The 2-Minute Rule for 228 loan
The 2-Minute Rule for 228 loan
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The Board testimonials the effects and responsiveness from the lender's community enhancement loans and Local community enhancement investments that benefit or serve a State, as presented in § 228.15.
A lender required to report home home loan loan facts pursuant to 12 CFR aspect 1003 should involve in its public file a prepared notice the financial institution's HMDA Disclosure Assertion could be received on the Consumer Economic Defense Bureau's (CFPB's) website at:
In the course of the expression of a prepare, a lender will have to submit into the Board for acceptance an amendment to its plan if a cloth adjust in situations:
(one) A shopper loan is located during the census tract in which the borrower resides at the time that the borrower submits the loan application;
The Board considers data furnished by the bank and may contemplate publicly accessible information and facts and knowledge furnished by government or community sources that demonstrates that a Local community improvement company Rewards or serves a facility-based assessment spot, Point out, or multistate MSA, or perhaps the nationwide location.
The Board makes use of the power-dependent evaluation regions delineated by a financial institution in its analysis in the bank's CRA functionality Until the Board decides that the power-centered assessment spots never adjust to the requirements of this part.
means a bank's loans in one of the next, independent classes in a certain Retail Lending Exam Region:
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The greenback volume on the minimal purpose bank's community improvement loans and community development investments that reward or serve the Condition or multistate MSA and a review of your impact and responsiveness more info of These loans and investments, as delivered in § 228.fifteen.
) of the section, a bank might supply unique weights for averaging together the functionality across these loan goods and could involve Those people loan goods inside the numerator on the Financial institution Volume Metric.
For the minimal intent lender that experienced belongings greater than $10 billion as of December 31 in each in the prior two calendar several years, the Minimal Purpose Bank Community Improvement Expenditure Metric actions the dollar quantity of your lender's Local community enhancement investments that gain or serve all or Portion of the nationwide location, excluding home finance loan-backed securities, compared to the lender's property, calculated pursuant to paragraph III.d of appendix B to this element.
Any facility-centered assessment region, retail lending evaluation spot, outdoors retail lending space, or other geographic spot that will be evaluated in the absence of an authorized approach, but is just not A part of an accepted plan, is going to be evaluated pursuant towards the general performance assessments that could utilize inside the absence of an permitted program.
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has exactly the same that means as that time period is described from the Director on the Workplace of Administration and Budget.