Capital For Change, Inc.
Frequently Asked Questions
Who is Capital For Change, Inc.?
Capital For Change, Inc. (C4C), formerly CT Housing Investment Fund, Inc. (CHIF), is a certified statewide Community Development Financial Institution (CDFI) providing flexible financing, loan servicing, and technical services to developers and homeowners to improve and increase the supply of housing affordable to Connecticut residents. C4C implements solutions to help families become and remain homeowners.
Who are C4C’s loan servicing clients?
C4C’s loan servicing clients are state, federal, and CDFI lenders. C4C’s portfolio consists of 50 different housing and community-development loan programs. Clients include the Connecticut Housing Finance Authority (CHFA), the Connecticut Department of Economic and Community Development (DECD), various Habitat for Humanity organizations, and the Connecticut CDFI Alliance.
What is C4C’s expertise?
C4C specializes in providing comprehensive loan-servicing services to nonprofit organizations and government agencies that make affordable-housing loans to low- and moderate-income borrowers.
What is the software C4C uses?
C4C operates Servicing Director (“SD”), a product of D+H USA Corporation. SD is a state-of-the-art loan-servicing system that provides detailed reports and custom features for community development and housing loans. We are in the process of converting our software over to LOANS! For .NET (“LFN”), a product of Benedict Group, Inc., which will provide greater flexibility and functionality.
Why use C4C for your loan servicing needs?
C4C offers the ideal solution to lenders who want to outsource their loan-servicing activities. C4C provides superior customer service to borrowers and mortgagees. C4C can customize monthly report data and provide information to clients in real time. C4C offers many features for its customers, including automatic payment deduction to borrowers, a website where borrowers can make online payments, and easy-to–read year-end statements.
C4C consistently receives the highest rating in loan-servicing performance from the Federal Housing Administration (FHA), and is recognized for helping lenders improve their loan portfolio performance.
What are C4C’s fees for its loan servicing services?
C4C generally charges a fee ranging from $10.00 to $16.00 per loan per month. The price per loan per month varies depending on the size of the portfolio serviced and the selection of services C4C provides to the lender. C4C also charges a one-time fee to transfer and set up an existing portfolio on C4C’s software, and inform borrowers of a change in servicer.