CRA Roundtable on “The Financial Crisis and CRA”
The Affordable Housing Clearinghouse invites lenders, community groups, and other interested parties to join us for a roundtable discussion on the Financial Crisis and the Community Reinvestment Act (CRA). The CRA is a law passed in 1977 to counter lending discrimination and disinvestment in low-income communities. CRA requires banks to provide lending, investment, and service to areas in which they do business. CRA has resulted in measurable benefits to low-income communities since its enactment.
With the current financial crisis, CRA activities are being affected by bank failures and acquisitions as well as restricted access to credit. In addition, there have been contentions that CRA may be partially responsible for the financial crisis because it pushed banks to provide loans to risky borrowers. At the CRA Roundtable, we will address what the financial crisis means for CRA as well as get input from the community.
A continental breakfast will be provided.
Wednesday, January 14, 2009 9:30 to 11:30 AM USC Orange County Center 2300 Michelson Drive, Irvine, CA 92612 Speakers: Melody Winter Nava, Regional Manager – Southern California, Federal Reserve Bank of San Francisco Armando de la Libertad, Senior Vice President, Wells Fargo RSVP: (949) 859-9255 or info@affordable-housing.org
AHC welcomes Dan Carrier and Tim Epton to Board of Directors
The Affordable Housing Clearinghouse is pleased to welcome two new members to our Board of Directors. Dan Carrier is Vice President at US Bank and is responsible for commercial banking business development. Dan has over 28 years of experience in treasury, finance, and accounting. Tim Epton is Regional Manager of the Southern Coastal Region for Comerica Bank. Tim directs activities for 96 banking centers in the western market, which is ranked no. 1 in sales nationally for Comerica Bank.
The Affordable Housing Clearinghouse also thanks Board members Joanne Senefsky and Art Zaino for their service on the Board. Joanne and Art recently stepped down from the Board to pursue other opportunities.
AHC thanks our 2008 supporters
The Affordable Housing Clearinghouse would like to thank the following partners for their generous support of our programs and services in 2008:
Bank of America Bank of the West California Bank & Trust California National Bank CapitalSource Bank Citibank City National Bank Clearinghouse CDFI Comerica Bank Downey Savings Farmers & Merchants Bank First Bank First Bank of Beverly Hills First Federal Bank Fremont Investment & Loan Mellon 1st Business Bank US Bank Wachovia Washington Mutual Wells Fargo Wells Fargo Housing Foundation
2009 Affordable Housing Awards Breakfast
The date of the next Affordable Housing Awards Breakfast has been set for Friday, March 20th. Sheila Crowley, President of the National Low Income Housing Coalition, will be honored for NLIHC’s leadership on the recently enacted Housing Trust Fund. The breakfast will take place at 7:30 AM at the Garden Grove Community Center. For information, please call Orange County Community Housing at (714) 558-8161.
For more information on the Housing Trust Fund, please click here or visit NLIHC’s website.
Children and Families Commission to provide $10 million for transitional shelter
The Children and Families Commission of Orange County has allocated $10 million to expand transitional housing projects and related services. The Commission is developing a partnership with the Affordable Housing Clearinghouse to provide loan funds for such projects.
The Affordable Housing Clearinghouse was formed to work with housing organizations and lenders to facilitate financing and provide technical assistance for housing development. We hope to leverage the Commission funds with loans from our lender members and our direct lending affiliate, the Clearinghouse CDFI. When the funds become available, the Affordable Housing Clearinghouse plans to provide technical assistance and workshops to help housing organizations to apply.
The Children and Families Commission of Orange County oversees the allocation of funds from Proposition 10 that add a 50-cent tax on tobacco products sold in California to fund education, health care and child development programs for children from the prenatal stage to age five and their families with the goal to ensure all children are healthy and ready to learn when they enter school. For more information, please visit www.occhildrenandfamilies.com.
AHC wishes you a prosperous 2009!