Tribal Business Announcement!

On March 6th PINE Chairlady Yvonne ‘Cookie’ Francis and board members presented the first payment to Chief Kirk Francis and the Tribal Council in the amount of $5,000.
 

The recent crash of the ‘subprime’ national mortgage program made the PINFHA product even more valuable since the crash is driving home values down which will make them more readily available to legitimate buyers of whom many will utilize our product.
Chief Francis stated, “This is all about team work and staying focused on the task at hand. There is no doubt in my mind that this is just the beginning of what PINE is capable of doing for the Nation. Congratulations to the entire PINE board and negotiating team.”
The annual projected company profits are estimated at several hundred thousand dollars based on historical industry performance.
The business opportunity was introduced to PINE by tribal business consultant Tim Love.

Indeed it was a historic moment at a January 24th 2007 Tribal Council meeting when the Council voted to partner with Penobscot Indian Nation Enterprises (PINE), the tribe’s federally chartered economic and business development corporation, to create a national home mortgage down payment assistance company (PINFHA) for qualified buyers. The tribe’s governmental status created the opportunity without tribal cash or assets as collateral. The managing partner in the deal is Global Direct Sales from Gaithersburg, Maryland who is a leader and pioneer for this home mortgage industry product.

 

Creation of Penobscot Indian Nation

Fair Housing Administration (PINFHA)

Front Row (L-R)

PINE Chairlady and Councilwoman Yvonne ‘Cookie’ Francis, Board member Natalie Michelle, Vice Chief Dennis Pehrson, Chief Kirk Francis, Councilwoman Mary Settles, Councilwoman Beth Sockbeson.

Back row (L-R)

PINE Vice Chair Mike Sockalexis, Councilman Miles Francis, Councilwoman Reese Chavaree-Hildreth, Councilman Phil Attean, Councilman Chris Francis, Councilman Jim Sappier and Councilman John Neptune.

03.26.2007