Achieving National Impact with Local Accountability

Lending

Housing Partnership Fund is a $30 million CDFI-certified lending institution that provides revolving equity-like capital for development and preservation of affordable housing. Since 2001, the Fund has provided financing to 30 Network members to build or acquire more than 11,000 affordable homes valued at more than $850 million. Key partners include: Merrill Lynch, Citigroup, Bank of America, Wachovia, Deutsche Bank, HSBC, Key Bank, the MacArthur Foundation and Fannie Mae foundations, the Treasury Department CDFI Fund, and the US Department of Housing and Urban Development.

Housing Partnership Ventures, the Network's investment vehicle, provides equity for the start-up and expansion of our collaborative social enterprises. The Network is investing $9.3 million and Merrill Lynch Community Development Company has provided an $8 million line of credit. To date, Ventures has provided member organizations $4 million to purchase their equity in Housing Partnership Insurance, $1 million of subordinate capital to the Housing Partnership Fund, $2 million of equity in the Gulf Coast Housing Partnership, and $2 million of equity in Housing Partnership Securities. Equity from Ventures has leveraged significant private sector investment in those enterprises. The Network raised the core capital for Ventures from two congressional earmarks, including a 2006 grant of $5 million to capitalize our housing-related ventures.

Development

Gulf Coast Housing Partnership (GCHP) is a New Orleans-based nonprofit development company that seeks to build 10,000 affordable homes in hurricane-impacted communities in Louisiana and Mississippi. The company was launched in 2006 and has raised $20 million of capital. GCHP was created by the Housing Partnership Network in close collaboration with local civic leadership, Network members from the Gulf region and around the country, and national financial institutions and foundations. GCHP is an independent nonprofit, with the Network currently providing staffing and operating support under a management contract. Key partners include: Enterprise Community Partners, Fannie Mae, Freddie Mac, the MacArthur Foundation, NeighborWorks America, Credit Suisse, and the Greater New Orleans Foundation.

Insurance

Housing Partnership Insurance Exchange is mutually-owned by the Network and 19 member organizations. It provides property and liability coverage for 45,000 affordable rental homes valued at more than $4.5 billion, which have been developed and are operated by our members - saving them in the cost of premiums and providing distributions that have been reinvested in affordable housing and resident services. Key partners include: Lexington Insurance Company, Lloyds of London, and IMA Financial.

Homeownership

Housing Partnership Counseling. Since 1995, the Network has served as a national funding intermediary for the federal housing counseling program. We have provided more than $14 million in grants, helping 40 Network members to counsel more than 400,000 families on homeownership. More than 80,000 families have bought or retained their first homes as a result. We have sponsored related initiatives with our members in foreclosure prevention, single-family mortgage brokering, and technology. Key partners include: the US Department of Housing and Urban Development, Freddie Mac, and the Ford Foundation.