Xome® Joins with the National Community Stabilization Trust to Expand Access to Affordable Housing
June 01 2022 - 9:00AM
Business Wire
Mission-driven buyers dedicated to creating
more affordable housing will have exclusive first-look access to
properties listed on Xome.com
Xome® today announced it has joined with the National Community
Stabilization Trust (NCST) to expand access to affordable housing
in the U.S. Through the program, eligible mission-driven buyers
dedicated to creating more affordable housing will have exclusive
first-look access to properties available for sale on Xome.com –
helping them identify potential properties for revitalization while
keeping the dream of homeownership alive for thousands of American
families.
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Xome’s strategic alliance with NCST aligns with the affordable
housing priorities set forth by The White House and the goal to
create, preserve, and sell 100,000 properties to owner occupants
and nonprofits over the next three years. Additionally, Xome and
NCST will jointly support the Claims Without Conveyance of Title
(CWCOT) program established by The Federal Housing Administration
(FHA) to offer an exclusive 30-day first look sales period for
owner occupants, government entities and HUD-approved
non-profits.
“We’re slowly moving toward a housing crisis in this country
where families, especially in low-income areas, are shut out from
owning a home. By joining forces with NCST, Xome has a real
opportunity to reverse this trend and provide entities looking to
expand affordable housing a leg up on purchasing potential
properties in our marketplace listings,” said Mike Rawls, CEO,
Xome. “We are proud of the work the Xome team has been doing since
2018 to expand access to homeownership for low-to-moderate income
buyers in regional markets, and we are excited to reach a national
scale through our collaboration with NCST.”
NCST’s First Look program will now give eligible buyers the
ability to acquire recently foreclosed properties on Xome.com
before they are listed for sale through traditional means.
Properties that are vacant will be allowed to be inspected in some
situations, expanding the accessibility of Xome’s inventory.
Linking NCST to Xome inventory gives mission-driven buyers the
ability to rehabilitate homes at larger scale. To date, NCST has
returned 27,000 distressed properties to productive use in
communities across the country.
“NCST’s innovative alliance with Xome will give our non-profit
developer partners new opportunities to stabilize neighborhoods and
create affordable and sustainable homeownership for families,” said
Carlos Alcazar, Acting President, National Community Stabilization
Trust.
The program will also include targeted marketing campaigns. Xome
has an established marketplace with an extensive buyer pool and
receives on average nearly 2 million unique site visits each month.
Xome will create targeted marketing campaigns for owner occupants,
government entities, and other mission-driven buyers. Xome and NCST
look forward to working together to facilitate the Administration’s
goal of increasing the supply of affordable and quality
single-family homes.
About Xome
Xome Holdings LLC is a premier asset management company with a
best-in-class auction platform providing mortgage servicers
end-to-end asset marketing and disposition strategies, recapture
solutions and real estate and data services. Based in the Dallas
area, Xome is an indirect wholly-owned subsidiary of Mr. Cooper
Group Inc. (NASDAQ: COOP). For more information, please visit
www.xomesolutions.com.
About NCST
The National Community Stabilization Trust (NCST) is a
non-profit organization that supports families and communities by
restoring distressed single-family homes, strengthening
neighborhoods, and increasing sustainable, affordable
homeownership. NCST does this by facilitating sales of distressed
homes to community-based partners, providing technical assistance
and capital for single-family rehab, and conducting federal policy
advocacy grounded in knowledge of local housing markets. For more
information, please visit https://www.stabilizationtrust.org/.
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version on businesswire.com: https://www.businesswire.com/news/home/20220601005400/en/
Christen Reyenga, VP Corporate Communications
MediaRelations@mrcooper.com
Mr Cooper (NASDAQ:COOP)
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