The Community Development Financial Institutions Fund is seeking comments on its process for certifying an organization as a Community Development Financial Institution as it works to assess whether changes are needed, given the changing nature of the industry and the rapid increase of certified CDFIs. The current application process involves seven tests for which applicants must supply legal documentation, narratives and financial data, as well as an annual recertification requirement. Comments are due 60 days after the notice is published in the Federal Register. Read the request for comment.
ABA, associations seek clarity about Fannie, Freddie credit scoring change
The recent announcement that Fannie Mae and Freddie Mac will expand credit scoring options for mortgages is a promising first step in creating a scoring system to better serve creditworthy Americans, but there remain several questions about how...