I know if the past we have been able to count loans to CDFIs as investments but I am trying to point to where the regulation or Q&A that allows this to determine whether a new loan will be given the same consideration. Can anyone point me in the right direction?

The CRA Reg defines a qualified investment as "(t) Qualified investment means a lawful investment, deposit, membership share, or grant that has as its primary purpose community development." In my experience loans to CDFI were not considered as investments. If there was confusion on how to treat an asset - as either a loan or as an investment - I directed examiners to default to the Call Report definitions.