Skip to main content

NexBank Reaches Out to Non-Conforming Market With New Product Offering

NationalMortgageProfessional.com
Sep 14, 2011

NexBank has announced the launch of the Mortgage Connect Program, a suite of traditional, non-conforming mortgage products to support loans from $250,000 to $2 million-plus. The Mortgage Connect program features common-sense underwriting and is funded directly from NexBank’s balance sheet. According to Jed Meaux, vice president and head of NexBank’s Mortgage Division, the success of the bank’s recent Jumbo Connect program led management to create Mortgage Connect. “Our Jumbo Connect mortgage program specialized in non-conforming loans between $417,000 and the $2 million-plus range,” Meaux said. “It proved that there’s a strong need in the current market for traditional, non-conforming lending products with common-sense underwriting and fast turn times.” NexBank Chief Executive Officer John Holt said that by satisfying continued demand for traditional non-conforming solutions in the North Texas market, the Mortgage Connect program plays a strategic role in the bank’s growth and expansion plans. “As the Texas housing market continues to weather volatile economic times, we want NexBank to be a key resource for mortgage brokers looking for common-sense solutions at competitive rates,” said Holt. “By expanding our balance-sheet offerings to include loans down to $250,000, the Mortgage Connect program allows us to serve the funding needs of most homeowners in the North Texas market," said Meaux. "It not only provides capital that’s increasingly hard to find, it’s structured with the distinct needs of mortgage brokers in mind.”
Fifth Third Bank Expands Down Payment Assistance Program

The program will provide up to $3,600 towards a down payment for families with low to moderate income.

Industry News
Jun 09, 2021
Filo Mortgage Launches Low-Rate Guarantee

National mortgage lender Filo Mortgage is offering to beat competitors' pricing by $1,000 with its Low-Rate Guarantee.

Industry News
Jun 08, 2021
FAU Index Shows Where Consumers Should Buy Or Rent

Consumers are better off renting in cities like Dallas, Texas

Industry News
Jun 07, 2021
Verus Title Inc. Expands Into Dallas-Fort Worth Texas

Verus plans to take advantage of the Dallas-Fort Worth market before expanding throughout the state.

Community
Jun 07, 2021
Freddie Mac Multifamily Extends Forbearance Deadline To September

Freddie Mac Multifamily extended the deadline for requesting a new COVID-19 forbearance agreement for its Multifamily loans to September 30, 2021.

Industry News
Jun 04, 2021
Fannie Mae Launches 'Your Own Story' To Educate Future Homebuyers

Fannie Mae is seeking to help demystify the homebuying process for future homeowners with “Your Own Story.” A new campaign to educate future homebuyers on the entire process.

Industry News
Jun 04, 2021