Members of the Housing Assets & Lending Committee:
- Serve as a sounding board for HomeSource and lending programs. P
- rovide input regarding equity and opportunity for operation or expansion of service regionally.
- Serve as a sounding board for staff related to expansion/extension of services related to asset- and skill- building for low- and moderate-income individuals and families.
- Implement the lending policy approved by the board.
- Review monthly and annually the performance of the loan portfolio.
- Recommend to the board threshold criteria below which staff may issue loan approvals.
- Approve loans on behalf of the board up to limits imposed, if any, by the board.
- Approve the loan rate sheet.
- Quarterly, review and approve all fees to be charged in connection with loans.
- Recommend a bad debt allowance to the board annually.
- Approve thresholds for considering bad debt write off and will recommend bad debt write offs above the threshold up to the allowance approved by the board.
- Approve loan modifications.
- Ensure that the lending program is compliant with applicable laws and regulations.
- Work closely with the board, senior staff and lending director to ensure the operation of an efficient and effective loan program that meets the needs of the poor and distressed, which meets its ongoing expenses and obligations in a timely manner and which returns income to NeighborImpact for furtherance of its charitable purposes.
Interested individuals seeking a seat on the Board of Directors or one of its committees should submit an application describing their qualifications, interests and overall community involvement.