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Encore Bank outlines CRA-focused mortgage and small-business programs for Pinellas and Hillsborough
Summary
Jose Bello, Encore Bank's CRA/community outreach officer, described mortgage products that include high LTV financing, down-payment grants from a Bank of Dallas partnership, an ITIN program for noncitizen borrowers, and small-business lines or loans tied to local deposit relationships and CRA assessment areas covering Pinellas and Hillsborough.
At a Clearwater Community Redevelopment Agency meeting, Jose Bello, community outreach officer for Encore Bank, described the bank's Community Reinvestment Act (CRA) work and products targeted to low- and moderate-income census tracts in Pinellas and Hillsborough counties.
Bello said Encore is assessed by federal regulators under the CRA and focuses lending and community programs in geographic assessment areas that include parts of Pinellas and Hillsborough. He said the bank offers mortgage products that in some cases provide high loan-to-value financing (up to 100 percent financing) for homes with purchase prices up to $550,000, with no private mortgage insurance (PMI) on the highest-LTV product. He also described a down-payment grant partnership (a tranche provided through a Federal Reserve Bank partner…
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