NexBank SSB, headquartered in Dallas, now offers a jumbo mortgage product for home loans from $1.5 million to $10 million. According to NexBank, the new product represents a shift for the company, which has heretofore not focused on residential loans in this category.
As the decline of the lending industry on the national level has negatively affected the real estate market, attractive options for high-end borrowers in Dallas have been limited, explains Davis Deadman, CEO and president of NexBank. The firm says its jumbo mortgage offers less execution risk for mortgage brokers while providing an option for homebuyers looking to finance high-end residential purchases.