Banking pioneer, Brian Cosgrove's mortgage project called Just Price Solutions may be what the new home buyers need for fair and effective mortgage credit programs.
The question that today Cosgrove asked during Nightly Business Review was "How can we remake mortgages so that, so that we don't have to use sub-prime, if you will in that process? How can we redo this and come up with something that's sustainable and works and pays everybody that's involved in the process?"
In 2006, Neighborhood Housing Services of America expanded its services to the broader community development field through its nonprofit subsidiary Just Price Solutions (JPS).
Just Price Solutions has developed a technology platform of Web-based tools, including BestFIT and an automated underwriting engine with alternative credit analysis and centralized back office processing, writes Neighborhood Housing Services of America in its website.
JPS was created to leverage NHSA’s 30 plus years experience in community development financing with proven mortgage processes and technologies. Web based tools allow non-profit, private sector and public organizations to form collaborative partnerships that were challenging in the past. Sustainable, fair and equal access to mortgage financing is now available to those who need it most.
Innovative community financing solutions since 1975.
Proven technologies to promote and protect homeownership in our most vulnerable communities.
Created from within the Community Development field for the Community Development field.
New solutions to reduce costs.
Maximizes the investment, resources and capital in local communities.
"BestFIT® is the gateway to the Just Price Solutions platform and incorporates the specific elements of foreclosure prevention so that a case by case analysis can now be done in a scalable process. Additionally, first-time homebuyers and existing homeowners can be matched to a combination of available public subsidies and private purchase and refinance loan products. The JPS automated underwriting system then simultaneously underwrites these multiples financing layers for a customized ‘best fit’ financing solution."
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