OCC Publication Focuses on Single-Family Rehabilitation Financing Programs

News Release 2018-21 | February 27, 2018

WASHINGTON—The Office of the Comptroller of the Currency (OCC) published the latest edition of its Community Developments Investments newsletter titled “Expanding Housing Opportunities: Single-Family Rehabilitation Financing Programs.”

This edition of Community Developments Investments discusses how national banks and federal savings associations can help revitalize communities by establishing housing rehabilitation loan programs. The publication describes how banks can make home renovation loans in distressed areas, with guidance for such programs set out in OCC Bulletin 2017-28, “Mortgage Lending: Risk Management Guidance for Higher-Loan-to-Value Lending Programs in Communities Targeted for Revitalization.” In addition, the publication highlights significant revitalization efforts in neighborhoods in Detroit, Baltimore, and other cities, and explains how federal and government sponsored enterprise loan programs as well as tax credits are supporting community and bank rehabilitation financing initiatives. The publication also addresses how community development-related home rehabilitation efforts can qualify for consideration in a bank’s Community Reinvestment Act evaluation.

This edition of Community Developments Investments is part of a group of resources available to banks interested in exploring opportunities to offer residential rehabilitation loan financing and other community reinvestment activities. These resources are available on https://occ.gov. Banks interested in learning more about these opportunities may contact the OCC’s District Community Affairs Officers located throughout the nation.

Related Links

Media Contact

William Grassano
(202) 649-6870

IR Press

Share
Published by
IR Press

Recent Posts

Treasury Issues Final Rule Expanding CFIUS Coverage of Real Estate Transactions Around More Than 60 Military Installations

WASHINGTON – Today, the U.S. Department of the Treasury (Treasury), as Chair of the Committee…

2 days ago

U.S. Department of the Treasury’s CDFI Fund and Federal Housing Finance Agency Collaborate to Bolster CDFI Access to Capital

WASHINGTON—Today, the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) and…

2 days ago

Report on U.S. Portfolio Holdings of Foreign Securities at Year-End 2023

Washington – The findings from the annual survey of U.S. portfolio holdings of foreign securities…

3 days ago

READOUT: U.S. Department of the Treasury Hosts Roundtable Discussion on the Financial Sector’s Response to Recent Hurricanes

WASHINGTON – The U.S. Department of the Treasury hosted a roundtable on October 30 with…

3 days ago

READOUT: Sixth Meeting of the Financial Working Group Between the United States and the People’s Republic of China

WASHINGTON – The United States and the People’s Republic of China held the sixth meeting…

3 days ago

Treasury Sanctions Key Members of La Linea, a Group Involved in Trafficking Fentanyl into the United States

WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned…

3 days ago