DSNews delivers stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry.
Issue link: http://digital.dsnews.com/i/1424633
59 Industry Updates and 92nd streets to meet the residents' needs for affordable housing, commercial and retail development, tourism and recreational activities. Ernest Coney Jr., President and CEO of Corporation to Develop Communities of Tampa, Inc., said his organization will use the dollars to limit gentrification in East Tampa, coordinating the work of two dozen cross-sector partners in six areas: affordable housing, commercial development, small business growth, homebuyer development, workforce development, and asset growth. Plans include lending for home mortgages, small businesses and commercial properties, as well as the development of more than 300 affordable housing units and 100,000 square feet of new commercial space that can house entrepreneurs and small businesses. "e residents of East Tampa have been waiting and hoping for economic inclusion for a long time. e partnership with Fifth ird will allow us to significantly increase the economic mobility and redevelopment process in East Tampa, helping to bring unfilled dreams and aspirations to reality," he said. e Neighborhood Investment Program is part of Fifth ird's $2.8 billion commitment that will provide $2.2 billion in lending, $500 million in investments, $60 million in financial accessibility and $40 million in philanthropy from the Fifth ird Foundation as part of Fifth ird's Accelerating Racial Equality, Equity and Inclusion initiative. e commitment is focused on four strategic pillars that directly impact customers and communities with targeted outcomes enabling Fifth ird to track progress and measure success in the areas of strategic investments, access to capital, financial inclusion and education, and social justice and advocacy. is program also aligns with Enterprise's new strategic plan and three central goals: to increase housing supply, advance racial equity and build resilience and upward mobility. "is is an opportunity to pioneer a new approach," said Tim Spence, Fifth ird Bancorp President. "We believe this is truly an innovative initiative that will bring resources and expertise from across our banking teams to focus on building long-term, sustainable growth for each of these communities. Our aspiration is to help these neighborhoods create transformational and sustainable impact." FREEDOM MORTGAGE OFFERS BORROWERS FREE ACCESS TO FINANCIAL RESOURCES NATIONWIDE Freedom Mortgage, one of the largest full-service mortgage companies and the top VA and top FHA (government-insured) lender in the United States, is providing its customers and consumers who need financial assistance with easy, free access to nonprofit and government resources through SpringFour, a social impact fintech company. "When emergencies happen, it can be overwhelming and stressful for anyone to pay for their basic needs," said Stanley C. Middleman, Freedom Mortgage Founder and CEO. "In addition to fostering homeownership, we believe in helping our customers any way we can. We're pleased to offer our customers an easy-to-use online resource with information and programs that can be life-saving in some cases, such as helping a family find food assistance programs or pay for electricity." SpringFour's cloud-based self-service financial wellness platform, S4direct, gives Freedom Mortgage borrowers access to resources from more than 20,000 local government and nonprofit entities in 625 cities across the United States. Assistance is available in 30 different categories, including mortgage assistance programs, financial counseling, utilities savings, and more. With resources updated regularly and a team that has extensive experience in social services, community development, and nonprofit work, SpringFour delivers resources from the most trusted organizations. Rochelle Gorey, SpringFour Co-Founder and CEO, said, "We're proud to partner with Freedom Mortgage on helping their customers access much-needed resources especially during these challenging economic times. By putting their customers' and communities' needs first, Freedom Mortgage is showcasing their leadership in the mortgage servicing industry."