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 at the Center for Community Progress and the National Housing Institute, is the author of many works on housing and planning, including Bringing Buildings Back, A Decent Home, and Inclusionary Housing in International Perspective. He served as director of housing and economic development for Trenton, New Jersey, from 1990 to 1999, and teaches in the City and Regional Planning program at Pratt Institute.


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