Low-income residents of Dallas will soon be able to secure loans through the expansion of the Affordable Housing Loan Program, the result of a partnership between Nexbank SSB and non-profit mortgage servicer Dallas Neighborhood Homes. Nexbank will be injecting $50 million in loans for Dallas Neighborhood Homes to use to help Dallas residents whose incomes limit their mortgage options. As part of the program, prospective borrowers will undergo financial counseling through Dallas Area Habitat for Humanity in order to prepare for home ownership. Both Nexbank and Dallas Neighborhood Homes believe that this partnership will help propel home ownership in North Texas, an area where home ownership is among the lowest in the country.
Chartered in 1922 and with assets of $3.5 billion, Nexbank SSB provides commercial, mortgage, and investment banking services to a range of clients from large corporations to small businesses and to individuals.
Although Nexbank uses technology solutions to enhance the personal touch that its clients expect, Nexbank’s leadership team still focuses on basics like addressing client needs and community investment. Under the direction of President and CEO John Holt, Netbank expanded its services in commercial and mortgage banking, as well as in investments. At the same time, Chief Operating Officer Matt Siekielski’s service on the board of the Real Estate Council Community Fund means that Nexbank is plugged into the community’s financial needs. The partnership with Dallas Neighborhood Homes shows how Nexbank can apply its responsiveness to client needs and its community awareness to create innovative services for everyone’s benefit.