Bank Assetpoint Creates Opportunities to Meet CRA Requirements
A Community Bank in the South Develops an Ongoing Relationship with a Source for Hard-to-Find Assets
- A community bank in the South needed loans to meet its CRA lending requirements.
- At the same time, a loan sale advisory firm that specializes in the sale of residential whole loans used Bank Assetpoint to profile its areas of expertise, including creating loan pools based on a bank’s CRA requirements.
- The bank’s board approved the purchase of $6 million in CRA loans through the loan sale advisory firm, marking the beginning of a longer-term relationship.The loan sale advisory firm continues to identify loans for the bank that fall within the bank’s specific geographic requirements.
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