Nonprofit Mortgage Brokers: Small Step or Large Leap?
Date Published: 04/01/2005
Author: Steven Hornburg with editing by Carol A. Bell
Publisher: LISC
This study illustrates the emerging trend among nonprofit organizations that are already promoting home ownership to reach more underserved families and communities by becoming mortgage brokers themselves. It identifies 34 nonprofits that are mortgage brokers and examines their ability to leverage their advantages to become better partners to market lenders. The analysis provides three lessons for nonprofits to serve as mortgage brokers and concludes that there are opportunities for developing more sophisticated business models that could attract more sustainable revenues.
Topics: Housing, --Affordable Housing Finance & Development
Type: Case study / model practice, Research paper