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MortgagePoint » Your Trusted Source for Mortgage Banking and Servicing News 24 July 2023 I N D U S T R Y U P D A T E are available in North Carolina, South Carolina, Florida, Illinois, California, Wis- consin, and Washington. One year into the three-year program, Self-Help has served more than 350 individuals through finan- cial coaching, preparing them to increase emergency savings, reduce debt, and build credit to prepare for homeownership. » A $3 million commitment to the Housing Partnership Network to support the Com- munity Aggregators Group—a group of nonprofits that bid on government-owned home mortgages, acquire and rehab homes, and make them available primarily to first-time, low-income homebuyers at affordable prices. The group has won 230 bids to date—preserving those units for affordable homeownership. JPMorgan Chase's commitment also supports the Equitable Homeownership Collaborative, comprised of CDFIs who aim to increase homeownership opportunities for people of color. » A $2.5 million commitment to Atlanta Neighborhood Development Partnership (ANDP) to increase the supply of afford- able, single-family homes. The invest- ment will help ANDP develop affordable homes for sale and lease and provide down payment assistance to qualifying low- and moderate-income homebuyers, including those in predominately Black neighborhoods in metro Atlanta. ANDP is also committed to investing in minority and women-led developers and contrac- tors to develop more homes. These efforts combined are anticipated to impact at least 507 metro Atlanta families. To date, the support has contributed to 210 ANDP affordable homes completed or under con- struction and nearly $21 million invested in small, Black-owned developers and real estate-affiliated businesses. "Today's commitment is part of our ho- listic, firmwide approach to combatting the housing crisis," said Tim Berry, Global Head of Corporate Responsibility, JPMorgan Chase "We are combining our unique resources including business, philanthropy, research, and policy expertise to help increase access to capital and inventory of sustainable housing opportunities. We are committed to creating tangible solutions that help everyday Americans." BNCCORP, INC. COMPLETES SALE OF MORTGAGE BANKING UNIT B NCCORP, INC. (BNC), which oper- ates community banking and wealth management businesses in North Dakota and Arizona, announced that it has completed the sale of its mortgage banking business to First Federal Bank. "We are pleased to have completed the sale of our residential mortgage business," said BNCC Chairman Michael Vekich. "The trans- action lets us focus more intently on our core banking activities to the benefit of our share- holders and the communities that we serve. I particularly want to thank our mortgage business employees for the contributions the unit made over the years and wish them well as they move forward as a part of First Federal." As part of its community banking activ- ities, BNC Bank will continue to arrange or facilitate residential mortgage loans for its bank and wealth management customers. FIRST FEDERAL BANK ACQUIRES MORTGAGE DIVISION FROM BNC NATIONAL BANK F irst Federal Bank announced the acquisition of assets and employees of BNC National Bank's mortgage division and welcomed the new team. The new team will augment the legacy First Federal markets, serving customers from locations in Overland Park, Kansas, Moline, Illinois, and Bismarck, North Da- kota locations and in the Phoenix, Arizona market. First Federal Bank originates loans nationwide with mortgage processing centers in Georgia, Wisconsin and Florida. As a community-based mutual institution headquartered in Lake City, Florida, the bank is owned by its customers rather than stock- holders, and has 25 branches in the Southeast and operations in the Midwest. "With the acquisition, First Federal gains a nationwide consumer direct mortgage platform and offers the benefits of community banking, customer service, and stability to the expanded customer base in new markets," says John Medina, President and CEO of First Federal Bank. "Since 1962, it has been our mis- sion is to provide solutions from a financially stable institution. This acquisition expands our commitment to customers and the residential mortgage sector. We look forward to serving the new mortgage customers with the same excellence they enjoyed from the BNC team." The acquisition of BNC National Bank's mortgage division enables First Federal to better serve the customers of both organiza- tions, offering additional technology tools and an expanded product offering. "We welcome the new employees to our Residential Lending Team and look forward to helping more cus- tomers enjoy the benefits of home ownership" says Paul Ottendorf, Division President. The new customers will transition to a First Federal brand immediately. "BNC National Bank's mortgage division team looks forward to offering new and enhanced prod- ucts to our customers as First Federal Bank Mortgage Lenders" says Doug Brendel, Pres- ident Mortgage Banking. With the expanded product offering and strong digital tool set, First Federal will continue to be lauded as one of the best small banks. CLIMATE VAULT SOLUTIONS LAUNCHES TO MEET GROWING DEMAND FOR DATA-DRIVEN CLIMATE ACTION C limate Vault Solutions, a climate solutions provider that provides a comprehensive solution for veri- fiable and immediate carbon calculations, reductions, and removals, launched after