| UIF Corporation | |
| Type: | Subsidiary of University Bank |
| Industry: | Mortgage, Real Estate |
| Foundation: | 2007 |
| Key People: | Stephen Lange Ranzini (CEO) |
| Products: | Partnership, Murabaha and Ijara |
UIF Corporation (UIF) is an American financial service company headquartered in Southfield, Michigan. It provides residential and commercial real estate financing, vehicle financing, and time deposit savings accounts conforming to Islamic principles that prohibit the payment and receipt of interest. Commercial real-estate financing and home financing are provided through the company's partnership programs.[1]
UIF has received national media attention from NPR and The New York Times for its unique services.[2] [3] [4] [5] UIF’s faith-based lending program has been highlighted in a speech of the Federal Reserve Bank of New York[6] and in the official magazine of the Federal Reserve Bank of Richmond.[7]
UIF currently offers financing, including murabaha and ijarah, in Arizona, California, Colorado, Connecticut, Delaware (Commercial Financing Only) [8] Florida, Georgia, Illinois, Indiana, Kansas, Kentucky, Maryland, Massachusetts, Michigan, Minnesota, Missouri, New Jersey, New York, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, Tennessee, Texas, Virginia, Washington and Wisconsin.[9] [10]