National Community Stabilization Trust
The National Community Stabilization Trust was formed through an unprecedented collaboration among six leading nonprofits — The Housing Partnership Network, Enterprise Community Partners, NeighborWorks America, the Local Initiatives Support Corporation (LISC), National Council of La Raza (NCLR) and the National Urban League. Together, we created NCST to serve as an efficient, large scale vehicle to help communities and nonprofits acquire foreclosed homes from financial institutions.
NCST promotes comprehensive revitalization by forging partnerships between major servicers and over one hundred communities throughout the country. The innovative First Look program notifies nonprofits as soon as properties are available in their communities and provides expedited access to purchase them at discounted prices. NCST’s REO Capital Fund also offers flexible short-and intermediate term financing to communities for property acquisition, bridge loans and property rehabilitation.
Thirty Network members have negotiated agreements with NCST as lead members in community-based collaboratives involving local and state governments, the private sector and nonprofit developers. The Network’s President and CEO, Thomas Bledsoe, serves as Chair of the NCST Board. This pioneering enterprise has been nationally recognized for its innovation and social impact.
