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.
Investment Banks play a vital role in stimulating the economy and moving capital. One of the major things investment banks do on a daily basis is to invest capital, whether is it their own money or a client’s money and use it to buy stock in a company, municipal bonds, federal bonds and even purchase companies outright.
The purchase of company stock helps companies that are issuing the stock obtain much needed capital that they need to expand or continue business operations. Bonds work in a similar way except that the issuer is a government entity such as a city or a country. Purchasing bonds gives much needed money to a government institution to complete projects such as building roads, repairing bridges or adding facilities such as schools or parks.
Investment banks also actually help companies issue the stock. They don’t just buy and sell stock themselves. For example an investment bank will be like an appraiser and determine how much the stock of a company is worth. The company hiring the investment bank for appraisal of its stock, could also task the investment bank with actually selling the stock to other investors. If this is the case the investment bank acts as a broker, which is something that investment banks frequently do. Investment banks are considered to be experts in determining the true value on the market of a newly issued company stock. Meanwhile, the buying and selling of stocks helps move equity across the markets.
Martin Lustgarten is one of the many investment bankers who has had a long and successful career in the field of investment banking. Mr. Lustgarten has his own investment banking company that he named after himself. The name of his firm is Lustgarten Martin and it is based in Florida. His company specializes in investment in Latin America, due to Martin Lustgarten’s strong grasp of the Latin American culture and Spanish language.
Now living in Ponte Vedra Beach near Jacksonville, Florida Martin Lustgarten is now focusing on spending most of his free time with his wife and kids when he is not working at Lustgarten Martin. He is the CEO there. Mr. Lustgarten is also an avid collector of unique and rare items with an eye for vintage watches.
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