In Des Moines, Iowa, the Invest Health team is working with residents in the 50314 ZIP code to improve neighborhood conditions that impact health. Located on the northern edge of downtown, 50314 has a 35% poverty rate with aging infrastructure and few businesses.Read Story
Reinvestment Fund and The Philadelphia Foundation announced the launch of PhilaImpactFund, a new place-based impact investment opportunity targeted to the Greater Philadelphia region. The Fund is believed to be a first-of-its-kind collaboration between a community foundation, The Philadelphia Foundation, and an asset manager that also originates community development loans, Reinvestment Fund. Each organization has committed $5 million toward PhilaImpact Fund’s $30 million goal.
PhilaImpact Fund offers an opportunity for investors to channel their capital into neighborhood development projects that support regional growth and local initiatives in the communities that need them the most. The Fund will support projects serving critical needs for people across the region promoting housing stability for low-income families, better health outcomes, higher educational attainment, greater access to fresh, healthy food, and more.Read More
Each year, lending institutions across the country report their mortgage lending activity under a law known as the Home Mortgage Disclosure Act (HMDA). Enacted by Congress in 1975 and amended several times since, HMDA data are a critical resource to understand how dollars flow into communities to support home purchasing, refinancing mortgages, or making home improvements. Regulators use HMDA for various purposes, which include assessments of lenders’ community reinvestment obligations and adherence to civil rights laws.
The 2016 HMDA data were recently released providing an opportunity to look at the local mortgage lending environment – trends in loan volume, the kinds of loans being made, where loans are made, how efficiently different groups can access credit, what entities purchase the home loans once made, and what lenders are originating mortgages in Philadelphia.