NexBank Introduces Jumbo Mortgage

DALLAS - NexBank, SSB has introduced a jumbo mortgage product for home loans from $1.5 to $10 million, representing a shift for the bank, which has heretofore not focused on residential loans in this category.

As the decline of the lending industry on the national level has negatively affected the real estate market, attractive options for high-end borrowers in Dallas have been limited, according to Davis Deadman, CEO and president of NexBank.

“For the last few years, rates have spiraled out of control, to the point that making home loans didn’t make good business sense,” said Deadman. “We’ve bided our time, waiting for the opportunity to make competitive loans to the right customers, and are now willing to fill the void recently created by the turmoil in the credit markets, in order to best serve our customers.”

As a professional service, NexBank’s Jumbo Mortgage offers less execution risk for mortgage brokers and the product offers an option for homebuyers looking to finance high-end residential purchases. This product is an extension of the NexBank’s continued commitment to serve the needs of their customers, and is now available at all four Metroplex locations.

About NexBank

NexBank, SSB, is headquartered in Dallas in the NexBank Building, Galleria II Tower. Originally founded in 1922, the bank was purchased in 2004 by a group of Dallas-based investors, who have refocused the bank to become a next-generation leader in financial services. In addition to its headquarters’ location, NexBank also operates banking centers in Downtown Dallas, Frisco and Fort Worth. For more information, visit www.nexbank.com.