DALLAS, Jan. 24, 2014 /PRNewswire/ -- National mortgage lender PrimeLending announced that it has donated $15,000 to two community organizations – the Allston Brighton Community Development Corporation (CDC), based in Allston, and Urban Edge, located in Roxbury – both of which support sustainable homeownership and affordable housing in diverse communities of Massachusetts.
"Although our program roots are in the Allston Brighton neighborhood of Boston, our expansion throughout Eastern Massachusetts has allowed us to support low- and moderate-income borrowers," says Allston Brighton CDC Director of Homeownership Michelle Meiser. "We also work to correct the racial imbalance of homeownership in Massachusetts as well. In Massachusetts, 69% of white households own their own home versus 32% of households of color."
PrimeLending is also proud to support Urban Edge's Foreclosure Prevention Counseling Program, which has helped hundreds of Boston-area homeowners stay in their homes. The nonprofit's client base comprises roughly 69 percent Black or African-American and 17 percent Hispanic or Latino. Additionally, 41 percent are low-income households and 30 percent are moderate-income.
"At Urban Edge, each homeowner is assigned a personal counselor who works with the homeowner from intake to completion," says Urban Edge Resource Development Manager Leroy G. Stoddard. "The intake consists of developing a realistic budget and a collaborative action plan."
The donations made by PrimeLending are part of the mortgage lender's efforts to help underserved communities and diverse homebuyers succeed financially, says PrimeLending's Vice President and National Director of Multicultural Community Lending Latonia Donaldson.
"Diversity is vitally important to PrimeLending as we strive to reach our goal of being a leader in financial services," Donaldson adds. "In realizing the growth of minorities in the home-buying market, we seek to educate, share and create strategies to help them succeed."
PrimeLending, a PlainsCapital company, is a Dallas-based residential mortgage originator with more than 300 locations in 42 states. In 2012, PrimeLending was listed as the No. 4 mortgage lender in the nation in purchase units.1 Offering fixed, adjustable rate, FHA, VA, USDA and jumbo loans, refinancing and relocation programs, PrimeLending is licensed to originate and close loans in 50 states. Founded in 1986, PrimeLending is a member of the PlainsCapital Corporation family of companies. PlainsCapital Corporation is a wholly owned subsidiary of Hilltop Holdings (HTH). Find more information at PrimeLending.com. Equal Housing Lender.
Source: 1As listed by Marketrac, powered by CoreLogic® for Jan – Dec 2012
© 2014 PrimeLending, a PlainsCapital Company (NMLS:13649). Equal Housing Lender. For full licensing and disclosure information, visit primelending.com.
- Banking & Budgeting