| |
OCC Announces A Web And Telephone Seminar on 504 |
|
|
 |
The Office of the Comptroller of the Currency has announced a seminar entitled “Small Businesses’ Window to Wall Street” to be held on Wednesday, January 31, 2007. Speakers include Barry Wides, Deputy Controller for Community Affairs; Peter Morgan, Executive Vice President, Zions Bank; Jean Wojtowicz, Executive Director, Indiana Statewide CDC; and Randy Christiansen, National Bank Examiner, with an introduction by John C. Dugan, Comptroller of the Currency.
The purpose of the web and telephone seminar is to help bankers understand the pricing and fee structure of the 504 program, identify the differences between the 504 and 7a programs, review the 504 program benefits for the bank and the borrower, and identify the separate roles of the bank and the CDC in the 504 program. Topics will include how the 504 program operates, identifying key risks and regulatory considerations, liquidity and the secondary market for first trust loans, providing successful examples, discussing how 504 helps to manage concentration risks, and outlining the CRA benefits of participating in the 504 program.
The fee is $115 per connection for each national bank listening site and $150 per connection for each non-national bank listening site. You may register via phone, mail, fax or on-line through the OCC.Or, you can participate in the call with Business Finance Group. We plan to host this call at several locations. More information will be mailed out in early January with specific location details.
|
|
| |
Under Utilized Fairfax County Home Improvement Loan Program (HILP) |
|
|
| |
The Fairfax County Department of Housing and Community Development provides a low interest rate program for health and safety improvements (correction of code violations, improve energy efficiency, connecting to public utilities, enhance the overall appearance of the house, or reduce continuous maintenance costs) for homes owned and occupied by low to moderate income residents. Loan sizes typically range from $10,000 to $30,000. This is an excellent opportunity for banks to refer these small loan requests for seniors and moderate income residents to a very beneficial loan program. The web site for additional information is www.fairfaxcounty.gov/rha/hilp.htm or you can call (703)246-5155 with questions.
|
|
|
| |
|
|
|
| |
|
|
|
