Financial Institution to Watch in the Affordable Homes Program in Dallas

NexBank, a Dallas-based leading bank, has dominated the headlines by partnering with Dallas Neighborhood Homes with the sole purpose of providing loans for affordable homes to thousands of Dallas residents. To achieve such an impressive feat, Dallas Neighborhood Homes has pledged to provide inexpensive housing loan programs to underprivileged families in conjunction with Dallas Area Habitat for Humanity. The ultimate goal is to provide over a hundred loans over the next five years to cater for the housing needs for income residents in particular zip codes.

As the mortgage service provider, NexBank is providing $50 million spread out in various loans to support the expansion program over the next five years. In return, Dallas Neighborhood Homes will distribute the funds to loan low-income homebuyers with predefined access to mortgages and offering crucial advice to guide persons preparing for homeownership. The financial institution has also offered to settle the title fees for payments completed according to the closing costs per loan.

While addressing a press conference, Mark Tribuna, Dallas’ Habitat for Humanity Mortgage Operations Senior Vice President, hailed the company’s enormous contribution to envisioning affordable homeownership for thousands of residents in need. By providing residents with affordable homes, individuals shall be in a unique position to improve their living standards. Such a sentiment has been echoed by NexBank’s CEO John Holt.

NexBank Purchases College Savings Bank

Apart from funding affordable homes for the underprivileged, the financial lender has also gone a step further and purchased the Princeton College Savings Bank. The New Jersey-based financial institution is credited with providing over 529 college-saving programs. Even though the former institution will still maintain its name and brand, NexBank’s CEO John Holt insisted that the current operations would be absorbed by NexBank.

According to NexBank’s C.O.O, the acquisition is a positive step in better serving the diverse needs of clients and assisting families to save for college. Not only is it a unique opportunity to diversify the platform but also a stepping stone for growth both in the long and short term.

NexBank’s Profile

NexBank SSB is an affiliate of NexBank Capital Inc, and a leading financial service provider in the U.S and beyond. The institution manages an impressive $35.5 billion in assets spread across institutional services, mortgage and commercial banking. As a testament to its proficiency, its prominent customers include institutional clients, individuals and corporations in need of unrivaled banking services.