Premium Mortgage Corporation Launches Neighborhood Vitality Program for Under-Served Communities

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ROCHESTER, NY, June 28, 2021 / PRNewswire / – As a lender proud of its innovation, technology and inclusiveness, Premium Mortgage Corporation is proud to announce the rollout of its “Neighborhood Vitality” program; a strategy he says will help underserved communities in upstate New York. Premium Mortgage Corporation, which already provides more minority loans in Buffalo than any other non-bank lender, has created a special financing fund of a minimum of $ 500,000 to further incentivize the purchase of homes in historically disadvantaged communities. . Additionally, these funds will be advertised and distributed through Premium Mortgage Corporation’s proprietary software that will identify properties in underserved communities for which the incentive is available, and advertise the incentive to real estate agents and consumers alike. manner that will encourage the purchase of real estate property in these targeted communities.

Premium Mortgage Corporation Launches Neighborhood Vitality Program for Under-Served Communities

Premium Mortgage Corporation began developing the technology and offering incentives in early 2021, while it and several other lenders were vetted by the NYS Department of Financial Services – Consumer Protection Division regarding their lending practices. . DFS ultimately concluded its investigation by concluding that with respect to Premium Mortgage Corporation, there was no “evidence of willful discrimination, misconduct or other violations of the law” by the company or its employees. Nonetheless, Premium Mortgage Corporation elected to enter into a deal with DFS upon completion of its review, to use the Neighborhood Vitality program, and to invest a minimum of $ 500,000 in purchase incentives to help the state achieve its goal of revitalizing the real estate market in these underserved areas.

Mike Donoghue, Founder and President of Premium Mortgage Corporation, said, “I am proud to work with a group of innovative and community-focused people. We use the latest technology to benefit our communities and solve problems that have roots going back to their very beginnings. ”As Donoghue explained,“ We ​​didn’t just want to spend money to solve the problem – c is easy – anyone can do it. We wanted to find a way to put the money in the hands of those who need it and can use it. to revitalize their neighborhoods. Premium Mortgage Corporation believes its strategy – which has already awarded over $ 100,000.00 in incentives – may be an example for other lenders and other communities.

About Premium Mortgage Corporation Based in Rochester, New York, Premium Mortgage Corporation serves the residential real estate markets of upstate New York, Florida, Vermont, Massachusetts, Connecticut, Pennsylvania and Ohio. Since opening in 1999, the company has over 200 employees and attributes its success to matching mortgage financing to the needs of individual clients, while providing excellent customer service to real estate agents in the community. For current mortgage news, please visit: www.premiummortgage.com and follow Premium on Facebook, LinkedIn and Instagram.

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