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Zero Subsidy Affordable Housing Mortgage Review Volunteer

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M4A FOUNDATION - CROWDDOING

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Zero Subsidy Affordable Housing Volunteer Financial Advisor, CrowdDoing
Bobby Fishkin (via Reframe It), Marc Rand, and Mark Moulton have been developing a complementary way to approach making Bay Area housing accessible. CrowdDoing, a joint initiative between Reframe It and Match4Action Foundation is supporting zero-subsidy affordable housing.

Zero subsidy affordable housing is possible, and variations of it work now in the real world. Anti-poverty impact investable housing through equity rather than debt is achieved by separating appreciation value from utilization value of assets. Property rights can be fractured in service and support of stakeholder interest.

As one example, for more than fifty years, Stanford University has made such an arrangement for their off-campus housing for professors. Our notion is that such an arrangement could be offered by an administered investment pool to buyers of a fraction of a home’s appreciation value, combined with the right to live in the home. We suggest that there are investors who could find viable this kind of impact investment in real estate, based on appreciation value but not use value for life of tenant/owners. This might be an innovation in housing affordability that could provide a substantial fraction of the population who cannot currently be housed in existing markets within region a housing opportunity.

Stanford buys half of the appreciation value of each home but not the use value on behalf of the university through a mortgage participation agreement structure. Our goal is a zero subsidy means of scaling affordable housing inspired by how Stanford has supported off campus professor housing over the last 50 years. Housing inclusion, Transportation inclusion,

FAQ:How is this different from down payment assistance? One is that it's not just the down payment, it could be as much as 2/3rds of the value of the house, not 5% of the value of the house, or 10%. You can see some of the distinctions here- https://www.huduser.gov/portal/periodicals/em/fall12/highlight3.html .

Why is this approach needed when there are other kinds of affordable housing? Because there is not enough for families making middle-incomes.

FAQ: Why is this approach more efficient then other mechanisms for affordable housing? Because by bringing equity sharing agreement to scale market rate capital can subsize affordability anywhere in which land constraints are significant barriers such as islands, bays and due to mountains. Pooled equity is 100 times more leveraged because market rate capital becomes self-subsidizing of affordable home fractional ownership.

FAQ: How do impact investors get out liquid from such an investment structure? Our goal is to create a long hold, holding company. Protects from the environment, insulated as liquidity is self-liquifying as holding company. Property rights in our culture of practice and law integrate many different rights together. These include: the initial value for which an asset was purchased , the appreciation value of the asset over time, and the year-round use-value of the asset. This unity of property rights places vulnerable people between 40% of average annual income and 150% of average annual income in this region at risk of being unstably housed. This instability is due to having a too large portion of their annual income paid to housing expenses. Housing costs 2 to 3 times too much for these people to afford. Within that range of incomes, zero subsidy affordable housing strategies can be of exceptional impact potential.

Now, when a family buys a home or apartment, they must almost always buy the whole home. Usually those who do not own homes, rent them. Those who are first time home buyers get a mortgage for the full value of the home. This model w\ould use mortgage participation agreements with qualified families that would allow the fund to buy a fraction of the value of the home (at time of future sale) while allowing the family who buys the rest of the value of the home the right to live there by financing their fraction or arranging to live rent free. A publicly traded fund could buy fractions of the future sale prices of homes. The investors could sell to the fund simply by liquidating their shares. An open issuance of shares could allow more impact investors to invest and through these purchases of shares in the fund, more homes could be purchased. If half the appreciation value of each home was not owned by families, because less money would need to be borrowed, then families could have more secure housing. A publicly traded fund that is designed to leverage mortgage participation agreements to make home ownership more accessible to first-time buyers could attract impact investment. In San Francisco, the median home price is $824,600. The median 20 percent down payment is $164,920. http://www.mercurynews.com/2017/01/16/a-silicon-valley-down-payment-could-buy-you-an-entire-house-in-much-of-the-u-s/ . At a 4% interest rate over 30 years that means a monthly payment of $3,934. But suppose that a first time home owner is only buying half of the value of a home - 40% of the appreciated value, and 100% of the right to live there? Suppose that first-time buyer is not paying rent to the passive impact investors who have bought a percentage of the future purchase price of the home. Then their monthly payments would be $1,967. Such a Fund would have an open issuance to secure additional investors. If investors could be attracted based on the overall rise in book value of the real estate being owned compared to other regions in the world, the affordable housing fund could be both economically attractive and impactful.

Zero Subsidy Affordable Housing Mortgage Review Volunteer

A self-liquidating structure through a publicly traded hold co can address these challenges if combined with impact investing 30-70% of the appreciation value per home.

Zero Subsidy Affordable Housing Mortgage Review Volunteer

We are looking for an efficient Mortgage Loan Processor to process mortgage loan files and help clients submit complete applications. You will gather all necessary documentation and spot mistakes to ensure approval for the mortgage.

If you want to succeed as a mortgage loan processor, you should be highly detail oriented. Customer service and communication skills are key since you’ll be the glue that binds all interested parties, from clients to underwriters. Mortgage loan processors should also have an aptitude in math and excellent time management skills.

Zero Subsidy Affordable Housing Mortgage Review Volunteer Responsibilities
  • Perform a general evaluation of an application (financial documents, mortgage type etc.)
  • Help client choose the most appropriate mortgage
  • Gather all important data from client (assets, debts etc.)
  • Verify information and references by contacting the right sources
  • Correct mistakes and investigate inconsistencies
  • Submit completed loan files for appraisal
  • Act as point of contact between loan officers, underwriters and clients
  • Conduct a final review of the file before closing
Zero Subsidy Affordable Housing Mortgage Review Volunteer Requirements
  • Proven experience as mortgage loan processor or similar position
  • Knowledge of legislation and best practices
  • Proficient in mortgage loan computer software (e.g. Calyx Point)
  • Outstanding communication and customer service skills
  • Excellent attention to detail
  • Well-organized and able to handle pressure
  • Math skills
  • High school diploma; bachelor’s will be preferred


"To help support you joining the right part of CrowdDoing for you, please use this form: https://docs.google.com/forms/d/e/1FAIpQLSftd6E0tyV2uq7mMty1rZ80BB2MSGhbnof9gRBvaQXbrttIkg/viewform?usp=sf_link"


The only way CrowdDoing.world can realize its impact potential is through virtual volunteers,service learners(http://blog.reframeit.com/service-learning-and-skilled-volunteering/), and micro-leaders (https://real-leaders.com/leveraging-micro-leadership-to-make-aspirational-goals-achievable/) coming together.

See this brief video aboutMicro-leadership at CrowdDoing (https://www.youtube.com/watch?v=mhdB2YJ8Ocs&app=desktop). Micro-leadership means that each person adopts a dimension of responsibility for a collective problem in our society through collaborating on that area creatively individually and together through social innovation.

You are also welcome to see more background on CrowdDoing at our Youtube Channel (https://www.youtube.com/channel/UCVoL7fai7oa95fBo44FC0gA?sub_confirmation=1).

Instagram (https://www.instagram.com/crowddoing.world/),

Facebook (https://www.facebook.com/CrowdDoing-515295062320613) ,

LinkedIn ( https://www.linkedin.com/company/18910309/ ).

You can see a CrowdDoing Volunteering FAQ here.

https://docs.google.com/document/d/1zCkbEQX8PHh8k85BS0iIhsJJxADqdH3Kpn1PDbI1Uno/edit?usp=sharing



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About M4A FOUNDATION - CROWDDOING

Location:

3325 BESSAA DRVIE, EL DORADO HILLS, CA 95762, US

Mission Statement

CrowdDoing [dot] world is a joint initiative of Match4Action Foundation and Reframe It. CrowdDoing is focused on addressing the social, economic, and environmental challenges our world faces by collaborating with professionals and volunteers from many different industries. We offer a platform for individuals to connect and collaborate toward creating systemic change. We would love for you to join the team! What makes us different? CrowdDoing aims to support social innovations with transformative impact potential through global multi-disciplinary volunteering, micro-leadership and service learning. We work through operating leverage for systems change to achieve collective agency. We orient to ikigai and self-determination theory in order to help each person have the perfect role. #systemschange #systemsthinking #servicelearning #socialinnovation

Description

Match4Action connects those wanting to volunteer their skills with those in need for remote or local project support, advice, collaboration and mentoring.

Our smart technology platform uses the latest machine learning, artificial intelligence and virtual assistants to match the demand for resources for social impact with the skills and resources available, anywhere in the world. We use blockchain to create and manage a social impact currency.This unique, self sustainable open platform has one key purpose: accelerating social impact through collaboration and linking local projects with our global presence.

CrowdDoing aims to leverage micro-leadership, service learning and massively multi-disciplinary collaboration supported with project managers and human resource business partners. Collaborate with people whom you can learn from while changing the world virtually together.

crowddoing.world
http://www.linkedin.com/company/m4a-foundation
https://www.linkedin.com/company/crowddoing/
https://www.facebook.com/Match4ActionFoundation/
https://www.facebook.com/groups/219137818932726/

Community
Environment
Health & Medicine

WHEN

We'll work with your schedule.

WHERE

This is a Virtual Opportunity, with no fixed address.

SKILLS

  • Financial Literacy
  • Financial Planning
  • Cost Analysis
  • Research
  • Healthcare
  • Budgeting

GOOD FOR

  • People 55+
  • Group

REQUIREMENTS

  • Must be at least 17
  • Orientation or Training
  • 4-10 hours per week or 20-40 hours per month
  • Curriculum development project management interest.

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