Agencies release list of distressed or underserved non-metropolitan middle-income geographies – NMP Skip to main content

Agencies release list of distressed or underserved non-metropolitan middle-income geographies

NationalMortgageProfessional.com
Jun 09, 2009

The federal bank and thrift regulatory agencies has announced the availability of the 2009 list of distressed or underserved non-metropolitan middle-income geographies in which revitalization or stabilization activities will receive Community Reinvestment Act consideration as "community development." "Distressed nonmetropolitan middle-income geographies" and "underserved nonmetropolitan middle-income geographies" are designated by the agencies in accordance with their CRA regulations. The criteria used to designate these areas are available on the Federal Financial Institutions Examination Council (FFIEC) Web site (www.ffiec.gov/cra). The designations reflect local economic conditions, including such triggers as unemployment, poverty, and population changes. As with past releases, the 2009 list will incorporate a one-year lag period for geographies designated as distressed or underserved in 2008, but not designated as such in the 2009 release. Geographies subject to this one-year lag period are eligible to receive consideration for community development activities for 12 months after publication of the 2009 list. The 2009 list and lists from previous years can be found on the FFIEC Web site, along with data source information used to generate the list of distressed or underserved geographies. To view the List of 2009 Distressed or Underserved Non-metropolitan Middle-Income Geographies Source Information and Methodology, click here. To view the 2009 List of Middle-Income Non-metropolitan Distressed or Underserved Geographies, click here. For more information, visit www.ffiec.gov.
Published
Jun 09, 2009
CRA Impact May Not Be As Profound As Feared

CFPB Director Rohit Chopra tells MBA conference changes shouldn’t be difficult

Regulation and Compliance
May 17, 2022
A UDAAP Expansion

The CFPB’s new memo about consumer complaints

Regulation and Compliance
May 17, 2022
Builders, Lenders Praise Biden Plan To Improve Housing Supply

'Housing Supply Action Plan' seeks to improve affordability by increasing housing inventory over the next five years.

Regulation and Compliance
May 17, 2022
Trigger Leads Could Be Outlawed In Mortgage Industry

N.Y. congressman says selling the information increases risk of fraud, ID theft.

Regulation and Compliance
May 17, 2022
Georgia Governor Signs New Mortgage Licensing Law

Lessens impact on hiring of out-of-state employees with criminal records

Regulation and Compliance
May 10, 2022
10,000 NAHB Members Sign Letter To Biden Seeking Housing Market Help

The letter cites rapidly rising interest rates, rising home prices and rents, and the rising cost of lumber and building materials for significantly decreasing housing affordability.

Construction
May 02, 2022