On February 9, at the 2016 CRA Conference in Los Angeles the Comptroller of the Currency, Thomas Curry, announced a draft of a soon-to-be-published proposal to encourage banks to help revitalize "targeted" neighborhoods by engaging in higher loan-to-value mortgages.
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!
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.