In Brief: Alliance Funding Offers Subprime Help to Banks

Alliance Funding announced an affinity program Monday to help banks and credit unions make subprime loans.

Such lending can help in meeting Community Reinvestment Act requirements, Alliance pointed out.

The company will handle underwriting and provide on-site training. The bank or credit union would originate and process the loans in its own name; Alliance would fund them or buy them from the lender, and would do the servicing.

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