Community Reinvestment Fund USA (CRF), a non-profit organization that connects community development lenders with the capital resources of Wall Street, has announced it received a $125,000 grant from Chase. This grant is the latest in a series of investments made to CRF by the foundation. This contribution will expand CRF’s “high-touch” loan servicing and increase its penetration in California, Illinois, Florida, Michigan, New York, Ohio, and Texas. The grant will also allow CRF to provide improved customer service to more borrowers on behalf of its servicing partners.
“We are grateful for Chase’s steadfast support of CRF’s mission,” said Frank Altman, president and chief executive officer for CRF. “This contribution will support our ongoing efforts to bring needed resources and services to communities throughout the nation.”
With market conditions affecting credit availability and more distressed communities seeking capital than ever before, CRF is uniquely able to initiate economic recovery at the grassroots level. Since 1988, CRF has helped drive more than $1.1 billion in private capital to underserved communities, serving more than 200,000 individuals and creating or retaining nearly 45,000 jobs.
“CRF’s extensive experience in servicing specialized loan portfolios makes them uniquely suited to help housing non-profits and local governments respond to the mortgage foreclosure crisis,” said Mark Rigdon, spokesperson for Chase. “We are proud to provide support for CRF and its vital role in driving change through community development.”
For more information, visit www.crfusa.com or www.jpmorganchase.com.