Lendistry SBLC, LLC has taken an important step in its quest to close the wealth gap.
On August 7, 2024 the company announced that Lendistry Home Loans has officially been set in motion in Maryland.
Lendistry Home Loans LLC offers conventional purchase and refinance loans with several options for non-traditional borrowers, including streamlined FHA loans and VA Interest Rate Reduction Refinance Loans.
For years, Lendistry has had a solid and expanding presence in the state with more than $100 million deployed to small businesses in the region. With the launch of this new venture, Lendistry endeavors to assist underserved and undercapitalized communities access fair, flexible capital.
The announcement comes at a perfect time for prospective local homeowners looking for residential mortgage loans. According to research cited by Lendistry officials, home prices continue to rise across the state with fewer and fewer homes for sale.
Lendistry CEO Everett Sands is the founder and CEO of Lendistry Home Loans.
“It’s a challenging time in the housing market right now, so I see no better time to offer an alternative to home buyers who need a responsible, equitable lender who understands their communities,” Sands said.
“Together, Lendistry Home Loans and Lendistry will be a holistic capital source for underserved borrowers in the two most impactful pathways to closing the wealth gap: business ownership and home ownership.”
LHL, a financial technology company, has an application process that is fully online. Similar to Lendistry, human professionals are in place to support LHL applicants who need assistance.
“Lendistry Home Loans will offer the kind of technology-enabled, customer-centered experience that small business owners have enjoyed with Lendistry to first-time home buyers and borrowers looking to refinance or invest in property,” said Drew Collins, managing director of Lendistry Home Loans, who brings more than 30 years of experience at LoanDepot and Wells Fargo Home Mortgage.
“Across the board, we are here to help our customers succeed financially.”
Well aware of the “power of home ownership” for present and future generations, LHL has pledged its commitment to making the home loan process accessible, affordable and approachable for all clients.
Also licensed in California, Georgia, Illinois, Pennsylvania, and Texas, LHL draws on Lendistry’s experience in providing meaningful capital to underserved communities. In essence, Lendistry and LLC share the same core mission of providing economic opportunities and financial education.
Sands pointed out that small businesses have benefitted from Lendistry’s approach and the fact that its team comes from the same communities as its clients. The company plans to bring the same approach to potential homeowners in Maryland.
“Maryland plays a special role in the hearts of the Lendistry’s leaders,” Sands said.
“Four of Lendistry’s executives have childhood roots in the state of Maryland. We will never forget what our communities did for us, whether it be our education or professional growth. This is another opportunity for us to give back and pay it forward.”
For two years, Lendistry has had an office in Baltimore and is housed in the same complex as MCB Real Estate, a commercial real estate investment firm. P. David Bramble, the co-founder of MCB Real Estate and son of Baltimore Times publisher Joy Bramble, is chairman of the board of Lendistry.
Kyle Funn, a Baltimore native, Lendistry’s executive vice president and general counsel.
Kyle Funn is another Lendistry executive with local roots. He is the company’s executive vice president and general counsel.
“I have a deep, deep love for my city and all that it brings,” said Funn, a graduate of Baltimore City College who grew up in sections of East and West Baltimore.
“It is a deeply rooted blue-collar town where the folks that live there are hard-working and committed to their communities.”
Funn has extensive background in law as a corporate attorney and in-house operator. He received a bachelor’s degree from Howard University and earned a law degree at Loyola Law School in Los Angeles.
Funn, now based in Los Angeles, lauded the establishment of LHL and emphasized its potential impact for local home buyers.
“Lendistry Home Loans is directionally continuing [Lendistry’s] lineage,” Funn said.
“What our hope is, specifically with respect to Baltimore, is that we can do much of the same in terms of impact that we are doing on the small business side – providing an innovative, technology-enabled mortgage product that is also intended to close the wealth gap.”
The most unique component of Lendistry Home Loans is its deep commitment to its mission, Sands continued. LHL will direct its focus on products, process and policy to help support affordability in home ownership, he said.
Business ownership and homeownership are two foundational components of establishing and building wealth. The two entities are also crucial to a community’s economic sustainability, which Sands took into consideration while establishing LHL.
“It didn’t make sense not to go for it,” Sands said of his decision to start LHL.
“And if you think about a community as an extension of the family, I see small business lending and home mortgage lending as two pillars of that community’s success.
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Publish date : 2024-08-15 17:02:00
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