In a landmark achievement in July 2017, TRP Lending, LLC, was awarded certification as a Community Development Financial Institution (CDFI). A CDFI is a mission-driven financial institution, certified by the US Department of Treasury, which is dedicated to providing financial services to underserved communities. We are proud to be part of this national network dedicated to helping more low-income families become homeowners.
After serving nearly 30,000 families with wealth building services and creating more than 1,500 new homeowners, TRP launched a second mortgage loan product in November 2016 to complete our Full Circle Homes initiative. Full Circle Homes brings together all of TRP’s tools and resources supporting homeownership for economically disadvantaged individuals. TRP Lending, LLC was certified as a CDFI, enabling TRP to provide critically needed financing in communities where resources are scarce.
“We are honored to have received this distinction and believe it reflects the positive work this organization has done over the last 27 years,” said Kristen Komara, Vice President of Financial Wellness at The Resurrection Project. “With these new resources, we will be able to better serve the community by deploying more loans, creating more homeowners, and generating more community investment.”
CDFIs invest in local communities and the residents who live there by providing critically needed financing often unavailable from mainstream financial institutions. Not only does CDFI certification help TRP become more sustainable, it gives our clients added confidence that they are working with a lender that puts the community first. CDFI certification enables Full Circle Homes to deepen its impact by offering high-quality financial products, creating more homeowners, and continuing to invest back into the community.
Full Circle Homes’ uniquely customer-centric model supports our clients with professional assistance beyond just buying a home. The program provides a high-quality one-stop-shop for homeownership starting with free financial education and home purchase coaching, then continuing to professional realty services from TRP Realty and trusted lending from TRP Lending, LLC. Finally, it culminates with homeownership support services to help clients stay in their homes. These enhanced services were showcased at the recent Full Circle Homes Housing Fair held at Back of the Yards High School on Chicago’s Southwest side. The Housing Fair offered free resources for homebuyers and homeowners, including an opportunity to qualify for $15,000 in down payment assistance towards a home in the Back of the Yards neighborhood.
Many thanks to participants in the Full Circle Homes Housing Fair: Allstate, BBMC Mortgage, City of Chicago Department of Planning and Development, ComEd, Fifth Third Bank, Illinois Housing Development Authority, JPMorgan Chase, Peoples Gas, The PrivateBank, Second Federal, and U.S. Bank.