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Article: Lenders Scramble for Ways to Fund Affordable Housing Loans.(Affordable Housing)
- Article from:
- National Mortgage News
- Article date:
- November 9, 2009
CopyrightCOPYRIGHT 2009 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Amilda Dymi
CHICAGO-In times of limited financing resources some of the largest banks are using federal tax credits, grants and other innovative tools to fund affordable housing development and help sustain this vulnerable segment of the mortgage marketplace.
Treasury secretary Tim Geithner and Donna Gambrell, director of Treasury's Community Development Financial Institutions Fund, awarded NCB Capital Impact $90 million in NMTC allocations for the development of projects in low-income communities across the nation during an event at a job training center here that benefited from NMTC funding.
The stated goal is "to spur private-sector ...
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