Non-Mortgage Sourcing and Originations
The REAL Program is designed to support responsible households unable to obtain traditional mortgage financing. Therefore, the REAL Program is a hybrid product. Not a mortgage, the Program is not subject to typical mortgage licensing requirements. However, the Landlord-Tenant nature of the Program argues that, in most markets, a real estate license is required to to perform certain activities under the Program.
All Program activities requiring licenses are performed within the Seashine Property Services business entity.
Seashine Financial is the Servicer of assets held within the REAL Homeownership Trust and is responsible to perform a variety of services for customers, properties and for the beneficiaries of the Trust. Any Servicing activities that require a license are performed within the Seashine Property Services business unit.
Construction / Renovation Administration
An important element of the Program facilitating renovations and alterations desired by Program Residents.
Real Estate Asset Portfolio Management
A significant benefit of the REAL Program, the real estate acquisition lease, is the ability for the Servicer to proactively engage to defend and protect the properties held in the Trust. Seashine performs sophisticated and ongoing monitoring and management of each property and its Resident(s) to ensure Resident safety and the condition of the Residence.