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The renovation ripple effect in underserved neighborhoods

Housing Wire

Those areas that I’m now developing I grew up in. I remember what it’s like to have slumlords,” said Jermaine Morgan, a Columbus, Georgia-based local community developer who purchases distressed property at auction. “I Collectively, local community developers like Jermaine significantly impact neighborhood stabilization nationwide.

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Madison Simm joins Change Lending as CFO

Housing Wire

Madison’s expertise in developing nationally recognized financial services businesses and managing sound growth will be invaluable to Change Lending as the company continues to expand and innovate,” Steven Sugarman, founder of The Change Company , said in a statement. Department of the Treasury since 2018.

Lending 392
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Change Lending to join Federal Home Loan Bank of San Francisco

Housing Wire

Change is a community development financial institution (CDFI) that is certified by the U.S. Change Lending’s services include small-business loans and lines of credit, investor real estate loans, rehab loans and renovation loans, according to its website. billion in 2022 production volume, per Scotsman Guide.

Lending 448
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Proprietary Capital completes acquisition of AFR, hires new COO

Housing Wire

Pieklo spent 14 years at the lender before leaving in 2018. Since its foundation in 1997, Proprietary Capital has developed a platform to invest in the U.S. Corey Dubnoff, who founded AFR in 1997, will remain as chief administrative officer, and Tim Yanoti will stay on as chief financial officer.

Lending 457
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Opinion: Pass the Neighborhood Homes Investment Act

Housing Wire

The Neighborhood Homes Investment Act (Neighborhood Homes) would begin addressing these challenges by developing or renovating 125,000 affordable homes in economically distressed communities. This cost gap all-too-often prevents the renovation of affordable houses that need a great deal of work.

Investing 476
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PunchList USA names chief product and data officer 

Housing Wire

Pampulov will be responsible for the development of PunchListUSA’s proprietary products, data infrastructure, home lifecycle services, and predictive pricing models, according to the firm. “I Pampulov comes to PunchList USA with two decades of experience in real estate data strategy and product development.

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The share of owner-occupants buying foreclosures has doubled — here’s why

Housing Wire

Meanwhile, innovation-driven transparency is helping to make distressed property auctions more accessible for these owner-occupant buyers as well as for local community developer buyers who, it turns out, sell most of their renovated foreclosures to owner-occupants. Department of Housing and Urban Development (HUD) in August 2022.