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and own a new home in the face of dramatic housing price increases <br />these past several years. <br />The home builder benefits because he can stay in production and continue to provide <br />jobs and employment in the community rather than cut down production and lay off <br />workers because home buyers cannot afford to buy homes at the interest rates <br />being demanded in the conventional loan market today. <br />And the lenders themselves benefit from the program as well. They still handle <br />the loan applications, perform the underwriting function and close the loans. For <br />this they receive the loan fee. They sell the loans to the Trustee, but continue <br />to service them for the standard servicing fee. As lenders are cutting back on <br />the loans they can make with their own depositors' money, they welcome this <br />opportunity to continue to keep revenue coming in from loan originations and <br />servicing. <br />HOW TO GET STARTED <br />Gaining an understanding of what the program can accomplish and what it cannot is <br />the first step. Juran F, Moody, Inc., is knowledgeable in this area and will provide <br />any assistance you may desire in formulating 'a program suited to the community <br />needs. Once the program is defined, the resolution will be drafted and presented to <br />the city council for consideration. <br />00 26 <br />