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TIERRA DEL SOL HOUSING CORPORATION
From: Rose Garcia [mailto:tdsgarcia@ziagold.net]
Sent: Friday, September 17, 2004 6:06 PM
To: Comments
Subject: RIN 3064-AC50, Comments on FDIC Proposed CRA Regulatory Changes
TIERRA DEL SOL HOUSING CORPORATION
P.O. Box 129
San Miguel, NM 88058
Email: tdsgarcia@ziagold.net
September 11, 2004
Robert E. Feldman, Executive Secretary
Federal Deposit Insurance Corporation
550 17th Street, NW
Washington, D.C. 20429-990
ATTENTION: Comments/Legal ISS
RE: RIN 3064-AC50
Dear Mr. Feldman:
I request that the FDIC not change the regulations to reduce the
number of banks requiring complete CRA examinations. The proposed change
will result in denying access to affordable financing for homeownership
and other types of housing needed by persons that earn low to moderate
income in “middle and particularly rural America.”
I represent an organization that has produced 4,500 units of
affordable housing and community development infrastructure. This
includes providing homeownership in New Mexico and west Texas along the
U.S. and Mexico border. Our many community leaders and customers object
to the proposed changes, as it jeopardizes loans and investments for our
customers, industry workers and housing markets that most need the
opportunity for financing. It also deters public confidence with local
financial institutions.
The FDIC has significant authority to effect fairness and equity in
authorizing distribution and access to financing. The proposed
regulatory change is not consistent with this authority and President
Bush’s expressed commitment to provide homeownership opportunity in New
Mexico, west Texas and throughout America. If you want to discuss this
subject with me more, please call 505/233-2923.
Respectfully,
Rose Garcia
Executive Director
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