“Special Purpose Credit Programs,” or SPCPs, are targeted lending products designed to specifically benefit some groups of Americans who have historically been denied credit due to discrimination.

Industry leaders are also watching for the potential impact of a directive from the Federal Housing Finance Agency that could bring an end to Special Purpose Credit Programs.

Trump Admin Targets Key Policy for Closing Gaps in Access to Home Loans and More More and more banks have been creating special purpose credit programs to help “economically disadvantaged” individuals ...

The KeyBank Neighbors First Crediti is a Special Purpose Credit Program that provides $5,000 toward closing costs and other pre-paid fees that may come with financing a new, owner-occupied home to ...

These pioneering loan programs, including first mortgages, down payment assistance, small business loans, and other consumer lending options, are designed to dramatically improve credit ...

SPCS is a tool that a growing number of lenders are adopting to help improve credit access for underserved groups. They have been around since the 1970s, but they’ve recently become a lot more ...

Webster Bank announced the launch of its first Special Purpose Credit Program (SPCP) aimed at expanding homeownership opportunities for low-to-moderate income (LMI) first-time homebuyers, and those ...

After regulators deemed special-purpose credit programs compliant with housing law, their numbers have grown, but lenders are still trying to determine the best way to develop them and achieve their ...

Columbia Bank has introduced "Advancing Access," a special purpose credit program that aims to advance homeownership in Jersey City, Paterson Newark, Camden and other communities statewide ...

This is the third special-purpose credit program at the bank following the launches of Key Opportunities Home Equity Loan and KeyBank Home Buyer Credit over the last year.

U.S. Bank is expanding access to homeownership with the launch of U.S. Bank Access Home Loan, a mortgage Special Purpose Credit Program (SPCP) that pr ...