Six mortgage lenders signed up for Down Payment Resource’s service in September, including Elevations Credit Union, Embrace Home Loans, Homeowners Financial Group, HomeStreet Bank, RWM Home Loans and a regional bank.
Down Payment Resource (DPR) offers a platform for connecting home buyers with homebuyer assistance programs.
IMBs, depository banks and credit union cite homebuyer assistance programs as core strategy to serving LMI and first-time homebuyers.
“With consumer awareness and demand for down payment assistance programs on the rise, Down Payment Resource has become an invaluable resource for lenders seeking to assist homebuyers to navigate the challenges posed by high interest rates and soaring home prices,” says Rob Chrane, founder and CEO of Down Payment Resource, in a release. “It is with great pride that we welcome these lenders who have a shared commitment to growing homeownership in their communities by supporting homebuyer assistance programs.”
Down Payment Resource’s solution for enterprise lenders comes equipped with four tools that streamline the operationalization of homebuyer assistance programs.
The searchable DPA Directory enables product managers to curate programs that meet secondary market requirements, CRA compliance goals and community needs.
The Loan Officer Portal automatically matches incoming borrowers to approved assistance programs.
The Underwriter Portal provides quick access to program guidelines, and the Consumer Portal generates leads by inviting homebuyers to search for DPA.
Photo: Giorgio Trovato