About the PartnershipThree committed mortgage service providers are combining their unique resources and expertise to collaborate and deliver this life-cycle mortgage platform. Each brings a distinct skill set in creating compliant solutions for community-based lenders that will meet CRA requirements. The Network: NJCC The Operation: CUMAnet The Fund: AFCU The Network: New Jersey Community CapitalOver the last five years, NJCC has established itself as a national pioneer of new models for large-scale foreclosure recovery and community stabilization. Through its various subsidiary companies, NJCC has launched the following community development initiatives: Community Asset Preservation Corporation (CAPC), a nonprofit real estate subsidiary that makes large-scale acquisitions of difficult-to-obtain abandoned properties across New Jersey and then collaborates with local community builders to convert them into affordable for sale and rental housing. ReStart, an award winning program that acquires large scale discounted pools of nonperforming mortgages and provides occupants options for affordable mortgage modifications including substantial unpaid principal balance forgiveness, deeds-in-lieu of foreclosure, and transitional assistance—along with individualized counseling—to protect them from foreclosure and restore their stability. By working in tandem to stabilize distressed homeowners and single-family properties, CAPC and ReStart cover the large-scale needs to both prevent and repair the severe detriment of displacement and residential vacancy to families and their communities, the central challenges of the foreclosure recovery. However, in order to preserve and increase neighborhood revitalization efforts additional solutions are required. To meet this additional challenge, NJCC is partnering with Affinity Federal Credit Union and CUMAnet LLC (“The Mortgage Platform”). This represents a new kind of partnership between a CDFI and an existing substantial federal credit union and a GSE approved mortgage fulfillment and servicing platform. The Operation: CUMAnetA mortgage fulfillment and servicing CUSO (Credit Union Servicing Organization) with 20 years of industry expertise, CUMAnet specializes in strong technology integration and streamlined process focus to deliver cost effective, scalable options to clients and their respective borrowers. CUMAnet offers a wide array of agency (FNMA FHMLC, FHA) and portfolio products and will execute whole loan or participation sales to investors and lenders. It will offer a series of Automated/Configurable Underwriting options to facilitate consistent and measurable risk metrics that are post Dodd-Frank compliant. Scorecards and reports can be provided to larger investors for risk managers and auditors alike, and post-closing QC tools to measure ATR (Ability To Repay) compliance will also be available. The Fund: Affinity Federal Credit UnionAffinity Federal Credit Union (NMLS #463935), the largest federally-chartered credit union headquartered in NJ, is a member-owned, not-for-profit, full-service financial institution with 15 branches throughout the state. Affinity has more than 135,000 members from over 2,000 businesses and organizations and total assets in excess of $2.3 billion. Headquartered in Basking Ridge, Affinity Federal Credit Union has been offering superior financial services with a member-oriented focus since 1935. Consistent with its mission to enhance the financial lives of its members and their communities, AFCU will capitalize a $20 million pool to help launch this initiative. All loan applicants will come through a dedicated on line, brand-neutral Portal housed by CUMAnet which will serve only low and moderate income homebuyers and homeowners who have received prior counseling from an approved loan counseling agency, and will be pre-approved for an array of available mortgage products (LCO). Virtually all loans will qualify under FFEIC regulations as CRA loans, either by location in a targeted census tract or by borrower income.