Alliances and Partnerships, Atlanta Neighborhood Development Partnership, Business, Real Estate

Down Payment Resource donates $10,000 to help an Atlantan buy a home this holiday season

ATLANTA, Ga. -- Down Payment Resource (DPR), the housing industry's leading technology for connecting home buyers with homebuyer assistance programs, today announced a $10,000 donation to the Atlanta Neighborhood Development Partnership to be used as a grant to help an eligible homebuyer working with the local nonprofit housing agency.

"Atlanta is ranked first in home price appreciation (68.6%) and fourth in rent increases (30%) according to data reported by the Atlanta Regional Commission data, factors that make it even harder for first-time homebuyers to get their foot in the door," said DPR Founder and CEO Rob Chrane. "We are proud to partner with ANDP to help a local homebuyer have a homeownership stake in their community. We want to do all we can to tip the scales in favor of homeownership, particularly among traditionally underserved buyers."

ANDP develops, finances, and advocates for affordable housing that promotes racial equity and healthy communities where families thrive. The grant funded by DPR is intended for a buyer whose income is at or below 80 percent of the area median income (AMI) and not receiving additional financial assistance from ANDP. The funds can be used for down payment or closing costs (including a rate buydown) on the purchase of an ANDP property.

"We are pleased to receive donations year-round, but there's something special about gifts received during the holidays that just makes this gift very special. We appreciate the ongoing support of DPR, especially in these times when buying a home may seem out of reach for many," said John O'Callaghan, president and CEO of ANDP. "Gifts like these restore hope for our clients and help them take that all-important step toward building generational wealth through homeownership."

About ANDP:

ANDP was created in 1991 as a result of the merger of the Metropolitan Atlanta Chamber of Commerce's Housing Resource Center and the Atlanta Economic Development Corporation's Neighborhood Development Department. The impetus for ANDP's creation was to address the diminishing supply of affordable housing in the Metropolitan Atlanta region as well as to help reclaim declining neighborhoods in its core. Throughout its history, ANDP has supported the creation of more than 11,000 units of housing for people of low-to-moderate incomes. For more information, visit the ANDP Homes website.

About Down Payment Resource:

Down Payment Resource (DPR) is the housing industry authority on homebuyer assistance program data and solutions. With a database that tracks more than 2,200 programs and toolsets for mortgage lenders, multiple listing services and API users, DPR helps housing professionals connect homebuyers with the assistance they need. DPR frequently lends its expertise to nonprofits, housing finance agencies, policymakers, government-sponsored enterprises 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 600,000 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

African American Youth Climate Summit, COP28 Dubai, Education and Schools, Environment and Ecology, United Nations Climate Change Conference

Renowned Climate Activist and HBCU Green Fund Founder, Felicia Davis, Unveils Empowering Global Youth Initiatives at COP28

ATLANTA, Ga. -- Distinguished climate activist and founder of the HBCU Green Fund, Felicia Davis, took center stage at the United Nations Climate Change Conference (COP28) in Dubai, making groundbreaking announcements that underscore the organization's commitment to global climate action and youth empowerment.

In a momentous press conference, Davis announced the official opening of the HBCU Green Fund's new Africa office in Senegal and revealed plans for the third annual Pre-COP Africa, African American Youth Climate Summit, set to take place in Dakar in June 2024.

"Establishing a significant presence in Africa positions HBCU Green Fund to give voice to people most impacted by climate change and help to cultivate innovative youth leadership," Davis commented.

Cheikhou Thiome, HBCU Green Fund's Africa director adds, "Our Pre-COP29 summit will bring young leaders, activists, and innovators from the United States and across Africa together in Dakar, Senegal to engage in constructive dialogues, share insights, and ignite climate action."

HBCU Green Fund's Managing Director, Illai Kenney, shared insights into the organization's extensive involvement at COP28, with eight delegates from the United States credentialed through partner Omega Institute, and network representatives from 12 African countries. Kenney emphasized the HBCU Green Fund's dedication to empowering future leaders through supporting youth led projects in Africa and the US.

"We have a unique Eco Spring Break program that is a service-learning experience connecting HBCU students with peers in West Africa that involves hands-on environmental restoration projects. The program offers students, faculty, and alumni the chance to plant trees, dig wells, plant gardens and gain firsthand experience in addressing environmental challenges," said Kenney.

Dr. Mustafa Santiago Ali, executive vice president, National Wildlife Federation; Hussein Kassim, Ghana project director; Sharon Gakii Mureithi, Kenya project director, and Denise Ayebare, Uganda local youth coordinator joined Davis, Kenney and Thiome for the press conference.

In addition to the press conference, HBCU Green Fund delegates actively contributed to multiple COP28 side events. Davis delivered a powerful keynote speech at the Uganda Pavilion emphasizing the role of youth in addressing the climate crisis. She also participated in a panel discussion with Dr. Ali at the Kenya Pavilion and Lucky Abeng, a coordinator from Nigeria, organized a conversation that included contributions from Davis and Mithika Mwenda, executive director of the Pan African Climate Justice Alliance. Davis also contributed to side events organized by young climate leaders from Zimbabwe, Burkina Faso, and Tanzania.

Another member of the delegation, Pamela Fann of Impact Energy, moderated a discussion about the energy transition with Davis as a panelist. Fann also coordinated sessions for partner organization, Harambee House/Center for Environmental Justice, featuring renowned environmental justice leader and executive director, Dr. Mildred McClain.

Young leaders in the HBCU Green Fund delegation played a pivotal role in several youth events. Kenney, a former youth activist and the youngest speaker at the UN Conference on Sustainable Development in South Africa in 2002, spoke about cultivating young leaders at the launch of the Stone Soup for a Sustainable World Curriculum. She also organized and facilitated the HBCU Green Fund's day-long workshop and 2024 strategy session for youth delegates. The workshop included a briefing by the founder of the Chisholm Legacy Project, Jacqui Patterson, along with her team, on the Global Afro-Descendant Climate Justice Collaborative.

In response to the overall outcome of COP28 Davis says, "A stronger commitment to phasing out fossil fuels remains a reach, however, acknowledging the need to transition away from fossil fuels is still a small step forward. Ultimately, it is action rather than rhetoric that will make the difference for vulnerable communities already impacted by climate change." She continued, "The HBCU Green Fund's impactful presence at COP28 reflects its commitment to global climate action, sustainability, and empowering the next generation of leaders in the fight against climate change."

For more information on the HBCU Green Fund, Sustainable Africa Network, or the 2024 Pre-COP Africa, African American Youth Climate Summit visit https://hbcugreenfund.org/ or check for @hbcugreenfund on social media.

Related link: https://hbcugreenfund.org/

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

Business, Regional Events

FormFree president Eric Lapin to speak on artificial intelligence at MISMO Winter Summit

ATHENS, Ga. -- FormFree® today announced its President Eric Lapin has been selected to speak at the MISMO Winter Summit taking place January 8-11, 2024, at The Woodlands Resort just outside of Houston, Texas. Lapin will speak on a panel titled "Demystifying Artificial Intelligence, Digital Identity and Blockchain" during a brown-bag lunch session on January 9 from 12:30 pm-1:25 pm CT. He will be joined by fellow panelists Devin Caster, principal, product solutions at CoreLogic; Rishi Godse, principal technical architect at USAA; and Shawn Jobe, vice president and head of business development at Informative Research.

A mortgage industry veteran of more than 25 years, Lapin's experience at FormFree and past leadership roles at Old Republic (NYSE: ORI), Black Knight (NYSE: BKI), Credit Suisse (NYSE: CS) and Provident Bank (acquired by PNC) have made him an in-demand speaker on AI, blockchain and other innovative topics related to housing finance technology. His past speaking engagements include the Conference of State Bank Supervisors' Regulatory Summit, the Government Blockchain Association's Blockchain and Infrastructure Conference, Experience FinXTech and NAHREP's TechCon.

"Lenders that want to maintain their innovative edge in 2024 and beyond need to keep pace with the fast-evolving field of artificial intelligence and understand the risks and opportunities it presents to originators, investors and consumers," said Lapin. "By bringing this essential content to its Winter Summit, MISMO is helping mortgage finance leaders prepare for a fundamental shift in the way we do business."

The Mortgage Industry Standards Maintenance Organization (MISMO®) is a not-for-profit, wholly owned subsidiary of the Mortgage Bankers Association responsible for developing standards for exchanging information and conducting business in the U.S. mortgage finance industry. Its three annual summits (Winter, Summer and Fall) facilitate networking and collaboration among industry colleagues while providing opportunities to learn the latest mortgage industry updates.

To register for MISMO's Winter Summit, visit https://www.mismo.org/events-education/mismo-summit-.

About FormFree®:

FormFree empowers consumers to understand their ability to pay and share it with lenders like never before. Using FormFree's Passport® app, consumers can verify all the core financial data required by loan underwriters - including identity, assets, income, employment credit history and cash-flow data - in seconds. Once consumers are ready to transact, they can anonymously share their verified data on the FormFree Exchange (FFX) and receive immediate offers from a marketplace of lenders who fully understand their ability to pay, residual income and eligibility for down payment assistance and inclusive lending programs. 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

Business

FormFree appoints Solvent CEO DIVINE as head of culture

ATHENS, Ga. -- FormFree® today announced the appointment of former hip-hop/rap recording artist-turned-techpreneur Victor D. Lombard, professionally known as DIVINE, as head of culture.

DIVINE is the CEO and founder of Solvent, a fintech focused on financial empowerment for marginalized groups. Solvent broke ground in 2022 when it was accepted as part of the inaugural cohort of Amazon's AWS Impact Accelerator for Black Founders, an eight-week program designed to help high-potential, pre-seed startups led by under-represented founders.

Additionally in 2022, Solvent was accepted into Village Capital's Innovations in Justice Tech, a fellowship program in collaboration with AmFam Institute and Dream.org that supports entrepreneurs building innovations to improve the lives of individuals and communities impacted by the justice system.

DIVINE grew up in Fort Greene, Brooklyn, and endured childhood poverty and incarceration at age 19. Realizing his potential was boundless but his options were limited, following his release DIVINE took a leap of faith and asked Ben Horowitz, general partner and co-founder of venture capital firm Andreessen Horowitz, to mentor him. Horowitz, who grew up a hip-hop/rap fan in Berkeley, California, agreed. The mentorship proved a turning point for DIVINE, and his transformation from system-impacted youth to tech-founder has been featured in Forbes, TechCrunch, Black Enterprise, Entrepreneur and Inc.

"We are extremely pleased that DIVINE has joined us and feel he is uniquely qualified to convey our message of financial parity for unserved and underserved communities," said FormFree CEO and founder Brent Chandler. "DIVINE will be on the front lines of FormFree's engagement of unserved and underserved communities he connects with in ways that are authentic and impactful."

DIVINE joined Chandler and Kevin Harrington of ABC's Shark Tank fame at the Mortgage Bankers Association's 2023 Convention & Expo in support of FormFree's launch of Passport and the FormFree Exchange (FFX). Following a discussion of the opportunities lenders have to meet a diverse array of homebuyers with a consumer-centric experience, DIVINE closed out the session with a performance of his song H.O.P.E. (Helping Oppressed People Elevate).

As head of culture at FormFree, DIVINE will use his new platform and hip-hop/rap talent to reach out to unserved and underserved urban renters with messages of financial empowerment and hope. Further, DIVINE will work closely with Harrington in a collaborative partnership with FormFree to bring awareness and empowerment to this audience.

"Hip-hop/rap culture and music in particular is a universal and global language," said DIVINE. "What better way than using it to help build awareness of the benefits of homeownership and provide a technology bridge so people will be able to take control of their financial futures."

"Technologies like Passport and the FormFree Exchange can change everything for minority homebuyers, getting rid of the disregard on one side and distrust on the other. It takes all the judgment away. Borrowers can raise their profile with lenders, and lenders know they're creditworthy and compete for their business, so it's a win-win for buyers and lenders," added DIVINE. "With Solvent and FormFree's shared mission and vision, there's a perfect alignment, and I'm really proud to be part of this unique partnership to bring about transformation."

About FormFree®:

FormFree empowers consumers to understand their ability to pay and share it with lenders like never before. Using FormFree's Passport® app, consumers can verify all the core financial data required by loan underwriters - including identity, assets, income, employment credit history and cash-flow data - in seconds. Once consumers are ready to transact, they can anonymously share their verified data on the FormFree Exchange (FFX) and receive immediate offers from a marketplace of lenders who fully understand their ability to pay, residual income and eligibility for down payment assistance and inclusive lending programs. 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

Business

Strategic Benefits Advisors hires industry veteran Michael Yaschik as a senior benefits consultant

ATLANTA, Ga. -- Strategic Benefits Advisors (SBA) today announced the appointment of Michael Yaschik as a senior benefits consultant. In this role, Yaschik will counsel SBA's clients as they navigate both strategic benefits initiatives and everyday administration of their pension, 401(k) and health and welfare (H&W) plans.

Yaschik brings more than 25 years of pension consulting experience to SBA. He most recently served as a senior project manager at global professional services firm Aon (NYSE: AON), where he managed a team of customer service representatives, pension analysts and technical analysts as they helped new clients implement custom pension administration systems and provided ongoing pension administration services. Prior to his 24 years at Aon, Yaschik was a benefits analyst for Atlanta-based pulp and paper company Georgia-Pacific.

"At this time of sweeping transformation in the benefits landscape, employers need experienced advisors they can rely on for sound guidance and creative approaches for anticipating and solving problems," said SBA Founding Principal Mindy Zatto. "SBA is proud to welcome Michael Yaschik as a senior benefits consultant. His quarter-century of experience significantly augments a team we are already proud to call one of the most tenured in the business."

"The most rewarding part of my career has been building long-term trust with clients through the delivery of thoughtful guidance and attentive service," said Yaschik. "I'm excited to join a team that shares these values, and I am energized by the opportunity to forge new relationships and solve fresh challenges on behalf of SBA's clients."

Yaschik earned his bachelor's degree in risk management in 1997 from the University of Georgia's Terry College of Business, where he graduated cum laude. He earned his master's degree in business administration (MBA) in finance from Georgia State University's J. Mack Robinson College of Business in 2000.

About Strategic Benefits Advisors:

Strategic Benefits Advisors, Inc. (SBA) is an independent, full-service employee benefits consulting firm focused on creatively and effectively solving complex benefits issues for clients ranging from 1,000 to over 300,000 employees. Founded in 2002 by veteran consultants Mindy Zatto and Andy Adams, SBA provides practical consulting recommendations and expert implementation of solutions for all types of employee benefits programs, including retirement, health and welfare, financial wellness and employee recognition. With an average of over 25 years in the field, SBA's team of actuaries, consultants and systems specialists is among the most experienced in the industry.

For more information, visit https://www.sba-inc.com/.

Related link: https://www.sba-inc.com/

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

Business, down payment assistance, MX Technologies Inc, Software

FormFree welcomes MX Founder and Executive Chair Ryan Caldwell to its board of directors

ATHENS, Ga. -- FormFree® today announced the appointment of MX Technologies, Inc. (MX) Founder and Executive Chair Ryan Caldwell to its board of directors. Caldwell brings more than 20 years of experience in financial services and fintech, helping organizations around the world harness the power of financial data to improve business and consumer outcomes.

"Few people bring the passion and vision to a challenge like Ryan Caldwell. He is a strong advocate for creating an open finance ecosystem that offers improved financial outcomes for consumers and the businesses that serve them, which aligns with our own philosophy," said FormFree founder and CEO Brent Chandler. "We're honored to have Ryan join our board of directors as we decentralize consumer financial data and democratize access to credit."

Caldwell founded MX as a mission-driven organization focused on empowering the world to be financially strong. Prior to founding MX, Caldwell built and successfully exited multiple technology startups and performed consulting work in the United States, Singapore and London for large corporations, including Visa and Microsoft.

"I am excited to continue my work with FormFree, now as a board member," said Ryan Caldwell, founder and executive chair, MX. "We share a vision to improve consumer and business outcomes by helping businesses to reliably connect and verify financial data, gain customer intelligence and deliver personalized money experiences to improve customer engagement and retention."

Caldwell and Chandler share parallel philosophies ranging from a conviction to help empower financial strength and freedom to honoring and protecting our service members and precious freedoms. Caldwell completed the majority of undergraduate hours at the United States Air Force Academy and transferred to the Marriot School of Management at BYU to finish his degree in Business Management with an emphasis in Information Systems.

About FormFree®:

FormFree empowers consumers to understand their ability to pay and share it with lenders like never before. Using FormFree's Passport® app, consumers can verify all the core financial data required by loan underwriters - including identity, assets, income, employment credit history and cash-flow data - in seconds. Once consumers are ready to transact, they can anonymously share their verified data on the FormFree Exchange (FFX) and receive immediate offers from a marketplace of lenders who fully understand their ability to pay, residual income and eligibility for down payment assistance and inclusive lending programs.

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

X/Twitter: @RealFormFree #mortgage #mortgageindustry #fintech #digitalmortgage @mX

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

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

Business, Free News Articles

Down Payment Resource highlights 61 down payment assistance programs offering up to $120,000 in funds for Veterans and service members

ATLANTA, Ga. -- Down Payment Resource (DPR), the housing industry authority on homebuyer assistance program data and solutions, is highlighting homebuyer assistance programs to support Veterans, service members and their surviving spouses in conjunction with Veterans Day and Military Family Appreciation Month, both observed in November. While service members are eligible for any of the 2,200-plus U.S. homebuyer assistance programs, DPR found there are 61 programs offering up to $120,000 in assistance specifically developed to help them build, buy or make accessibility-related home renovations.

According to the Urban Institute, 78 percent of Veteran households were homeowners, 14 percentage points higher than the total population. Active-duty service members, who are often relocated every few years, had a homeownership rate of 43 percent. Military families are not only challenged by frequent relocation (Permanent Change of Station or PCS orders) but are struggling financially in a housing market with rising home prices and mortgage interest rates the highest seen since 2000. Results from the Blue Star Families' Military Family Lifestyle Survey indicate that housing costs and relocation issues have become increasingly stressful and expensive for service members in recent years, making assistance with down payment and other purchasing costs even more essential.

An analysis of the 61 programs showcases the range of assistance available to promote homeownership among Veterans, active-duty service members and their surviving spouses:

* Financial assistance range: The programs offer homebuyer assistance ranging from $2,000 to $120,000.

* Program types: The homeownership assistance program types consist of 24 second mortgage programs, 18 affordable first mortgage programs, 15 grants, and one each below market rate (BMR)/resale restriction program, combined assistance program, voucher program and other assistance type.

* Repayment features: Twenty-four programs offer forgivable assistance, provided that all program conditions, such as owner-occupancy, are met. Fifteen programs are given as gifts with no strings attached provided eligibility criteria are met.

* Program eligibility: Thirty-five programs are for first-time buyers, while 34 are open to repeat buyers or provide a waiver for service members and Veterans.

"Having assistance to buy now, even when interest rates seem high, can help our service members start to build equity, enjoy a sense of community, and have an asset they can keep or sell if they receive PCS orders," said DPR Founder and CEO Rob Chrane. "We are extremely grateful to our Veterans, service members and their families and hope these programs can unlock the doors to homeownership and all the benefits it brings."

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

Methodology:

DPR produced homebuyer assistance program findings by analyzing its DOWN PAYMENT RESOURCE(r) database for programs with incentives for people with disabilities. 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 1,300 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.

About Down Payment Resource:

Down Payment Resource (DPR) is the housing industry authority on homebuyer assistance program data and solutions. With a database that tracks more than 2,200 programs and toolsets for mortgage lenders, multiple listing services and API users, DPR helps housing professionals connect homebuyers with the assistance they need. DPR frequently lends its expertise to nonprofits, housing finance agencies, policymakers, government-sponsored enterprises 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, https://downpaymentresource.com/.

X/Twitter: @DwnPmtResource #downpaymentassistance #VeteransDay #MilitaryFamilyAppreciationMonth #Veterans

RELATED LINKS

https://bluestarfam.org/research/mfls-survey-release-2023/

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

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

Business, Free News Articles, Reports and Studies

Down Payment Resource reports housing authorities rolled out 54 homebuyer assistance programs in Q3 and are funding buydowns to offset home affordability crisis

ATLANTA, Ga. -- Down Payment Resource (DPR), the housing industry authority on homebuyer assistance program data and solutions, reports that homebuyer assistance program administrators are responding to the mounting home affordability crisis by rapidly rolling out new homebuyer assistance programs and funding buydowns.

There are now 2,256 homebuyer assistance programs available to help people affordably finance homes, an increase of 54 programs over the previous quarter, according to DPR's Q3 2023 Homeownership Program Index (HPI) report.*

"Most first-time homebuyers are well aware that interest rates are hitting generational highs and affordability is in the gutter - but what they are not hearing is that there are 2,256 homebuyer assistance programs available to help," said Rob Chrane, founder and CEO of Down Payment Resource. "Program providers are working around the clock to ensure the programs they offer meet the needs of their markets. For this reason, many programs now allow funds to be used for buydowns and other popular financing strategies that take the edge off of monthly mortgage payments."

Key HPI Report Findings

An examination of the 2,256 homebuyer assistance programs that were active as of October 25, 2023, resulted in the following key findings:

* 295 programs will fund buydowns. Buydowns allow borrowers to lower their interest rates by paying an upfront fee. They have become a popular financing strategy as interest rates have surged.

- 253 programs will fund permanent buydowns. Permanent buydowns allow borrowers to lower the interest rate over the life of the mortgage loan by paying an upfront fee. 11.21% of programs support these buydowns.

- 66 programs will fund temporary buydowns. Temporary buydowns allow borrowers to lower their interest rates for a defined number of years at the beginning of the loan by paying an upfront fee.

* 224 programs will fund certain upfront loan fees. 9.93% of programs allow funds to be used to pay the upfront mortgage insurance premium (UFMIP) on FHA loans, the funding fee on VA loans and the guarantee fees on USDA loans.

* 71 programs will fund mortgage insurance (MI) buydowns. These programs allow funds to be used to lower monthly MI premiums.

* 50 new agencies began offering programs. More agencies have stepped up to administer homebuyer assistance programs as affordability worsens. Now, a total of 1,373 agencies provide assistance to aspiring homeowners, a 3.78% increase over the previous quarter.

A more detailed analysis of the Q3 2023 HPI findings, including infographics and examples of the programs described in this release, can be found on DPR's website at: https://downpaymentresource.com/professional-resource/the-down-payment-resource-q3-2023-homeownership-program-index-report/.

For a complete list of homebuyer assistance programs by state, visit: https://downpaymentresource.com/wp-content/uploads/2023/11/HPI-state-by-state-data.Q32023.pdf.

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 1,300 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 (MCCs) and affordable first mortgages, in the DOWN PAYMENT RESOURCE(r) database.

*On October 25, 2023, DPR updated the way it classifies certain homebuyer assistance programs that are available to the general public but also offer expanded benefits to veterans and military personnel. As a result of the update, DPR's total count of U.S. homebuyer assistance programs was adjusted downward; however, its breakdowns by region, assistance type and funding source remained the same. This change reflects an evolution of DPR's reporting methodology, not a reduction in the overall availability of homebuyer assistance. DPR normalized last quarter's data using its new counting methodology before calculating quarter-over-quarter trends.

About Down Payment Resource:

Down Payment Resource (DPR) is the housing industry authority on homebuyer assistance program data and solutions. With a database that tracks more than 2,200 programs and toolsets for mortgage lenders, multiple listing services and API users, DPR helps housing professionals connect homebuyers with the assistance they need. DPR frequently lends its expertise to nonprofits, housing finance agencies, policymakers, government-sponsored enterprises 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, https://downpaymentresource.com/.

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

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

Business, Education and Schools, Free News Articles, Funding and Investment, NonProfit and Charities

Millionaire Mastermind Academy Receives Grant from Truist Foundation to Support Diverse Entrepreneurs

ATLANTA, Ga. -- The Millionaire Mastermind Academy announced it received a recent grant from Truist Foundation to support program operations, technical assistance, and support services for diverse entrepreneurs.

"The Millionaire Mastermind Academy addresses barriers to economic mobility for women who have been systemically and historically underserved and excluded, and we are grateful for the support of Truist Foundation," said CEO and founder Dr. Velma Trayham. "When more women have access, economies grow. Women's economic empowerment boosts productivity, increases economic diversification and income equality, and other key positive development outcomes for individuals and communities."

The academy has helped over 8,000 women entrepreneurs develop and grow businesses nationwide. It serves thousands of women annually with resources, tools, and access to move forward. The Truist Foundation grant will help the Millionaire Mastermind Academy support more underserved entrepreneurs with technical support.

"Truist Foundation believes in building stronger communities and better lives by supporting the innovative work of nonprofits like the Millionaire Mastermind Academy," said Katie Saez, Truist Regional President in Georgia. "We are honored to help grow diverse entrepreneurship across Georgia and beyond."

About Millionaire Mastermind Academy:

The Millionaire Mastermind Academy is a 501(c)(3) nonprofit organization aiming to end poverty through empowered entrepreneurship, with a mission to educate and support the growth of minority women-owned businesses. Technical assistance, access to capital, and economic empowerment programs operating in Arizona, Florida, Georgia, and Texas.

For more information, please visit https://millionairemastermindacademy.org/

About Truist Foundation:

Truist Foundation is committed to Truist Financial Corporation's (NYSE: TFC) purpose to inspire and build better lives and communities. The Foundation, an endowed private foundation established in 2020 whose operating budget is independent of Truist Financial Corporation, makes strategic investments in a wide variety of nonprofit organizations centered around two focus areas: building career pathways to economic mobility and strengthening small businesses to ensure all communities have an equal opportunity to thrive. Embodying these focus areas are the Foundation's leading initiatives - the Inspire Awards and Where It Starts. Learn more at http://Truist.com/Foundation.

Related link: https://millionairemastermindacademy.org/

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

Business, Free News Articles, Reports and Studies

Down Payment Resource highlights 42 Native American homebuyer assistance programs in honor of Native American Heritage Month

ATLANTA, Ga. -- Down Payment Resource (DPR), the housing industry's leading technology for connecting home buyers with homebuyer assistance programs, is highlighting 42 U.S. homebuyer assistance programs in 14 states that are specifically designed to support Native Americans (American Indians and Alaska Natives) in conjunction with Native American Heritage month. While Native Americans are eligible for any of the 2,300-plus U.S. homebuyer assistance programs, these programs were specifically developed to provide help with down payments and/or other home-buying costs for Native American homebuyers.

The Harvard Joint Center for Housing Studies reports that 56.7 percent of Native American households own their homes, a full 15.0 percentage points lower than white households. While the federal government is responsible for providing funding for housing programs on tribal lands, historically this funding has been insufficient, according to the National Indian Council on Aging. Native Americans have faced numerous obstacles when it comes to homeownership, says the Council, including high unemployment rates and poverty, with only 8 cents of wealth for every dollar of the average white American household.

An analysis of the 42 programs showcases the range of assistance available to promote Native American homeownership.

* Eligibility: Most programs are limited to members of federally recognized tribes for purchasing homes on reservations or within specified service areas.

* Financial assistance range: The programs offer homebuyer assistance ranging from $2,125 to $90,000.

* Income requirements: Ten programs have no income requirements. Thirty-two programs have income requirements that range from 80% to 120% of the Area Median Income.

* Availability: Assistance programs are offered in 11 states and the District of Columbia. The states with the most programs are Oklahoma (13), Michigan (9) and Oregon (4). Sixteen programs are statewide, and 25 are local.

* Program types: The homeowner assistance programs encompass various types, including 33 second mortgage programs, seven grant programs and two matched savings programs. Twenty-three programs are for first-time homebuyers only, and 19 programs can be accessed by repeat buyers.

* Forgivable programs: Thirty-six of the programs offer forgivable assistance, provided that all program conditions, such as owner-occupancy, are met, further alleviating the financial burdens for aspiring homeowners.

"Native Americans continue to face hardships that can delay or prevent them from becoming homeowners, which is an important pathway to economic prosperity and community development," said DPR Founder and CEO Rob Chrane. "It's my hope that mortgage ready Native Americans will access our database to find programs specific to their tribe and region that can provide them with the resources and support they need to achieve homeownership."

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

Methodology:

DPR produced homebuyer assistance program findings by analyzing its DOWN PAYMENT RESOURCE® database for programs with incentives for people with disabilities. The DOWN PAYMENT RESOURCE® database tracks the funding status, eligibility rules and benefits of all U.S. homebuyer assistance programs using data sourced from more than 1,300 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.

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 600,000 real estate agents. For more information, visit https://downpaymentresource.com/.

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

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