Credit Crisis Hampers Econ Recovery
CRBRA asks all members to call Senators Schumer and Gillibrand now to ask their support for HR 5297 which was passed in the House and sent to the Senate on June 29.
There is a severe shortage of acquisition, development and construction (AD&C) loans for small builders resulting from overzealous bank examiners. We understand the need to do a thorough review of the ability to repay, but an over correction to the recent credit problem will kill any chances for a strong recovery.
We also ask CRBRA members to call their Member of Congress to urge the Federal Reserve to rein in the bank examiners. The message has to be clear and strong: The lack of credit for AD&C financing is a serious problem that must be resolved now. Regulators need to issue more flexible guidelines that will encourage banks to maintain funding for AD&C loans in good standing that fall below their underlying value.
Author: CRBRA Admin | On: July 07, 2010 | In: Members · Consumers | No Comments
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CRBRA - 1202 Troy-Schenectady Road, Latham, NY 12110
Phone: 518.690.0766 | Fax: 518.690.0767
