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- EIN 26-3703347
- (202) 223-3237
- 910 17th St Nw Ste 810 Washington DC 20006-2606 USA
- stabilizationtrust.com
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Nonprofit Overview
Causes: Homeless & Housing, Housing Rehabilitation
Mission: The national community stabilization trust's mission is to remove the blight of vacant, abandoned and foreclosed residential properties to the stock of rental and ownership housing available primarily to low and moderate income families by facilitating the transfer of foreclosed property from financial institutions to local organizations and providing financial assistance to support state and local stabilization programs.
Programs: Program services include the transfer of foreclosed and abandoned properties from financial institutions to local housing providers and access to acquisition and rehabilitation financing to support state and local community stabilization efforts. Since the reo transfer program's inception in october 2008, over 20,000 properties have been transferred to approximately 976 local housing providers. The stabilization trust reo capital fund was established in september 2009 and received a $25 million program related investment from the ford foundation to capitalize the fund and provide capital for lending, $17. 5 million of which has been returned to the ford foundation. Twenty-five loans totaling approximately $42. 3 million in commitments have closed. During 2011, the trust established a wholly-owned subsidiary, ncst mortgage resolutions, llc (nmr), a delaware limited liability company. Nmr will provide services to ncst affiliates that acquire non-performing mortgage loans from financial institutions with the intent of focusing services and resources to remediate the current borrower or properties in a manner that emphasizes occupancy and neighborhood stability. In the last three years, nmr provided services to the mortgage resolution fund in the purchase of 1,071 non-performing loans through 9 transactions with 6 different sellers. In addition, nmr provided services to community restoration corporation in the acquisition of over 1200 distressed notes.