Filed under Mercy Loan Fund Advocacy

“Restart the Clock” on the CDFI Bond Guarantee Program

Mercy Loan Fund President Julie Gould signed on to the following letter supporting key CDFI programs: Delays in implementation have cost the CDFI industry two, and possibly three, years of the id=”mce_marker” billion per year available through the CDFI Bond Guarantee Program created in 2010. Join Opportunity Finance Network in urging Treasury Secretary Tim Geithner … Continue reading

Extend the New Markets Tax Credit

Mercy Loan Fund President Julie Gould signed on to the following letter supporting key CDFI programs: The New Markets Tax Credit expired at the end of 2011. Without Congressional action, distressed markets across America and the institutions that invest private capital in them will be deprived of this critical resource. LETTER TO CONGRESS ON NMTC: … Continue reading

Mercy Loan Fund receives $1.45 Million financial assistance award from U.S. Treasury’s CDFI Fund

Mercy Loan Fund, a subsidiary of Mercy Housing Inc., announced today that it has received a $1.45 million financial assistance award from the United States Treasury’s Community Development Financial Institutions (CDFI) Fund.  The funds will provide financing to affordable housing projects in low-income and distressed communities. Mercy Loan Fund was one of 99 organizations selected … Continue reading

HUD’s Small Multifamily Property Risk-Share proposal

This letter summarizes our recent response to a HUD proposal to engage CDFIs on preserving small, unsubsidized rental projects. “Naturally affordable” multifamily properties of less than 50 units account for a much greater proportion of the affordable housing stock than government-assisted housing. For a mechanism, HUD proposed that GNMA-servicer-certified CDFIs would provide permanent debt for … Continue reading

CDFI Bond Guarantee Program

Mercy Loan Fund recently signed on to this letter encouraging the House of Representatives to include a technical fix to the CDFI Bond Guarantee Program (CBGP) language in the upcoming 6-month Continuing Resolution that will allow the government to fulfill its financial obligations despite not passing a budget. The CBGP This language adds NO COST … Continue reading