Every June, National Homeownership Month celebrates the value owning a home can bring to families and communities. Created in 1995 as National Homeownership Week by President Bill Clinton to help increase homeownership in America, the period was extended to a month by President George W. Bush in 2002.
To help celebrate National Homeownership Month, North American Savings Bank (NASB) hosted a webinar focusing on portfolio loans and mortgage programs available to borrowers.
Entitled “NASB Talks Portfolio Loans and Mortgage Programs,” the webinar was hosted by Natalie Rowe, NASB's Community Development Manager (NMLS #1078069), and was joined by NASB CRA loan officer Richard Colbert (NMLS #415163) and NASB VP of Portfolio Lending Matt Allen (NMLS #415037).
Richard Colbert discussed how NASB’s Good Neighbor Product and Good Neighbor Discount Program can help local borrowers achieve homeownership. “In an extremely competitive market, where down payment and closing cost can add up, this program allows for relief by waiving the origination fee and either choosing to have part of the closing costs covered or receive a lower interest rate, resulting in a lower monthly payment,” says Colbert.
Matt Allen, NASB’s Vice President of Portfolio Lending, talked about the different types of portfolio loans borrowers with special circumstances can receive, like if they are self-employed. “Bank Statement Loans are ideal for self-employed borrowers who cannot obtain a home loan through traditional means and would rather use their bank statements to document their income,” says Allen.
Click here to watch a recording of the “NASB Talks Portfolio Loans, and Mortgage Programs” webinar.