GeoDataVision president Len Suzio today announced the release of the 2015 Census Tract Reports by GeoDataVision. The reports contain the latest census tract income classifications plus Minority tract status Distressed or Underserved Tract designations and the 2015 Estimated Family Incomes associated with each tract inside each MSA or statewide non-MSA.
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Many bankers are now beginning to evaluate their 2014 CRA performance. One of the big "Performance Context" factors that may have affected your small business lending and HMDA-reported mortgages was the implementation of the new MSA's effective on January 1, 2014.
The new MSA's affected the income classification of thousands of census tracts resulting in a change in the income classification of 2,603 census tracts throughout the country!
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Do you feel the pressure to reach impossible or ill-defined CRA Performance goals ? How you have constructed your Assessment Area may be your problem!
GeoDataVision has announced a new national version of its CRA Community Development Market Rank Report is available for free as a public service available on its website.
"There is such a need for Community Development Lending information and so few sources of that data we at GeoDataVision have decided to develop and release a new version of our Community Development Lending Reports", said GeoDataVision President Len Suzio.
Many bankers are not aware that when they have AA's within one of the eleven "mega" MSA's they can designate any or all of the MSA as an AA. However, when examiners evaluate their bank's CRA performance the procedure is to break down the AA into Metro Divisions for performance evaluation purposes. Bankers who want to mimic regulatory examination procedures to help them anticipate their examination experience may want to break up their AA into multiple AA's when they are located within one of the 11 mega MSA's.