Special Purpose Credit Programs — Taking a Second Look at a Familiar Tool Austin Brown, Anand Raman, Darren Welch Skadden, Arps, Slate, Meagher & Flom LLP + Follow Contact ...

Rocket Mortgage expanded its special-purpose credit program that will offer a $3,000 credit for first-time homebuyers to use toward their downpayment in select cities. The Detroit-headquarterd ...

Through April 9, 2024, these Special Purpose Credit Programs have funded $10.2 million in home equity loans and $2.3 million in $5,000 credits to help 712 clients on their journey of homeownership ...

More banks have been offering special purpose credit programs (SPCP) to help homebuyers cover down payments and closing costs. TD Bank launched an SPCP in March called the TD Home Access Mortgage ...

Small business banking JPMorgan Chase takes special-purpose credit program national By Orla McCaffrey November 18, 2022, 10:09 a.m. EST 2 Min Read ...

Special purpose credit programs, Uejio said, are “also a recognition that government alone cannot solve this problem.” For the programs to have an impact — as Congress envisioned 45 years ...

The SBAExpress loan or line of credit is a flexible smaller loan up to $350,000 that a designated lender can provide to its borrower using mostly their own forms, analysis and procedures to ...

Giving a ‘hand up’: Special purpose credit programs gain traction with local lenders April 26, 2024 | Susan Orr Keywords Banking / Home Sales / Loans GET THE LATEST IBJ NEWS IN YOUR INBOX ...

Federal Agencies Issue Interagency Statement on Special Purpose Credit Programs Under ECOA, Regulation B by: Moorari Shah, A.J. S. Dhaliwal of Sheppard, Mullin, Richter & Hampton LLP - Consumer ...

Special Purpose Credit Programs can provide lenders with an effective way to serve minority groups who do not have access to generational wealth. June 27, 2022 2:05 pm ET ...

9/ Refer to "FHEO's Statement by HUD's Office of Fair Housing and Equal Opportunity on Special Purpose Credit Programs as a Remedy for Disparities in Access to Homeownership." 10/ Ibid. 11/ Ibid.

Consequently, before implementing a special purpose credit program, lenders may wish to obtain legal advice on a number of issues, including: (i) what constitutes a strong showing of need for the ...