10 hours ago · Bank of America has an SPCP called the "Community Affordable Loan Solution" for first-time homebuyers that offers zero down-payment and zero closing-cost mortgages. …

The SPCP offers an industry specific exam to achieve CPCP status. This designation satisfies USA state licensing and is also recognized world-wide.

6 hours ago · The end of special purpose credit programs could limit targeted financial assistance options for underserved or disadvantaged groups.

Sample checklist, resources, and case study for SPCP using market and lender data. SPCPs are targeted lending products designed to specifically advantage an economically disadvantaged …

Special-purpose credit programs allow borrowers from underserved populations a chance for certain benefits in qualifying for a mortgage. Read on for details!

SPCP Basics. What is a Special Purpose Credit Program? Regulatory Guidance on SPCPs; Webinar Resources; Why SPCPs are needed. History & Background Presentation by NFHA; …

Feb 22, 2022 · On December 6, 2021, HUD’s Office of General Counsel issued a legal opinion on the Fair Housing Act’s treatment of certain SPCPs that are designed and implemented in …

Jul 19, 2022 · Joint SPCP initiative. The interagency statement calls attention to these programs as one way to expand access to critical financial services, including mortgage lending. Recent …

Nov 14, 2024 · Many credit unions offer special lending programs that may meet the spirit and intent of a SPCP. Affordable and equitable access to credit is a vital aspect of credit union …

Jun 29, 2023 · But What Exactly is a Special Purpose Credit Program (SPCP)? In simple terms, it is a targeted financial solution tailored to the unique challenges faced by low to moderate …