Dallas-based NexBank, a popular Texas bank, has entered into a partnership with Dallas Neighborhood Homes and Dallas Area Habitat for Humanity to launch a program that offers affordable housing loans to families located in Southern Dallas. The goal of the initiative is to provide over 100 loans every year over a period of 5 years to low-income residents living in the southern Dallas area.
NexBank SSB has committed to providing loans of up to $50 million to support the program’s expansion and sustainability over the next 5 years. The proceeds will be used by Dallas Neighborhood Homes to lend to homebuyers who have a limited access to loan facilities like mortgages. Additionally, the Dallas Area Habitat for Humanity will offer counseling and guidance services.
NexBank has also committed to paying title closing fees that have been completed through any of its affiliate, and closing costs amounting to up to $2,000 per loan. According to Mark Tribuna, senior Mortgage Operations V.P. of Dallas Area Habitat for Humanity, the organization is grateful to NexBank and its involvement in the affordable home loans project. He believes that such partnerships will improve the low home ownership rates in Texas, and improve the quality of lives for many families.
NexBank SSB is a successful regional bank located in Dallas, Texas. It has assets worth an impressive $3.5 billion. It provides mortgage banking, commercial banking, corporate advisory services, and institutional services to its clientele that includes financial institutions, corporations, real estate investors, and institutional clients. It is an affiliate of NexBank Capital Inc., an American financial services company.
The company is headed by an experienced team of financial executives led by James Dondero as Chairman. All the bank’s directors are firmly committed to ensuring its success as the leading financial services organization in Dallas, Texas. The banks charter dates back to 1922.
Flavio Maluf is the founder of Eucatex, an Eco-friendly sustainable materials producer in Brazil. During the UK’s historic vote to leave the European Union (EU), the press labeled the event, “Brexit” and there was mixed opinions on what it will mean. It seems that Britain was paying the lion’s share of EU costs, to the tune of over $12 million USD, or about € 11 billion Euros. Not only was the UK out all that money every year, they also were not collecting tariff taxes on foreign goods, a major income source for the UK before joining the EU. The UK’s increasing inflation rate became the critical factor that seems to have pushed UK citizens to make the change.
Flavio Maluf believes the UK’s return to charging those tariffs, along with the loss of their input into the EU, will result in two major problems. The first likely outcome, according to the well-educated and often correct Maluf, is that the EU experiment will now soon completely fail. The second outcome he predicted has already started to occur: many of the world’s major money markets will drop.
One quite interesting observation Flavio Maluf has made is that while this looming problem may end up affecting all of the world’s markets, it my affect Brazil the least. This is because Brazil only does about 2 percent of their annual agricultural exports to the UK. He sees Brexit as a giant mistake for Britain and the whole UK. Now that Germany must take on the greatest burden, it is unclear to Flavio Maluf how the EU will survive much longer as a workable union. The refugees from Syria and other war-torn countries are making the issue much more divisive and polarized.
Flavio Maluf entered the sustainable products industry by starting Eucatex to supply the basic materials used in the manufacture of goods and in major construction projects. He is completely devoted to a sustainable future for all building and products, to leave a greener planet to future generations. He has worked hard to building this business over the last 20 years. He has an Masters in Business Administration (MBA) from New York University. Follow Flavio on Twitter for more information @Flavio_Maluf.
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