), a national nonprofit headquartered in Minneapolis, provides high-touch, customer-focused loan servicing for all types of residential mortgages and business loans. CRF currently services more than 5,600 loans with a total value of approximately $605 million.
History of Minnesota Support
Here in Minnesota, we’ve helped community development organizations and the cities of Minneapolis and St. Paul operate successful affordable housing and foreclosure remediation programs.
Our loan servicing for the “Home to Stay” and the Sustainable Home Ownership Program (SHOP) help the founding organizations focus on core activities, while providing low-income and fiscally challenged borrowers with friendly, consultative service on their new mortgages.
Mission-Driven Focus
At CRF, we specialize in customized projects for non-traditional portfolios and mission-driven organizations like yours:
- First and second mortgages
- Single- and multi-family housing
- Affordable housing and foreclosure remediation support
CRF is an active Fannie-Mae servicer and the only nonprofit servicer in the U.S. rated “Select” by Standard and Poor’s.
As your community develops its local Neighborhood Stabilization Program,
let CRF streamline the mortgage loan servicing process.
Contact one of our experienced Market Managers to discuss your needs:
Kevin Riba Market Manager 612-305-2059 | Gary Holmquist Market Manager 952-922-5801 | Paul Ammerman Market Manager 612-305-2058 |
Sincerely,
Frank Altman
President & CEO
Community Reinvestment Fund, USA
Community Reinvestment Fund, USA (CRF), a national nonprofit organization, is the nation’s leader in bringing capital to public and private nonprofit community development lenders through the secondary market for loans. Formed in 1988, CRF has injected more than $1 billion into low-income and economically disadvantaged communities around the country to help stimulate job creation and economic development, provide affordable housing and support community facilities.
Community Reinvestment Fund, USA
801 Nicollet Mall, Suite 1700W
Minneapolis, MN 55402
No comments:
Post a Comment