Thread Options
#2227953 - 12/23/19 09:40 PM Consolidation Loan
wblewis935 Offline
Member
Joined: Feb 2011
Posts: 53
We are doing a consolidation loan to an organization which provides affordable housing opportunities to LMI residents. It is a consolidation of three loans which were all originated by our institution and are community development loans. My question is would this loan be considered a community development loan still? We would report it as a CRA loan normally, but can I still report it as a CD loan?

Return to Top
CRA
#2227956 - 12/23/19 09:49 PM Re: Consolidation Loan wblewis935
Kathleen O. Blanchard Offline

10K Club
Kathleen O. Blanchard
Joined: Dec 2000
Posts: 21,277
Is the maturity being extended? Is there some benefit to the consolidation (lower rate, better terms)? Refinances, renwals, modifications to extend maturity of CD loans are reported so this would be if reported if that is the case or if there is new money.

If reported, mention any improved terms that help the borrower.
_________________________
Kathleen O. Blanchard, CRCM "Kaybee"
HMDA/CRA Training/Consulting/Mapping
The HMDA Academy
www.kaybeescomplianceinsights.com

Return to Top