Mar, 21
2023
Business, Free News Articles, Real Estate, Reports and Studies

78.9% of metro Atlanta residential housing inventory is eligible for down payment assistance – offsetting price and interest rate impact for aspiring homeowners

ATLANTA, Ga. -- As metro Atlanta homebuyers encounter the challenging trifecta of sharply rising home prices, elevated interest rates and institutional investor depletion of starter home inventory, Down Payment Resource (DPR), the housing industry's leading technology for connecting home buyers with homebuyer assistance programs, released a comprehensive report on the 46 active metro Atlanta homebuyer assistance programs. DPR issued the report to raise community awareness about resources that can make homeownership attainable for more families.

Methodology:

DPR produced homebuyer assistance program findings by analyzing its DOWN PAYMENT RESOURCE(r) database for active programs in 11 metro Atlanta counties. The DOWN PAYMENT RESOURCE(r) database tracks the funding status, eligibility rules and benefits of all U.S. homebuyer assistance programs using data sourced from more than 1,200 housing finance agencies (HFAs), municipalities, nonprofits and other housing organizations. Homebuyer assistance programs of all types are tracked, including down payment and closing cost assistance, Mortgage Credit Certificates and affordable first mortgages. DPR's market impact findings were produced by cross-analyzing its program data with First Multiple Listing Service (FMLS)-provided listing data.

Homebuyer assistance program findings:

* 37 of the 46 active programs currently have funding. Program funding is subject to fluctuation throughout the year depending on the seasonality of program funding and secondary market conditions among other factors.

* At least three programs are targeted toward public servants including educators, military service members, firefighters, police officers and medical professionals.

* Only 18 of the 46 programs have a first-time homebuyer eligibility requirement.

* 33 of the programs are forgivable, provided that all program conditions, such as owner-occupancy, are met.

Market impact findings:

* 78.9% of listings are eligible for one or more homebuyer assistance programs.

* Assistance amounts range from $2,000 to $25,000.

* Assistance is available for homebuyers that earn as much as $152,000 per year to purchase homes that cost as much as $548,000, noting that income and price limits are subject to household size, property location and could be higher in certain targeted areas.

* Listings in the studied area are eligible for $14,341 in assistance on average.

"Many people have given up hope on buying a home in Atlanta because they do not know that homebuyer assistance programs are available to help," said Down Payment Resource founder and CEO Rob Chrane. "As a community, we need to raise awareness about affordable pathways to homeownership."

"As a long-time Atlanta resident and housing industry professional, watching the average Atlanta home price nearly double over five years as investors pillage starter home inventory has been gut-wrenching because it makes sustainable homeownership less accessible to those who need it most," said Chrane. "Homeownership is about far more than securing the deed to four walls and a roof; it is the primary avenue for building generational wealth and supports long-term financial stability."

Select homebuyer assistance programs available in Cherokee, Clayton, Cobb, DeKalb, Douglas, Fayette, Forsyth, Fulton, Gwinnett, Henry and Rockdale County are profiled at https://downpaymentresource.com/professional-resource/spotlight-on-atlanta-homebuyer-assistance-programs/.

Individuals can search for their homebuyer assistance program eligibility for free at https://downpaymentresource.com/are-you-eligible/.

About Down Payment Resource:

Down Payment Resource (DPR) is an award-winning technology provider helping the housing industry connect homebuyers with the homebuyer assistance they need. With tool sets tailored for real estate agents, multiple listing services and mortgage lenders, DPR's technology empowers housing professionals to make affordable home financing opportunities more accessible while growing business and forging referral partnerships. The only organization to track the details of every U.S. homebuyer assistance program, DPR frequently lends its expertise to nonprofits, housing finance agencies, policymakers, government-sponsored enterprises, think tanks and trade organizations seeking to improve housing affordability. Its technology is used by five of the top 10 retail mortgage lenders by volume, three of the four largest real estate listing websites and 500,000 real estate agents. For more information, visit https://downpaymentresource.com/.

Related link: https://www.downpaymentresource.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Mar, 15
2023
Business, Free News Articles, Software

GreenLyne adopts FormFree’s Residual Income Knowledge Index to unlock greater inclusivity in mortgage lending

ATHENS, Ga. -- FormFree® today announced that Inclusive-Finance-as-a-Service platform GreenLyne has enhanced its ability to help lenders identify home financing opportunities for underserved consumers with its adoption of FormFree's Residual Income Knowledge Index™ (RIKI™).

GreenLyne technology enables mortgage lenders to finance borrowers who have the capacity to support a mortgage but typically would be deemed ineligible for home financing. FormFree's patent-pending RIKI (pronounced "RIH-kee") is a risk-analysis model that analyzes cash flow and residual income to ascertain a more complete picture of a borrower's creditworthiness than traditional credit scoring alone. By incorporating RIKI into its Automated Second-Look Engine, GreenLyne can more precisely and fairly predict a borrower's risk of default and thereby set appropriate loan terms that balance profitability for the lender and affordability for the homebuyer.

Because standard underwriting models are unable to assess default risk for borrowers who have thin credit files or FICO scores below 660, these borrowers are often excluded from housing finance. According to the Urban Institute, more than 39 million Americans have a credit score between 600-660 and are mortgage-ready, yet struggle to obtain a mortgage.

"Too many consumers who have a steady income and dutifully pay their bills on time are being excluded from homeownership because mortgage lenders haven't had tools to assess their ability to pay. In effect, these consumers are being punished for an industry's weakness, which is profoundly unfair," said FormFree Founder and CEO Brent Chandler. "We are proud to provide GreenLyne with RIKI's residual income analytics so it can pave a more inclusive path to homeownership for a large cohort of Americans."

"GreenLyne's fair lending credit underwriting innovation provides a precise path to safely and soundly expand homeownership for a large, unfairly underserved segment of Americans," said GreenLyne CEO Syeed Mansur. "We are delighted to forge a deep partnership with FormFree, which couples a new era of consumer financial data with breakthrough advances in high accuracy credit risk prediction and fair underwriting that optimally balance affordability for borrowers and profitability for lenders."

About FormFree®

FormFree helps lenders understand credit risk like never before with its patented Passport® product, which opens doors to more inclusive credit decisioning by revealing each customer's true ability to pay (ATP®), and patent-pending Residual Knowledge Income Index™ (RIKI™), an innovative method for evaluating consumer creditworthiness based on residual income analysis. For more information, visit https://www.formfree.com/ or follow FormFree on LinkedIn.

Related link: https://www.formfree.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Mar, 02
2023
Awards and Honors, Business, Free News Articles

FormFree selected to HousingWire Tech100 for the ninth year

ATHENS, Ga. -- FormFree® today announced its inclusion in HousingWire's (HW's) annual Tech100 list for the ninth year. The HW Tech100 Mortgage Awards recognize the U.S. housing economy's most innovative and influential fintech companies and solutions.

Since 2008, FormFree has brought to market several first-of-its-kind solutions designed to help mortgage lenders underwrite loans more efficiently. It is the maker of Passport®, a solution that gives lenders more comprehensive insight into borrowers' true ability to pay (ATP®). Last October, FormFree launched its Residual Income Knowledge Index™ (RIKI™), a groundbreaking tool that helps lenders better determine risk based on residual income analysis. Both solutions enable mortgage lenders to adopt more inclusive credit decisioning practices.

"This is FormFree's ninth year as a HW Tech100 company, and it is truly an honor to see our logo represented alongside other enterprising housing technology organizations," said FormFree Founder and CEO Brent Chandler. "Digital asset verification was cutting-edge when we introduced it to the mortgage industry more than a decade ago. Now, we plan to transform the finance industry a second time by making home financing and the wealth-building benefits of homeownership accessible to more people with RIKI and Passport."

"As someone who had a front-row seat to watch the housing economy's tech transformation, I am increasingly in awe of the innovation we have seen from the Tech100 winners year after year," HW Media Editor in Chief Sarah Wheeler said. "With new technologies emerging every day, I am proud to be part of this exciting journey that has positioned the industry to be more efficient, more transparent and more accessible than ever before."

HW receives hundreds of HW Tech100 award nominations each year. Submissions are carefully evaluated by a selection panel of industry leaders and HW's editorial team. 2023 Tech100 Mortgage and Tech100 Real Estate honorees are featured in the March issue of HW Magazine and on the HW website.

About FormFree®

FormFree helps lenders understand credit risk like never before with its patented Passport® product, which opens doors to more inclusive credit decisioning by revealing each customer's true ability to pay (ATP®), and patent-pending Residual Knowledge Income Index™ (RIKI™), an innovative method for evaluating consumer creditworthiness based on residual income analysis. For more information, visit https://www.formfree.com/ or follow FormFree on LinkedIn.

Related link: https://www.formfree.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Mar, 02
2023
Alliances and Partnerships, Business, Free News Articles, Software, Sports and Activities

Stack Sports Inks New Partnership with The Coaching Manual to Inspire and Educate Coaches and Players Around the World

ATLANTA, Ga. -- Stack Sports has announced a new multi-year partnership with The Coaching Manual, the world's premier digital soccer coaching platform, to further its mission of inspiring soccer coaches and players around the world through innovative technology partnerships.

Sports Connect, the flagship club management platform for Stack Sports, will provide a new digital coach education solution for soccer clubs of all sizes and levels of play. This new connected experience will make season development and session planning easy for soccer coaches and players everywhere. Clubs can access a massive library of professional training content and industry-leading organizational tools to help grow participation in the sport and enhance the overall soccer experience.

"We're incredibly proud to be able to be a part of Stack's world-leading digital offerings to the worldwide sports industry, helping to support national governing bodies, youth sports associations, leagues, clubs, parents, coaches, and athletes around the globe," said Chris Barton, Founder of The Coaching Manual. "The Coaching Manual's unrivaled library of training session content featuring some of the most respected coaches in the world, as well as market-leading tools and education resources, will be instantly available to thousands of coaches thanks to this partnership. We are dedicated to supporting Stack's customers and partners in alignment with their four key pillars: Grassroots Engagement, Participation Growth, Recruiting Pathways, and Elite Player Development - and in doing so, ensuring a more rewarding soccer experience for all."

"Partnerships like this are an integral part of our goal of creating a connected ecosystem in soccer and improving the overall experience for all coaches and players. We are honored to work with The Coaching Manual to make this a reality," said Adam Abney, General Manager of Sports Connect. "The Coaching Manual helps inspire its members to achieve their full potential, and Sports Connect will be an integral partner in this mission. We are proud to serve alongside their mission through innovative coaching and education technology solutions."

Affiliated clubs partnering with Sports Connect and The Coaching Manual will have access to a full suite of features, including training session and development tools, full coaching sessions, season plans, and much more.

To learn more about Sports Connect's new Coach Education Platform powered by The Coaching Manual, visit https://www.sportsconnect.com/coaching-manual/.

About The Coaching Manual:

The Coaching Manual is a resource built for soccer coaches who want to improve their understanding of coaching, find real practical sessions which they can use, and accelerate the development of their players by creating a first-class soccer learning environment.

The wealth of broadcast-quality video content available on The Coaching Manual is suitable for coaches of all levels, from beginner and recreational coaches to those working in the professional game. As well as world-leading content, The Coaching Manual's practice design and season planning tools help coaches use their time efficiently and effectively, ensuring players get the most out of every session. Easy-to-use organizational functions allow clubs to build - and effectively communicate - coaching philosophies, player pathways, and more.

The Coaching Manual provides access to more than 3,000 pieces of coaching content including broadcast-quality video content - including sessions and practices provided by some of the best coaches in the game - insightful guides, In-depth coach interviews, handy infographics, articles, and more. With the world's largest library of coach and player education content and a suite of tools to help coaches deliver a consistently brilliant learning experience, The Coaching Manual is the leading online soccer education resource.

About Stack Sports:

With nearly 50 million users in 35 countries, Stack Sports is a global technology leader in SaaS platform offerings for the sports industry. The company provides world-class software and services to support national governing bodies, youth sports associations, leagues, clubs, parents, coaches, and athletes. Some of the largest and most prominent sports organizations including the U.S. Soccer Federation, Little League Baseball and Softball, and Pop Warner Little Scholars rely on Stack Sports technology to run and manage their organizations. Stack Sports is headquartered in Dallas and is leading the industry one team at a time focusing on four key pillars - Grassroots Engagement, Participation Growth, Recruiting Pathways, and Elite Player Development. To learn more about how Stack Sports is transforming the sports experience, please visit https://stacksports.com/.

Related link: https://stacksports.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Mar, 01
2023
Business, Free News Articles, Software

FormFree sharpens focus on decentralizing and democratizing consumer access to credit with strategic divestiture of AccountChek

ATHENS, Ga., -- Founder and CEO Brent Chandler today heralded a new era for FormFree® following its strategic divestiture of asset-verification service AccountChek®. Moving forward, the fintech will focus on products that advance its mission to decentralize and democratize the way consumers understand their financial data and access credit opportunities. Eric Lapin, who joined FormFree in 2022 as chief strategy officer, will guide the company's next chapter as president.

"FormFree changed the lending industry when we launched its first wave of digital transformation, and we're ready to change it again by ushering in a new era of consumer empowerment and expanded access to credit for all people," said Chandler. "As our new president, Eric will play a critical role in guiding FormFree's next chapter as we double down on creating new avenues for lenders to responsibly serve credit invisibles and other underserved populations."

Lapin says the company's new direction will include an increased focus on blockchain and other decentralized Web3 technologies that give users greater control over their data and privacy. For example, the Qualified Borrower™ (QB) token Lapin helped conceptualize and bring to market last year enables FormFree to share consumers' validated Financial DNA® and indicators of homebuying interest with best-fit lenders and service providers while keeping consumers' identities anonymous.

A widely recognized innovator in mortgage and financial services technologies, FormFree is the developer of Passport®, a first-of-its-kind mobile application that verifies and perpetually updates a consumer's comprehensive Financial DNA and puts consumers in the driver's seat of their self-sovereign financial identity (SSFI). FormFree is also the creator of the Residual Knowledge Income Index™ (RIKI™), a method for evaluating consumer creditworthiness based on cash-flow analysis. RIKI allows lenders to safely extend credit to consumers whose lack of credit history or thin credit files may not meet traditional underwriting requirements.

FormFree will continue to operate in the mortgage space with a focus on helping lenders meet the needs of more than 45 million Americans who are either credit-unserved or credit-underserved. In so doing, FormFree will help regulated financial institutions meet their obligations under the Community Reinvestment Act (CRA), which calls on banks to meet the needs of low- and moderate-income borrowers in the communities they serve.

The fintech will also continue its ongoing expansion beyond mortgage origination into other phases of the homeownership journey, including home search, pre-purchase housing counseling and loss mitigation. In addition, Lapin sees opportunities for FormFree's know your everything (KYE) and anti-money laundering (AML) capabilities to disrupt the digital currency, auto loan and personal loan verticals.

"FormFree is proud to have pioneered the mortgage industry's first asset verification service, and that revolutionary spirit will propel the next phase of our growth," said Lapin. "Moving forward with a laser focus on the future will allow FormFree to innovate with the agility of a startup while benefitting from all the experience and wisdom we have accumulated over nearly two decades in business."

About FormFree®:

FormFree helps lenders understand credit risk like never before with its patented Passport® product, which opens doors to more inclusive credit decisioning by revealing each customer's true ability to pay (ATP®), and patent-pending Residual Knowledge Income Index™ (RIKI™), an innovative method for evaluating consumer creditworthiness based on residual income analysis.

For more information, visit https://www.formfree.com/ or follow FormFree on LinkedIn.

Twitter: @RealFormFree #fintech #digitalmortgage #mortgage

Related link: https://www.formfree.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Feb, 28
2023
Alliances and Partnerships, Business, Free News Articles, Software

HomeScout partners with Down Payment Resource to capture consumer demand for homebuyer assistance program information

ATLANTA, Ga. -- Down Payment Resource (DPR), the housing industry's leading technology for connecting home buyers with homebuyer assistance programs, today announced that it has partnered with HomeScout LLC to help mortgage lenders generate and convert more leads by meeting heightened consumer demand for information about affordable pathways to homeownership.

HomeScout provides a suite of tools and services to help mortgage lenders increase production by generating and nurturing in-market homebuyer business at the early stages of the home buying journey. With affordability challenges causing many qualified borrowers to sideline themselves from home buying, HomeScout has partnered with Down Payment Resource to rally homebuyer engagement with programs that reduce the costs of homeownership.

HomeScout has embedded Down Payment Resource's down payment assistance (DPA) finder in its partner-branded property search sites, thereby flagging listings that are eligible for homebuyer assistance programs including down payment and closing cost assistance, Mortgage Credit Certificates and affordable first mortgages. Each eligible listing invites consumers to discover which programs and how much funding they may be eligible for by supplying basic qualification information such as household size and income. Loan originators are notified when consumers engage with the DPA tool, enabling them to reach out with financial guidance at the earliest signs of homebuyer intent.

"Consumers' eagerness to engage with our tools continues to signal an immense, unmet appetite for homebuyer assistance," said DPR Founder and CEO Rob Chrane. "By making DPA program information easily accessible through its consumer-facing portal and loan originator-branded landing pages, HomeScout is helping lenders see the opportunity homebuyer assistance programs offer to fill sales pipelines while helping qualified borrowers overcome financing hurdles to homeownership."

"Rob and his team are moving the needle by exposing a groundswell of consumer DPA interest, but the fact remains that consumers need lender support to finance a mortgage with down payment assistance," said HomeScout Founder and CEO David Camp. "HomeScout's partnership with Down Payment Resource opens additional avenues for transactions for lenders, aligning with our mission to help our clients increase production."

About Down Payment Resource:

Down Payment Resource (DPR) is an award-winning technology provider helping the housing industry connect homebuyers with the homebuyer assistance they need. With toolsets tailored for real estate agents, multiple listing services and mortgage lenders, DPR's technology empowers housing professionals to make affordable home financing opportunities more accessible while growing business and forging referral partnerships. The only organization to track the details of every U.S. homebuyer assistance program, DPR frequently lends its expertise to nonprofits, housing finance agencies, policymakers, government-sponsored enterprises, think tanks and trade organizations seeking to improve housing affordability. Its technology is used by five of the top 10 retail mortgage lenders by volume, three of the four largest real estate listing websites and 500,000 real estate agents. For more information, visit https://downpaymentresource.com/.

About HomeScout:

HomeScout is a lender-centric platform dedicated to growing conversions and retention rates for the mortgage industry. Built by real estate and mortgage industry veterans, HomeScout provides an extraordinary suite of solutions to best serve in-market home buyers and sellers, while also providing the necessary tools to amplify business growth.

With HomeScout, consumers will find all the tools they need to help them through the home buying and selling journey, including a branded and secure search portal.

HomeScout is committed to the retention and growth of database clients while providing commission security and consistency for mortgage professionals and organizations.

For more information on HomeScout visit https://homescout.realty.com/.

Twitter: @DwnPmtResource #downpaymentassistance #mortgagemarketing #proptech #fintech

Related link: https://www.downpaymentresource.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Jan, 26
2023
Free News Articles, Legal and Law

Lawyer Eric J. Hertz, P.C. Files Four Cases Against Sterigenics on Behalf of Cobb County Homeowners

ATLANTA, Ga. -- Eric J. Hertz, P.C. Trial Attorneys in Atlanta, recently filed four additional property damage cases against Sterigenics. The firm is representing homeowners within a close radius of the plant that were adversely affected. The home values in this area were adversely affected due excessive emissions of a dangerous, cancer-causing chemical called Ethylene Oxide (EtO).

This plant has been shrouded in controversy for some time now: hundreds of people have filed lawsuits alleging cancer and other illnesses as a result of exposure to this EtO gas emitted by Sterigenics in Cobb County. In a separate lawsuit in Illinois, this same company, Sterigenics was recently held responsible for causing cancer to a homeowner who lived in close proximity to the Illinois Sterigenics plant in the amount of $363 million.

EtO is both flammable and highly reactive. Acute exposures to EtO gas may result in respiratory irritation and lung injury, headache, nausea, vomiting, diarrhea, shortness of breath, and cyanosis. Chronic exposure has been associated with the occurrence of cancer, reproductive effects, mutagenic changes, neurotoxicity, and sensitization.

In April 2020, the Cobb County Property Assessor's Office devalued over 5,000 homes in the immediate surrounding area of the plant across the board. "For most people, home ownership is the largest and most important investment they will ever make. The reprehensible emission of excessive EtO has resulted in disease and devaluation of property. The local residents deserve to be compensated for the loss of fair market value and enjoyment that they once had in their homes. Simply put, we seek to hold those responsible accountable for their actions," according to Mr. Hertz.

"These additional four cases are only the beginning in Georgia," stated Mr. Hertz, as his team of mass tort, trial attorneys intend to file hundreds more of these cases in the near future.

ABOUT ERIC J. HERTZ, P.C.

Eric J. Hertz (https://www.etolawfirm.com) is a double Board-Certified Trial Attorney by the National Board of Trial Advocacy and the American Board of Trial Advocates. A member of America's Top 100 High Stakes Litigators and author of multiple Georgia legal treatises, Mr. Hertz has tried over 100 jury trials as Lead Attorney and handled over 100 wrongful death cases, resulting in multi-millions of dollars collected for his clients, including multiple record high verdicts. Eric J. Hertz leads a team of lawyers pursuing Ethylene Oxide litigation.

Link to stamped court documents:

https://www.dropbox.com/scl/fo/fykigkp1yfyp3k0xza8bn/h?dl=0&rlkey=40s521e2zog0mwkssa238i82u

Link to video regarding these mass tort cases:

https://vimeo.com/792696330

LEARN MORE: https://www.etolawfirm.com

Related link: https://hertz-law.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Jan, 26
2023
Business, Free News Articles, Insurance

Steven Walther of Alliance Group Elected to FACC Board of Directors

ATLANTA, Ga. -- Alliance Group announced that Steve Walther, Vice President of Sales & Distribution, has been elected to the FACC Board of Directors. Walther will bring with him decades of experience in the Life Insurance and Financial Services Industry, and a long track record of leading innovative and diverse teams of independent insurance agents and agencies across the country.

Throughout his time in the industry, Walther has been involved in many of the areas that the FACC is focused on, such as regulatory awareness, producer training and education, and compliance guidelines across the Independent Distribution channel. This experience will serve him well within his new role with the FACC.

"We're happy to see Steve appointed to the FACC board - his experience and depth of knowledge make him a great addition," said Alliance Group CEO Lee Duncan. "Steve's a natural educator and his history of being a champion for independent agents and agencies is something that will serve the board well."

About FACC:

The Federation of Americans for Consumer Choice (FACC) serves as the voice for independent distribution of life insurance, long-term care insurance and annuities, dedicated to the preservation of consumer access to products and professional advice Americans need to live securely and retire with confidence.

Independent distribution of annuity and insurance products fosters:

* Healthy competition in the financial services marketplace

* Product options and innovation for consumers

* Wider choice of products and services for unserved or underserved markets

More information on Alliance Group and Living Benefits life insurance is available on their website, https://www.alliancegrouplife.com/.

Related link: https://www.AllianceGroupLife.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Jan, 26
2023
Business, Free News Articles, Real Estate, Reports and Studies

Down Payment Resource’s Q4 2022 Homeownership Program Index shows homebuyer assistance programs have increased in number for fifth consecutive quarter

ATLANTA, Ga. -- Down Payment Resource (DPR), the nationwide database for U.S. homebuyer assistance programs, today announced findings from its latest Homeownership Program Index (HPI). The firm's analysis of 2,351 homebuyer assistance programs in its DOWN PAYMENT RESOURCE® database revealed that the net number of homebuyer assistance programs increased by 1.82% from Q3 to Q4 2022. This marks the fifth consecutive quarter the number of homebuyer assistance programs has grown.

Methodology

Published quarterly, DPR's HPI surveys the funding status, eligibility rules and benefits of U.S. homebuyer assistance programs administered by state and local housing finance agencies, municipalities, nonprofits and other housing organizations. DPR communicates with over 1,200 program providers throughout the year to track and update the country's wide range of homeownership programs, including down payment and closing cost programs, Mortgage Credit Certificates and affordable first mortgages, in the DOWN PAYMENT RESOURCE® database.

Key Findings

The Q4 2022 HPI examined a total of 2,351 homebuyer assistance programs that were active as of January 6, 2023. Key findings are as follows:

* The net number of homebuyer assistance programs is up. The total number of programs increased by 42 in Q4 2022. Among them were five nationwide or multi-state programs and seven statewide programs.

* Support for first-time homebuyers increased. The number of programs dedicated to supporting first-time homebuyers now totals 1,315, up from 1,291 in Q3 2022.

* Support for multifamily homebuyers increased. Programs that support multifamily homeownership saw a 5.5% increase over Q3 2022. These programs now make up 29.3% of all homebuyer assistance offerings.

"While economic roadblocks caused the percentage of programs actively receiving funding to decrease marginally in Q4, homebuyer assistance still saw steady growth in 2022," said DPR CEO Rob Chrane. "Until home prices and mortgage rates decline and the housing market recovers, down payment assistance will be a crucial source of financial support for homebuyers that lack the savings to cover an inflated down payment."

A more detailed analysis of the Q4 2022 HPI findings, including infographics and examples of many of the programs described in this release, can be found on DPR's website at https://downpaymentresource.com/professional-resource/homebuyer-assistance-offerings-increase-for-the-fifth-consecutive-quarter-in-q4-2022/.

For a complete list of homebuyer assistance programs by state, visit https://downpaymentresource.com/wp-content/uploads/2023/01/HPI-state-by-state-data.Q42022.pdf.

About Down Payment Resource:

Down Payment Resource (DPR) is an award-winning technology provider helping the housing industry connect homebuyers with the homebuyer assistance they need. With toolsets tailored for real estate agents, multiple listing services and mortgage lenders, DPR's technology empowers housing professionals to make affordable home financing opportunities more accessible while growing business and forging referral partnerships. The only organization to track the details of every U.S. homebuyer assistance program, DPR frequently lends its expertise to nonprofits, housing finance agencies, policymakers, government-sponsored enterprises, think tanks and trade organizations seeking to improve housing affordability. Its technology is used by five of the top 10 retail mortgage lenders by volume, three of the four largest real estate listing websites and 500,000 real estate agents. For more information, visit https://downpaymentresource.com/.

Related link: https://www.downpaymentresource.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Jan, 26
2023
Business, Free News Articles, Real Estate, Reports and Studies

Down Payment Resource’s Q4 2022 Homeownership Program Index shows homebuyer assistance programs have increased in number for fifth consecutive quarter

ATLANTA, Ga. -- Down Payment Resource (DPR), the nationwide database for U.S. homebuyer assistance programs, today announced findings from its latest Homeownership Program Index (HPI). The firm's analysis of 2,351 homebuyer assistance programs in its DOWN PAYMENT RESOURCE® database revealed that the net number of homebuyer assistance programs increased by 1.82% from Q3 to Q4 2022. This marks the fifth consecutive quarter the number of homebuyer assistance programs has grown.

Methodology

Published quarterly, DPR's HPI surveys the funding status, eligibility rules and benefits of U.S. homebuyer assistance programs administered by state and local housing finance agencies, municipalities, nonprofits and other housing organizations. DPR communicates with over 1,200 program providers throughout the year to track and update the country's wide range of homeownership programs, including down payment and closing cost programs, Mortgage Credit Certificates and affordable first mortgages, in the DOWN PAYMENT RESOURCE® database.

Key Findings

The Q4 2022 HPI examined a total of 2,351 homebuyer assistance programs that were active as of January 6, 2023. Key findings are as follows:

* The net number of homebuyer assistance programs is up. The total number of programs increased by 42 in Q4 2022. Among them were five nationwide or multi-state programs and seven statewide programs.

* Support for first-time homebuyers increased. The number of programs dedicated to supporting first-time homebuyers now totals 1,315, up from 1,291 in Q3 2022.

* Support for multifamily homebuyers increased. Programs that support multifamily homeownership saw a 5.5% increase over Q3 2022. These programs now make up 29.3% of all homebuyer assistance offerings.

"While economic roadblocks caused the percentage of programs actively receiving funding to decrease marginally in Q4, homebuyer assistance still saw steady growth in 2022," said DPR CEO Rob Chrane. "Until home prices and mortgage rates decline and the housing market recovers, down payment assistance will be a crucial source of financial support for homebuyers that lack the savings to cover an inflated down payment."

A more detailed analysis of the Q4 2022 HPI findings, including infographics and examples of many of the programs described in this release, can be found on DPR's website at https://downpaymentresource.com/professional-resource/homebuyer-assistance-offerings-increase-for-the-fifth-consecutive-quarter-in-q4-2022/.

For a complete list of homebuyer assistance programs by state, visit https://downpaymentresource.com/wp-content/uploads/2023/01/HPI-state-by-state-data.Q42022.pdf.

About Down Payment Resource:

Down Payment Resource (DPR) is an award-winning technology provider helping the housing industry connect homebuyers with the homebuyer assistance they need. With toolsets tailored for real estate agents, multiple listing services and mortgage lenders, DPR's technology empowers housing professionals to make affordable home financing opportunities more accessible while growing business and forging referral partnerships. The only organization to track the details of every U.S. homebuyer assistance program, DPR frequently lends its expertise to nonprofits, housing finance agencies, policymakers, government-sponsored enterprises, think tanks and trade organizations seeking to improve housing affordability. Its technology is used by five of the top 10 retail mortgage lenders by volume, three of the four largest real estate listing websites and 500,000 real estate agents. For more information, visit https://downpaymentresource.com/.

Related link: https://www.downpaymentresource.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

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