The company offers home loans to individuals buying homes in low-income areas
Bryn Mawr Bank Corporation (BMBC) has committed $30 million to fund loans to low- and moderate-income households.
Through its Neighborhood Opportunity Program (NOP), the company will provide primary home loans to borrowers buying or improving homes located in low- and moderate-income areas.
“Homeownership and home improvement ensure neighborhood growth and revitalization,” said Frank Leto, president and CEO of BMBC. “We believe homeownership and home improvement funding should be affordable and accessible."
The firm started the pledge in 2016 with a $10 million commitment, which it more than doubled to $25 million in 2019. BMBC financed $34 million to the program last year, exceeding its pledge by 36%.
"With the increased NOP funding, combined with our numerous mortgage and homebuyer educational programs, we can help even more individuals and families achieve the American dream,” Leto said.
