Community Development Investment & Lending Policies
Investment and lending policies define products (and pricing) to be offered,
risk management procedures to be followed, and procedures to insure compliance
with regulatory requirements. They can also serve as a training and
reference manual for recently hired staff.
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Vine & Associates did a comprehensive re-write
of community development lending and investing policies for Capital One
Financial. The effort covered products ranging from investments in low
income housing tax credit funds, to real estate secured loans (including
appraisal and environmental policies), to investments in CRA-qualified
marketable securities.
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V&A has also written specific polices and
provided critical reviews of existing polices for the California Bank &
Trust and CCRC.
Portfolio Analysis & Management
 Portfolio analyses are
required to understand risk exposures, to assess progress in meeting growth and
management objectives, and to be able to demonstrate the unit's results, credit
culture and management skills. Portfolio analyses can also inform
valuation and accounting analyses. The ultimate purpose of the analysis is
to make recommendations for portfolio management which may involve changing
policies and re-orienting marketing efforts.
Vine & Associates does an annual comprehensive analysis of CCRC's mortgage
and tax-exempt bond portfolios. You can download an example of this report
at the bottom of the Who We Are page. V&A has
completed a similar analysis for California Bank & Trust.
Evaluating Loans & Investments
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V&A critically reviews all
of CCRC's $80 million annual production of affordable multifamily mortgages
and tax-exempt bonds before they go to its loan committee.
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V&A has underwritten $48
million of investments in Low Income Housing Tax Credit funds for Capital
One Financial.
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V&A has provided
underwriting advice to Impact Community Capital regarding difficult or
complicated affordable multifamily mortgages on projects outside of
California.
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V&A provided consulting
services to SunAmerica Affordable Housing Partners on the restructuring and
GP replacement for 12 LIHTC partnerships located throughout the western
United States.
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