HOUSING PARTNERSHIP
From: Lisa Fisher Henderson [mailto:lisa@seacoastwhc.org]
Sent: Friday, October 01, 2004 11:55 AM
To: Comments
Cc: Martha Yager
Subject: Community Reinvestment -- RIN 3064-AC50
October 1, 2004
Robert E. Feldman
Executive Secretary
Attention: Comments/Legal ESS
Federal Deposit Insurance Corporation
550 17th Street, NW.
Washington, DC 20429
Dear Mr. Feldman:
The Housing Partnership is a nonprofit affordable housing developer
in the Seacoast region of New Hampshire and Maine which also offers
homebuyer educations courses to encourage homeownership among low-income
households. We encourage you to withdraw your proposed changes to the
Community Reinvestment Act (CRA) regulations. CRA has been instrumental
in increasing homeownership, boosting economic development, and
expanding small businesses in the nation's minority, immigrant, and low-
and moderate-income communities. Your proposed changes are contrary to
the CRA statute and Congress' intent because they will slow down, if not
halt, the progress made in community reinvestment.
The Community Reinvestment Act is a critical component to our
community's affordable housing and community development solutions. We
oppose any increase to the threshold of what is considered to be small
bank. The proposed FDIC rule would exempt many of our community's
critical partners from the effective and productive requirements
currently in place. We urge FDIC to withdraw its proposed rule.
The Housing Partnership needs more partners, not less, and we fear an
erosion of CRA will further reduce limited funding and financing
opportunities of the creation of much-needed affordable housing.
Sincerely,
Lisa Henderson
Interim Director
The Housing Partnership
1555 Islington Street Portsmouth, NH 03801
(603) 766-3131
Cc: National Community Reinvestment Coalition
President George W. Bush
Senators John Kerry and John Edwards
Senator John Sununu
