BALTIMORE, Jan. 18, 2012 (GLOBE NEWSWIRE) -- AmeriNational Community Services, Inc. is pleased to announce that it has been selected by the New Jersey Housing and Mortgage Finance Agency (NJHMFA) to provide Loan Underwriting services for the New Jersey HomeKeeper Program.
NJ HomeKeeper is funded through a $300 million federal grant from the United States Treasury's Hardest Hit Fund awarded to States most impacted by unemployment and underemployment. The HomeKeeper Program provides financial assistance to homeowners who are at risk of losing their homes to foreclosure as a direct result of unemployment or underemployment. The assistance may be used to cover arrearages and/or a portion of the homeowner's monthly mortgage payment, including property taxes, property insurance, and mortgage insurance. Homeowners may be eligible for up to $48,000 in assistance for a period of up to 24 months.
The NJHMFA is an independent state agency, whose primary mission is to provide funding for affordable home ownership and housing opportunities for New Jersey residents. The NJHMFA is a strong, unified advocate for housing production, financing and improvement. It accomplishes its mission by responding to the needs of its residents by implementing creative programs and establishing alliances that fund affordable home mortgages for first-time home buyers; promoting construction and rehabilitation of rental housing; encouraging mixed-income, owner-occupied housing growth as a means to stabilize neighborhoods; advancing the growth and development of municipalities; contributing to the quality of life of older adults, the disabled and those with special housing needs; and formulating partnerships to foster the economic development of New Jersey and the personal development of its residents.
"The partnership with AmeriNational will advance HMFA's efforts to provide mortgage assistance to homeowners participating in the HomeKeeper Program," stated Anthony l. Marchetta, Executive Director of NJHMFA. "AmeriNational has a strong background in assisting governmental entities with housing and mortgage service products and we look forward to a productive collaboration."
Tim O'Malley, Sr. VP of Sales and Marketing for AmeriNational shares, "We are pleased to be awarded this business and for the opportunity to work with a well organized, focused and highly talented staff at NJHMFA. Our skilled Underwriters are excited to assist the agency in helping to keep New Jersey citizens in their homes."
About AmeriNational Community Services, Inc.
AmeriNational is a high-touch professional services firm with a strong background providing portfolio management services for housing agencies and municipal clients throughout the country. AmeriNational specializes in servicing loans made by cities, counties and other agencies under government-sponsored affordable housing programs as well as for various non-profit organizations including Habitat for Humanity affiliates across the nation. Other services include loan underwriting and document preparation, loss mitigation, funds disbursement, site inspections, tax credit monitoring and wage compliance monitoring. AmeriNational is a subsidiary of American Bank of St. Paul and has offices in Albert Lea, Minnesota, Baltimore, Los Angeles, and Tampa. For more information on AmeriNational, please visit www.amerinational.net.
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