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#64769 - 03/01/03 02:54 AM CRA question
Kathleen O. Blanchard Offline

10K Club
Kathleen O. Blanchard
Joined: Dec 2000
Posts: 21,277
Have any of you had any experience with SBIC investments.

1. How large of a "regional area that includes your assessment area" have you been able to get away with?

2. Did you receive credit regardless of the size of the companies that received financing from the SBIC...companies with annual revenues of greater than $1million, some much greater.

Just curious what other's experiences have been.
_________________________
Kathleen O. Blanchard, CRCM "Kaybee"
HMDA/CRA Training/Consulting/Mapping
The HMDA Academy
www.kaybeescomplianceinsights.com

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General Discussion
#64770 - 03/01/03 09:58 PM Re: CRA question
HRH Dawnie Offline
Power Poster
HRH Dawnie
Joined: Aug 2002
Posts: 7,353
Anchorage Alaska
I can answer number one. I've gotten credit for the entire state verses the 10 small areas I serve within the state.

In order to get the credit you need to demonstrate you did what you could within your AA, and then moved on outside of it. Alaska presents some very unique challenges when it comes to investments, not having the opportunity to take credit for Fannie Mae or Freddie Mac. This leaves me trying to meet the investment test with nothing but local housing bonds...which Fannie and Freddie buy 95% of (then they put them in a portfolio with so few AK deals in them I can't take the credit). So, if you're taking credit for deals outside of your AA, be sure you document why you need to do so very carefully.
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Dawn Coursey VP/CRA Queen

CRA Rating is in...Oh who cares...I'm home with the baby.

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