MA Division of Banks Issues Ch. 206 RFP, Broadens Eligibility to Include All Certified CDCs

The MA Division of Banks (DOB) has posted the RFP for grant funding in support of first-time homeownership counseling programs and for regional foreclosure education centers, under Chapter 206 of the Acts of 2007. MACDC’s advocacy was pivotal to passage of the law, which also for the first-time regulated Massachusetts non-bank lenders. 

Eligibility, submission, and other important details are available in the bid RFP.  To access the bid visit www.commbuys.com, enter bid number ‘69422’ in the top search bar and click the search button. For easy reference, here is the RFP

In prior years, eligible applicants were limited to those previously awarded Chapter 206 funding. We heard from several MACDC Members who provide homebuyer education and/or foreclosure prevention counseling, and were not eligible to apply for Chapter 206 funding by virtue of not being awarded grants in prior years.  In response, we recommended to DOB that they broaden eligibility to include certified CDCs and organizations who are recipients of the Collaborative Seal of Approval by the Massachusetts Homeownership Collaborative.  DOB accepted our recommendation, and broadened eligibility. 

All proposals are due no later than January 14, 2022. If you have any questions pertaining to the RFP, they must be submitted to DOB via e-mail to chapter206grants@mass.gov before 5pm January 6, 2022.