Wachovia Funds 'Just Price Solutions'

Neighborhood Housing Services of America has announced the receipt of a $2 million grant from the Wachovia Foundation to support Just Price Solutions, which helps borrowers qualify for prime loans by establishing their credit history through nontraditional means.The electronic commerce platform features a digital channel that includes customized automated underwriting engines linked to third-party services for loan fulfillment, NHSA said. The platform is backed by affordable loan products designed for the community development field. "Wachovia's grant is an answer to many prayers," said Mary Lee Widener, president and chief executive officer of NHSA. "It will push forward our JPS initiative to help nonprofits and mission-oriented lenders fight predatory lending and inappropriate subprime lending." NHSA can be found online at http://www.nhsaonline.org, and the Wachovia Foundation's parent company, Wachovia Corp., can be found at http://www.wachovia.com.