Habitat for Humanity of Lee and Hendry Counties has named  FineMark National Bank & Trust as a Corporate Community Partner.  Kitty Green, President and CEO of Habitat, presented Joseph R. Catti, President and CEO of FineMark National Bank a Corporate Community Partner certificate at the company’s monthly staff meeting on June 14, 2011.  The award was in appreciation for the bank’s acquisition of $1 million in mortgages from the non-profit.

Green stated, “FineMark Bank understands the tremendous need for affordable homeownership in our community, and they know that without cash, Habitat cannot take advantage of the many affordable homes on the market right now.”  Habitat sells its homes to qualifying low-income families that have completed its program requirements, with zero-interest mortgage payments that don’t exceed 30% of the buyer’s income.  In the last nine months, the organization has handed over the keys to 50 families, and 32 more families are currently approved for homeownership and are completing the Habitat homeownership program.

Habitat created the Corporate Community Partner designation to fully recognize the importance of mortgage sales.  Green said, “We cannot meet the need for affordable homeownership without upfront cash.  Selling some of our mortgages allows us to put more families into homes sooner, and FineMark Bank will be repaid over time.”  Green added that Habitat will continue to service the mortgages, so the transaction is transparent to the homebuyer.  The organization also guarantees the loans.  In the rare instance of default, Habitat will exchange that loan with another, performing loan. 

FineMark National Bank & Trust opened in 2007, and they now have five offices located at Riverwalk, Shell Point, Coconut Point, Moorings Park and a new branch is opening soon in Bentley Village. FineMark Bank offers a comprehensive array of banking, trust, investment and brokerage services to clients interested in establishing long term, high touch relationships.  The bank is dedicated to providing a culture of service to clients and making a positive difference in the communities it serves.

Habitat’s homeownership requirements include 250 sweat equity hours, payment of $1,200 toward closing costs and mandatory attendance at homeowner training classes. Through the use of volunteer labor and donations of money and materials, homes are sold to the homeowners at no profit with an interest-free mortgage, making home ownership a reality.

Habitat for Humanity of Lee and Hendry Counties is one of the largest affiliates in the country, and it has provided more than 1,164 families in Lee and Hendry counties the opportunity to own their own home.  For further information please visit Habitat at www.habitat4humanity.org or call (239) 652-0434.