Overview

Good lending on multifamily apartment buildings is as necessary as bad lending is destructive; all neighborhoods need regular access to credit to keep the housing stock healthy, but irresponsible lending can make conditions worse for tenants. 

The Project

Overleveraging (lending more money than the building’s income can support) and lending to bad-actor landlords are just two examples of practices that often lead to displacement and harassment of tenants. 

ANHD uses our internal research and the activism of our broad networks of tenant organizers to advocate for all lenders to adopt a set of best practices to ensure their lending supports – and does not erode – decent and affordable sources of housing. This includes responsible underwriting, proper vetting of landlords, and staffing that works with tenants and the landlord to address issues as they arise after the loan is made.

Recents Blogs and Media

Blog
December 13, 2016
Last week, tenants living in a portfolio of 20 buildings in the Lower East Side owned by the notorious landlord Rafael Toledano took to the streets, accompanied by elected officials and a brass marching band, and marched from the headquarters of Madison Realty Capital to Signature Bank to call them out for financing Toledano. Irresponsible multifamily lending has real consequences.
Blog
June 23, 2016
The Association for Neighborhood and Housing Development (ANHD) is today releasing its annual report, State of Bank Reinvestment in NYC: 2015 analyzing how banks meet neighborhood credit needs and the local impact of the Community Reinvestment Act. ANHD has a deep appreciation of both the need for and the benefits of effective bank reinvestment and policies that hold banks accountable to help meet the credit needs of our at-risk communities.

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