For more  information, click on the links below

 

Home Mortgage Disclosure Act (HMDA)

Fair Lending (FL)

Community Reinvestment Act

Lehman Brothers Bank CRA Investments and Donations

To view our CRA information select a title from below

2008
  • Donation to Wilmington Youth Rowing Association, Wilmington, DE
    • Lehman Brothers Bank supports the Wilmington Youth Rowing Association’s (‘WYRA”) Row For It! summer rowing camp. The mission of the WYRA is to introduce the team sport of rowing to area youth, many of whom are deemed “at risk” because of the neighborhoods in which they reside or because of a fragile family structure. Through donations, the WYRA is able to uphold its mission and allow low- and moderate-income youth to participate in the summer camp program by waiving the attendance fee. Many of the camp attendees have been recruited by and received rowing scholarships to leading colleges and universities

      Wilimngton Youth Rowing Association.

  • Donation to the New Jersey Community Development Corporation, Paterson, NJ
    • Lehman Brothers Bank supports the New Jersey Community Development Corporation (“NJCDC”). NJCDC is a private, non-profit community development and social service agency founded in 1994 and based in the city of Paterson, NJ. NJCDC develops and operates supportive housing for individuals with special needs, including the developmentally disabled, the mentally ill, and youth aging-out of foster care. In addition, NJCDC operates education and job training programs for residents of the city.

      New Jersey Community Development Corporation, Paterson, NJ

  • Donation to Housing and Neighborhood Development Services, Inc., NJ
    • Lehman Brothers Bank has contributed significantly to Housing and Neighborhood Development Services, Inc. (“HANDS”). HANDS is a non-profit organization committed to the revitalization of neighborhoods in Orange and East Orange, New Jersey. The stated mission of HANDS is to keep Orange and East Orange “good places to raise a family.” Their strategy is built upon a working philosophy that neighborhoods are revitalized by the actions of hundreds of individuals investing their time, funds, energy and hopes in the future of that neighborhood.

      New Jersey Community Development Corporation, Paterson, NJ

  • Donation to West End Neighborhood House Cornerstone West Program, Wilmington, DE
    • Lehman Brothers Bank contributes annually to the Cornerstone West Program, the housing component of the West End Neighborhood House in Wilmington, DE. Additionally, the Bank continues to support Cornerstone's individual development accounts program ("IDAs"). The Cornerstone West Program revitalizes neighborhoods that have been in decline within the city of Wilmington by purchasing, rehabilitating and reselling homes. The homes are sold to first time homebuyers that qualify as having low-moderate income and who have successfully completed credit and homeownership counseling.   

      West End Neighborhood House

  • Donation to West End Neighborhood House Security Deposit Loan Program, Wilmington, DE
    • Lehman Brothers Bank supports the West End Neighborhood House Loan Security Deposit Program in Wilmington, DE. The program helps families statewide by providing the needed monies to relocate into safe, affordable housing. Relocation costs can include security deposits, utility deposits and moving vendors. The program also offers full case management and assistance with credit establishment/re-establishment.   

      West End Neighborhood House


2007
  • Donation to the Women’s Venture Fund, NJ/NY
    • Lehman Brothers Bank supports the Women’s Venture Fund (“WVF”), a non-profit organization that targets women entrepreneurs in underserved urban communities in the New York and New Jersey greater metropolitan area. The WVF offers training, small business loans and a network of business advisors to help women reach their business goals.

      Women’s Venture Fund, NJ/NY


  • Donation to the Women’s Institute for Housing and Economic Development, MA
    • Lehman Brothers Bank has contributed to the Women’s Institute for Housing and Economic Development. The organization’s mission is to build affordable housing that fosters economic security for low-income women and families. Since 1981, the Women’s Institute has worked with over forty organizations to develop transitional and permanent housing while integrating supportive services as well.

      Women’s Institute for Housing and Economic Development, MA


  • Donation to the Fenway Community Development Corporation, MA
    • Lehman Brothers Bank contributed funds to the Fenway Community Development Corporation in the Fenway neighborhood of Massachusetts. The organization engages residents in community planning, developing affordable housing and advocating for community services aimed at meeting the needs of low- and moderate-income residents.

      Fenway Community Development Corporation, MA

  • Donation to the Asian Community Development Corporation, MA
    • Lehman Brothers Bank has contributed to the Asian Community Development Corporation (“ACDC”). ACDC serves the Asian American community of greater Boston by developing physical community assets, including affordable housing for rental and ownership; promoting economic development; fostering leadership development; building capacity within the community and advocating on behalf of the community. ACDC has built over $100 Million in mixed-income affordable housing development in the past 20 years.

      Asian Community Development Corporation, MA


  • Donation to the Metropolitan Boston Housing Partnership, Boston, MA
    • Lehman Brothers Bank contributed funds to the Metropolitan Boston Housing Partnership (‘MBHP”). The MBHP helps individuals and families to find and retain affordable housing and is the state’s largest regional provider of rental voucher assistance, service homeless, elderly, disabled, and low- and moderate-income residents.

      Metropolitan Boston Housing Partnership, Boston, MA

  • Donation to the Massachusetts Non-Profit Housing Association, MA
    • Lehman Brothers Bank has contributed to the Massachusetts Non-Profit Housing Association (“MNPHA”). MNPHA groups provide the following services: affordable housing development, housing rehabilitation, homeless services, homebuyer training programs, rental assistance, rental property owner training, property management for affordable housing units and housing technical assistance to local communities, housing authorities and other nonprofit agencies.

      Massachusetts Non-Profit Housing Association, MA


  • Donation to the Citizen’s Housing and Planning Association, MA
    • Lehman Brothers Bank supports the Citizen’s Housing and Planning Association (“CHAPA”). CHAPA’s mission is to encourage the production and preservation of housing that is affordable to low-income families and individuals. The organization pursues its goals through advocacy with local, state and federal officials; research on affordable-housing issues; and education and training for organizations and individuals.

      Housing and Planning Association, MA


  • Donation to the Massachusetts Association of Community Development Corporations, MA
    • Lehman Brothers Bank contributed funds to the Massachusetts Association of Community Development Corporations (“MACDC”). The MACDC supports and advances the affordable housing, economic development and community-building strategies of its members, which includes 80 Community Development organizations across the state.

      Massachusetts Association of Community Development Corporations, MA

  • Donation to the Massachusetts Affordable Housing Alliance, Boston, MA
    • Lehman Brothers supports the Massachusetts Affordable Housing Alliance (“MAHA”). MAHA is a statewide non-profit group that works to encourage state government and businesses to invest more money in affordable housing. The organization has educated over 13,000 homebuyers through their Homeownership University program.

      Massachusetts Affordable Housing Alliance, Boston, MA


  • Donation to Housing and Neighborhood Development Services, Inc., NJ
    • Lehman Brothers Bank has contributed significantly to Housing and Neighborhood Development Services, Inc. (“HANDS”). HANDS is a non-profit organization committed to the revitalization of neighborhoods in Orange and East Orange, New Jersey. The stated mission of HANDS is to keep Orange and East Orange “good places to raise a family.” Their strategy is built upon a working philosophy that neighborhoods are revitalized by the actions of hundreds of individuals investing their time, funds, energy and hopes in the future of that neighborhood.

      Housing and Neighborhood Development Services, Inc., NJ

  • Donation to the New Jersey Community Development Corporation, Paterson, NJ
    • Lehman Brothers Bank supports the New Jersey Community Development Corporation (“NJCDC”). NJCDC is a private, non-profit community development and social service agency founded in 1994 and based in the city of Paterson, NJ. NJCDC develops and operates supportive housing for individuals with special needs, including the developmentally disabled, the mentally ill, and youth aging-out of foster care. In addition, NJCDC operates education and job training programs for residents of the city.

      New Jersey Community Development Corporation, Paterson, NJ


  • Donation to Wilmington Youth Rowing Association, Wilmington, DE
    • Lehman Brothers Bank supports the Wilmington Youth Rowing Association’s (‘WYRA”) Row For It! summer rowing camp. The mission of the WYRA is to introduce the team sport of rowing to area youth, many of whom are deemed “at risk” because of the neighborhoods in which they reside or because of a fragile family structure. Through donations, the WYRA is able to uphold its mission and allow low- and moderate-income youth to participate in the summer camp program by waiving the attendance fee. Many of the camp attendees have been recruited by and received rowing scholarships to leading colleges and universities

      Wilmington Youth Rowing Association

  • Donation to West End Neighborhood House Security Deposit Loan Program, Wilmington, DE
    • Lehman Brothers Bank supports the West End Neighborhood House Loan Security Deposit Program in Wilmington, DE. The program helps families statewide by providing the needed monies to relocate into safe, affordable housing. Relocation costs can include security deposits, utility deposits and moving vendors. The program also offers full case management and assistance with credit establishment/re-establishment.   

      West End Neighborhood House


  • Donation to West End Neighborhood House Cornerstone West Program, Wilmington, DE
    • Lehman Brothers Bank contributes annually to the Cornerstone West Program, the housing component of the West End Neighborhood House in Wilmington, DE. Additionally, the Bank continues to support Cornerstone's individual development accounts program ("IDAs"). The Cornerstone West Program revitalizes neighborhoods that have been in decline within the city of Wilmington by purchasing, rehabilitating and reselling homes. The homes are sold to first time homebuyers that qualify as having low-moderate income and who have successfully completed credit and homeownership counseling.   

      West End Neighborhood House

Previous Donations


Lehman Brothers Bank (the “Bank”) and its Board of Directors are fully committed to upholding the principles underscored in the Community Reinvestment Act, and will continue to diligently seek innovative solutions to meet the credit needs of its local and national communities.

What is the Community Reinvestment Act (CRA) ?

The purpose of the Community Reinvestment Act ("CRA") is to encourage each financial institution to help meet the credit needs of the communities in which it operates.  The Office of Thrift Supervision ("OTS") is responsible for assessing compliance of federal savings banks.  Specifically, CRA establishes a framework and criteria by which the OTS assesses a federal savings bank’s record of helping to meet the credit needs of its entire community, including low- and moderate-income neighborhoods, consistent with safe and sound operations, and provides that the OTS take that record into account in considering certain applications.

 

CRA Resources

 

Federal Financial Institutions Examination Council (FFIEC)

The Federal Reserve Board

Office of Thrift Supervision

CRA Exams and Ratings

Periodically the OTS will examine a savings institution to ensure that its CRA program is meeting the needs of its communities.  In general, the OTS conducts a CRA examination of a large savings association every 24 months. 

A federal savings bank must prepare a CRA Statement that:

  • Delineates the communities it serves (i.e., one or more assessment areas within which the OTS will evaluate its record of helping to meet the credit needs of its community); and

  • Sets forth the specific types of loans it is prepared to offer in those communities.

Lehman Brothers Bank CRA Program

Through its Community Reinvestment Act Program (the “CRA Program”), the Bank recognizes its affirmative and ongoing obligation to help meet the credit needs of its communities, including low-moderate income neighborhoods.  The CRA Program addresses the Bank’s plans with respect to the following: 

  • Residential mortgage lending by the Bank and its affiliates to low-moderate-income borrowers and neighborhoods within its local and national communities;

  • Programs by the Bank and its affiliates which foster investment in the community development projects within the Bank’s local communities and the broader state and regional areas that include such local communities;

  • Community service programs by the Bank and its affiliates which benefit the Bank’s local community and broader state and regional areas that include such local communities; and

  • Programs by the Bank and its affiliates which benefit the Bank’s national community

The CRA Program also incorporates and implements Lehman Brothers’ basic philosophy with respect to corporate philanthropy, which is to improve the quality of life in the communities in which its clients, customers and employees live and work, both through financial and volunteer support of a variety of educational, social service, healthcare and cultural organizations.  In this regard, the Bank encourages each of its employees to support Bank sponsored or approved community activities through charitable contributions and/or volunteer efforts. 

The Board of Directors of the Bank is familiar with the CRA, the implementing regulations and the CRA Program. The Bank’s Board has pledged significant resources for community reinvestment. The Bank has established a CRA Committee that meets monthly to monitor the CRA Program and actively seeks new opportunities for investment. The committee performs due deligence on all potential recipients of investments or donations to ensure that they incorporate Lehman Brothers' basic philosophy with respect to corporate philanthropy.

The Bank operates in three distinct communities:

  •  Wilmington, Delaware and environs  

  • Jersey City, New Jersey and environs

  • Nationally

The local assessment areas for all branches have been drawn completely on political boundary lines. The scope of the local assessment area delineations will be reviewed regularly, and boundaries will be adjusted where and when appropriate.  Because the Bank has a national business strategy, it also has a national community to serve. The Bank originates and acquires residential mortgage loans from all fifty states.

Lehman Brothers Bank works with a wide variety of associations to perform beneficial acts for the communities in our local assessment areas and nationwide.

Copies of the CRA Statement and most recent CRA Performance Evaluation are made publicly avialable at the Bank's home office in Delaware.

 
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