This week, we teamed up with Oswaldo Acosta, President and CEO, of City First Enterprises to look at the financial tools available to support low- and moderate income (LMI) families' ability to purchase homes in the U.S.
This is the first part of a series that will review the current landscape of homeownership in this country, the financial tools available to support broader access to homes and next week we will look at the securitization options that we believe are on the horizon to scale fair private mortgage assistance programs through impact bonds.
"...it is time to offer a new paradigm that can increase liquidity and capital availability to those who need it most while minimizing friction within the current mortgage industry. A proposition for change would be to marry the explosive growth in impact investing within the existing securitization model through scaleable mortgage assistance programs (MAP). A thoughtful secondary mortgage and/or down payment assistance tool for LMI families offers a new solution."