Community Reinvestment Act Resources
Self-Assessment Guide to CRA (Community Investment) for Mortgage Lenders from Division of Banks
In 2007, the Division of Banks established 209 CMR 54.00 to carry out the mortgage lender community investment purposes required by M.G.L. c. 255E, § 8. Through the statute and regulation, mortgage lenders originating 50 or more HMDA reportable loans in Massachusetts are assessed on their record of meeting the credit needs of the Commonwealth, including low and moderate income neighborhoods and individuals when originating residential loans and acquiring loan portfolios within the Commonwealth. This self-assessment guide is intended for mortgage lenders, CEOs, senior officers, CRA and compliance officers to consider as a helpful reference for CRA compliance. P lease refer to official legal citations, M.G.L. 255E § 8 and 209 CMR 54.00; for additional regulatory guidance refer to Regulatory Bulletin 1.3-105 Alternative CRA Examination Procedures. The report can also be viewed via the Division of Banks website here.