Brokering Network
Several CDCs in the Memphis area have partnered with Seedco, the national economic development intermediary, to form a mortgage loan network. Members can either create their own mortgage brokerages or refer clients to other members. They agree to charge fees set by the network, which will be lower than those of for-profit brokers. The idea is to enable small CDCs to offer mortgage loans, without worrying that they will not have enough volume to provide the service. (Seedco Fieldnotes, Summer 2006)
Alan Mallach, senior fellow of the National Housing Institute, is the author of many works on housing and planning, including Bringing Buildings Back and Building a Better Urban Future: New Directions for Housing Policies in Weak Market Cities. He served as director of housing and economic development for Trenton, N.J. from 1990 to 1999.
National Housing Institute
There are no comments on this article yet. Start the discussion below.
LOGIN register new account