Fremont Bank; new lending programs for low, mid income earners

Fremont Bank turns homeownership dreams into reality for low & mid income earners.

FREMONT, California., Dec. 14. New Fremont Bank lending programs can help turn a low-income family's dream of owning a home into a reality. The Bank's Community Lending Department has introduced new services and products to low- and moderate-income families -- locally, regionally, state-wide and nationally.

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In its local communities, Fremont Bank is partnering with several cities to help families who could not previously qualify for home loans make housing down payments. The cities involved in these programs include Fremont, Hayward, Livermore, Pleasanton, San Jose, San Leandro and Union City.

Regionally, Fremont Bank is involved in several programs as well: the Neighbourhood Housing Services of Silicon Valley Down Payment Assistance Program; East Bay Delta Housing, with an executive partnership from First Home, Inc.; the Mortgage Credit Certificate Program and Re-issuance of the Mortgage Credit Certificate program (MCC & RMCC) with Alameda and Santa Clara counties; and Multilingual Homeownership Assistance, in cooperation with Lao Family Development and Freddie Mac.

At the state level, Fremont Bank is involved with the California Financing Agency's Affordable Housing Program and Down Payment Assistance Program. Nationally, Fremont Bank is partnering with Federal Home Loan Mortgage Corporation (FHLMC) Community Gold; Federal Home Loan Bank, Workforce Initiative Subsidy for Homeownership; and Federal Home Loan Bank's Individual Development and Empowerment Account.

"These are a few programs we're involved with to help low- and moderate- income families with down payments on homes," says Lorie Pacheco-Dunn, community lending manager, Fremont Bank. "We also provide First Time Homebuyer Seminars at convenient Fremont Bank locations as well as at local businesses, school districts, churches and city programs in cooperation with the host cities."

Community Lending is a specialized Fremont Bank department with dedicated loan agents who reach out to communities by making loans to borrowers who reside in specific geographical census tract areas or who have gross annual incomes not exceeding 80 percent of the median family income.

"This is the 40th anniversary of Fremont Bank and our dedication to serving our communities," said Fremont Bank Vice President Gloria Villasana Fuerniss. "By making mortgage loans to borrowers whose dream is to own a home, our Community Lending Department is in line with our overall philosophy to give back to our communities."

Please contact Lorie Dunn at (510) 670-2550 if you are interested in purchasing a home or for more information about the First Time Homebuyer Seminar in your neighbourhood, or if you are interested in having Fremont Bank's Community Lending Department present a program to your business or clients.

For more information, visit http://www.fremontbank.com/ or call (800) 359-2265. Press Contacts: Kevin Troupe Public Relations, Fremont Bank Phone: 510-505-5257 E-mail: kevin.troupe@fremontbank.com

CONTACT: Kevin Troupe, Public Relations of Fremont Bank, +1-510-505-5257or kevin.troupe@fremontbank.com