- Customizable web-tool co-branded for each partner enabling clients to assess their mortgage readiness
- Loan shopping tool that searches and presents home loan options and down payment assistance programs
- Loan packaging service contracts for partner CDFIs and nonprofit organizations that help them sustainably serve underserved communities with access to affordable credit from a wide range of bank and GSE product investors
- Homebuyer education materials and curriculum, which also is also branded and adapted for each partnering organization
- Counseling agreements for on-going revenue support from Springboard CDFI through the NMC for each partnering HUD-approved housing counseling agency
- Training for the partner staff on operating systems, new mortgage and down payment assistance product offerings, mortgage readiness and loan packaging
With early-stage support from Citi Community Development and the Ford Foundation in 2016, the Springboard loan platform is already fully operational, licensed, and being used by Nationwide Mortgage Collaborative members in California, Texas, Florida, Arizona, and Illinois. In 2018, Springboard will continue onboarding and deploying licensed states, while pursuing more licensing and developing partnerships among nonprofit partners in: Colorado; Connecticut; District of Columbia; Maryland; Kentucky, Georgia, Massachusetts; New Jersey; New York; Oregon; Tennessee, Ohio and Washington."As Illinois' largest nonprofit lender, we know through our close ties with the communities we serve that many Chicagoans are still unable to achieve the American Dream of owning a home," said Kristin Faust, President of Neighborhood Housing Services of Chicago. "Our membership in NMC has greatly increased our ability to make homeownership a reality for many more families in a way that is responsible, sustainable and scalable." "We're excited to be a part of the NMC, enhancing our access to affordable credit for the communities we serve," said Clemente Mojica, President & CEO Neighborhood Partnership Housing Services (NPHS) in Ontario California. "The loan origination platform, consumer-facing tools and technology are enabling us to achieve our mission with potential for scale we could never have accomplished alone." About Citi Community DevelopmentCiti Community Development leads Citi's commitment to financial inclusion and economic empowerment for underserved individuals, families and communities across the U.S. Through innovative collaborations with municipalities, community groups and leading nonprofit organizations, we harness Citi's expertise, products and services to help expand opportunity for all. Additional information may be found at http://citicommunitydevelopment.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://blog.citi.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi About Springboard CDFI, dba Nationwide Mortgage Collaborative (NMC)Springboard CDFI's mission is to bridge the wealth gap in America by provide scaled solutions and access to capital, with a focus on first time homebuyers, people of color, and rural communities. Founded in 1982 in San Diego CA and now headquartered in Riverside CA, Springboard CDFI is the only national nonprofit CDFI mortgage bank, providing origination and lending on behalf of bank and GSE investors and government home loan programs. Visit mortgagecollaborative.org for more information.