Company collaborates with J.P. Morgan to address the growing needs of lenders in underserved segments of the U.S. mortgage market
MAXEX today announced the launch of the first two programs in its new Environmental, Social and Corporate Governance (ESG) business line. The initial programs are designed to support the growth of minority, women and veteran-owned mortgage lenders.
MAXEX will facilitate lending in underserved market segments by offering preferred loan pricing for qualified lenders through these ESG programs. As a leader in the capital markets, J.P. Morgan has agreed to purchase and securitize certain qualifying loans which ultimately allows for more liquidity and better access to home mortgages in a critical part of the housing market.
“MAXEX is ideally positioned to connect institutional investor demand for ESG-compliant loans with the needs of a diverse group of lenders. This socially responsible program will enable lenders that are uniquely positioned to reduce the cost of homeownership in underserved markets,” said Tom Pearce, Chairman and CEO of MAXEX. “I am honored that MAXEX will be able to help level the playing field for minority, women and veteran mortgage business owners across the nation.”
MAXEX is the industry’s first digital mortgage exchange and clearinghouse whose ESG loan programs for qualified minority, women and veteran-owned lenders include:
- MAXEX Opportunity: MAXEX’s market-leading jumbo loan program, with improved pricing for minority, women, and veteran-owned lenders.
- MAXEX Opportunity Express: Enhanced pricing and reduced manual underwriting by leveraging certain results from Fannie Mae’s Desktop Underwriter® and Freddie Mac’s Loan Prospector Advisor(SM).
MAXEX and J.P. Morgan are also in the process of delivering additional socially responsible ESG loan programs through MAXEX. The company expects to launch a clean energy program in early 2021, which is designed to facilitate lending for homes with renewable energy enhancements such as solar panels and geothermal units.
Learn more about MAXEX’s full suite of lending programs by visiting maxex.com/programs.