Homesight

“The draft form 990 is provided to all members of the executive board for review prior to filing. If timing allows, questions may be raised at a board meeting prior to filing; if not, the cfo is available to answer any and all questions.”

“The board and employees complete a conflicts of interest statement annually.”

“The board periodically reviews the top official's compensation using survey data to make modifications as necessary.”

“The management team periodically reviews the top official's compensation using survey data to make modifications as necessary, and budgeted salaries are subject to board approval.”

“The financial statements are included in homesight's annual report that is available to the public. Other governing documents are available upon request.”

“Homesight is a non-profit community development corporation that promotes affordable homeownership opportunities through three key interrelated program areas: community development, real estate development, and homebuyer services and lending.”

“Under homebuying and lending services, in 2015 homesight became a "correspondent" 1st morgage lender to enhance its previous carried-on acitivites within the program service.”

“The organization discontinued foreclosure counseling as a major program component in 2015 as a result of a decrease in requests for this service. The organization continues to serve borrowers at risk of foreclosure through its rescue loan program.”

“SEATTLE.”

“Limited assistance loan resources and the growing gap between family incomes and home prices. It offers assistance loans funded by public and private investments to package highly competitive amortizing or deferred second loans and deferred third loans for low and moderate income homebuyers. This structure allows homesight to eliminate the requirement for private mortgage insurance for its clients, and increase the buying power of low and moderate income first-time homebuyers. During 2015, homesight's first-time homebuyer education and lending programs created 110 first-time homebuyers in this market. -- in 2013 homesight began portfolio 1st mortgage lending when it found that creditworthy customers were no longer being approved by broker lenders due to tightening credit standards. Homesight subsequently sold these loans to a community bank to replenish its capital. In 2015 homesight became a correspondent 1st mortgage lender to the state housing finance agency (hfa) and a local community bank. Homesight originates loans with its capital for subsequent sale to these lenders. Through these channels homesight provides quality, low-down-payment options and more flexible case-by-case underwriting that allows many nonconforming customers to access credit that would not be available to them otherwise. -- in 2015, homesight completed the third year of the washington homeownership stability fund in partnership with the washington state housing finance commission. With 5.4 million in capital from the washington attorney generals national mortgage settlement this program provides critically needed emergency loans to homebuyers facing foreclosure. Homesight provides rescue loans to borrowers who are capable of sustaining homeownership if they are reinstated before the foreclosure. Typically, these are deferred loans, and range from 0% to 2% interest depending on the income. In certain cases the customer may qualify for a refinance of their existing mortgage under this program. In these cases an amortizing loan is originated at 5% interest rate. Since these loans may be forgiven in certain circumstances, homesight is discounting the loans at 100% for the first two years of the loans.”

“Policy and systems solutions to improve health, housing and economic opportunity in southeast seattle; 2) ready to work, an innovative program that combines english language proficiency, digital literacy, and job skills development to prepare immigrant students to enter or advance in the workforce.”

“Fundraising event expenses 17,249 fundraising event expenses -17,249”