NexBank is a company that majors in financial services. Their services include three main businesses; one Mortgage banking, Commercial banking, and Institutional Services. Nexbank makes sure they provide quality and customized services to institutional clients, financial institutions, corporations and also individuals. A few years ago, Nexbank created a partnership with Dallas neighborhood homes. Dallas homes is a not for profit mortgage organization that has been working hand in hand with Dallas Area Habitat. These two companies in collaboration with Nexbank announced that they are ready to offer an Affordable Housing Program aimed to target the families in the southern part of Dallas.
Nexbank is providing fifty million dollars as loans in order to support the expansion program. This amount is set to last five years. The target market for this project is low-income homebuyers with a limited access to mortgages. The package includes counseling to keep the individuals with an interest in home ownership in the know on what to expect. This package includes an additional two thousand dollars as title fees for all the completed closings per loan. This initiative by Nexbank is going to go a long way in increasing the number of homeowners since Northern Texas has a low ownership rate. The initiative will provide quality homes for a good number of people.
Apart from the Dallas project, Nexbank has also been involved in the acquisition of The College Savings Bank located in Princeton, New Jersey. The bank had specialized in over five hundred savings program. The terms of the acquisition entailed that the bank retains its name, brand, and operations but will be a branch of Nexbank. The Nexbank Chief Executive Officer John Holt termed the transaction as a win-win. This acquisition enables the banks to better serve the clients and easily deal with the broad range of needs.
The College Savings Bank has been in business since 1987 and has since then served as a right-hand partner for parents preparing to cover their children’s’ college future. The acquisition by Nexbank has placed them in a position to enlarge their platform and responsibly work on short and long-term goals.
Find out more about Nexbank: https://www.indeed.com/cmp/Nexbank