In California, a Social Purpose Corporation (“SPC”) is a “hybrid” corporate form that provides alternative business entity options to entrepreneurs who want to combine profitability with broader social and environmental objectives.
Social purpose corporations are “for profit”, yet require directors to consider socially responsible purposes, in addition to shareholder interests, when making business decisions.
The official social purpose of Homestead SPC is “to minimize the adverse effects of financial illiteracy on consumers in the community and society engaged in real estate and mortgage transactions”.
As a lawyer and mortgage broker, Attorney Joseph Arthur Roberts created Homestead SPC as a product of his experience advocating for hundreds of homeowners during the Mortgage Crisis. Millions of misinformed and victimized borrowers lost thier homes to lenders and financial predators. Most borrowers were ill advised as to the nature of their home loans and often persuaded to enter into transactions that were financially dangerous. Never again!
HOMESTEAD SPC STRIVES TO BE THE ULTIMATE “ONE STOP SHOP” FOR HOME BUYERS AND HOME OWNERS
Homestead SPC is also organized as a law corporation and Attorney Roberts has practiced real estate related law since 1991 and owned a mortgage company that engaged in responsible lending. Homestead SPC remains properly licensed to originate home loans and broker real estate transactions for folks in California.