THERE’S NO PLACE LIKE
FOR LENDING SUCCESS,
BY TODD SEARS CHIEF FINANCIAL OFFICER, HERMAN & KITTLE PROPERTIES INC.
Community Reinvestment Act
LOANS MAY HELP YOU CLOSE HARD-TO-FUND DEALS
With financing increasingly difficult to get, it is more important than ever to know the
market of the property you are financing. f
Does it matter if bank branches are located near the property you are financing? Yes. Can it
your client benefit from a better loan product simply by knowing and understanding why
the location of bank branches matter? Yes. Why? Three simple letters: CRA.
The Community Reinvestment Act (CRA) encourages banks to provide services and lending in
the communities where they receive deposits. Because of this, local banks and branches can
offer mortgage brokers an opportunity to fund properties that may be hard to finance elsewhere.
Here’s what you should know about CRA loans and how your clients can benefit from them.