Suggested Audience: CLT Practitioners
Date: Wednesday, January 27, 2021 2-3pm EST
During this webinar, Grounded Solutions Network premiered a HOME Rider for the 2011 Model Ground Lease, review Fannie Mae’s recently updated Selling Guide, and discuss new opportunities that Freddie Mac, Fannie Mae and other partners are supporting to drive innovation and growth in the field.
These updates are especially important for CLTs because:
- HOME is the dominant federal source of funding for CLTs, and the new HOME Rider for the 2011 Model Ground Lease will enable compliance with HOME rules during the required period.
- The Fannie Mae Selling Guide updates will simplify the CLT organizational eligibility requirements, reducing practitioner and lender work, and streamlining access to Fannie Mae products for CLT homeowners. Additionally, Grounded Solutions Network is working on a Shared Equity Homeownership Program Certification in partnership with Fannie Mae, which would allow programs to self-certify key programmatic elements required under the Duty to Serve definition, lowering barriers to lender engagement with shared equity programs.
- There are innovations and opportunities on the horizon to think creatively about growing CLT homeownership and increasing our impact in pursuit of racial justice through CLTs.