ACORN is a low-to-moderate income first time homebuyer assistance program here in Georgia. Does anyone know, can we get credit for CRA if we originate these loans, but they are closed under Taylor, Bean, & Whitiker (lender). Meaning, we don't use the bank's money and the loan is never on our books. We are the broker in the situation.

I have a feeling the answer is no, since we don't keep these loans, but it sure would be nice to get credit if we could!

If you have not originated the loan, they would not be reportable. However, there is a strong possibility that you could receive Community Development credit. Especially if the activity is inside your assessment area.

You can receive credit for these loans under the Service test, not the lending test. Just keep a log of the transactions, in particular the LMI characteristics of the borrowers or the area and the documentation pertaining to the involvement of a community development organization.

Thanks Len and Don! I don't know what I would do without your wonderful advice and opinions!

Thanks!