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#1821230 - 06/06/13 08:34 PM Can a refinance be a Community Development Loan?
mgs41 Offline
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Joined: Jan 2007
Posts: 167
I'm reviewing a $750,000 refinance to a for-profit(our bank was not the original lender) for 6 unit apartment complex in a qualifying income area. Because this is only a refinance this does not qualify as a CD loan correct?

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CRA
#1821303 - 06/06/13 11:09 PM Re: Can a refinance be a Community Development Loan? mgs41
Kathleen O. Blanchard Offline

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Kathleen O. Blanchard
Joined: Dec 2000
Posts: 21,293
If a loan qualifies as community development, refinances that increase the $ or extend the maturity are reported.
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#1821324 - 06/07/13 12:21 PM Re: Can a refinance be a Community Development Loan? mgs41
mgs41 Offline
100 Club
Joined: Jan 2007
Posts: 167
Thank you for the clarification.

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