The Beverly Faull award program recognizes individuals or organizations for accomplishments and leadership in the affordable housing finance space

ATLANTA, Ga., Feb. 26, 2025 —Down Payment Resource (DPR), the housing industry’s leading technology for connecting homebuyers with homebuyer assistance programs, announced today that it has honored Mosi Gatling of New American Funding (NAF) with the 2024 Beverly Faull Affordable Housing Leadership Award, and Skyler Lemons of Exit Strategy Realty with hits inaugural Emerging Leader Award. Both recipients were recognized for their commitment to advancing homeownership opportunities by leveraging homebuyer assistance programs.

Mosi Gatling: Beverly Faull Award Recipient

Now in its eighth year, the Beverly Faull Affordable Housing Leadership Award recognizes an individual or organization that has exhibited a steadfast commitment to expanding access to affordable homeownership. DPR created the award program in memory of one of its first employees, Beverly Faull, for her wholehearted dedication to the company’s mission to improve access to homebuyer assistance programs. DPR will donate $5,000 to the housing non-profit of Gatling’s choice. 

Currently SVP of Strategic Growth and Expansion at NAF, Gatling has worked for more than 20 years to expand homeownership opportunities, particularly among people of color and first-time homebuyers. Notably, she has been instrumental in launching NAF’s Black Impact initiative to enhance homeownership accessibility in Black communities, which includes a $20 billion organizational commitment to provide new mortgages to Black homebuyers by 2028. She is also one of the top FHA loan originators in the country. Her work as a mortgage banker, along with her public advocacy at national housing forums, highlight her dedication to making homeownership more equitable. 

Skyler Lemons: Emerging Leader Award Recipient

The newly announced Emerging Leader Award recognizes early career individuals who are passionate about helping homebuyers secure safe and affordable housing with the help of homebuyer assistance programs. Skyler Lemons, a real estate agent at EXIT Strategy Realty, is the award’s inaugural recipient. Down Payment Resource will donate $2,500 to the housing non-profit of Lemons’ choice. 

Lemons followed in his mother’s footsteps (agent Marki Lemons-Ryhal), in realizing the importance of helping South Side Chicago residents secure affordable housing. As a youth, he volunteered on affordable housing projects. He became a licensed real estate broker after graduating from Howard University College of Business. Just four years into his career, he’s the top agent in units sold at the largest EXIT Strategy Realty franchise. Having negotiated over $150,000 in down payment assistance and closing costs in 2024 alone, he is called the “Down Payment Grant King” by colleagues. In 2025, Lemons is launching the Center for Empowering Moves, an initiative to strengthen affordable housing pathways for Black Americans.  

“We receive incredible nominations for this award each year, but this year’s recipients stood out in an undeniable way,” said DPR’s Founder and CEO Rob Chrane. “Mosi has dedicated decades to expanding homeownership opportunities and breaking down barriers for first-time and minority homebuyers. Skyler, in just a few short years, has made a profound impact in his community, leveraging down payment assistance to help families achieve homeownership. Their passion and commitment to housing affordability are inspiring, and we are honored to recognize their work in Beverly’s memory.”

About Down Payment Resource:Down Payment Resource (DPR) is the housing industry authority on homebuyer assistance program data and solutions. With a database that tracks more than 2,400 programs and toolsets for mortgage lenders, multiple listing services (MLSs) and API users, DPR helps housing professionals connect homebuyers with the assistance they need. DPR frequently lends its expertise to nonprofits, housing finance agencies, policymakers, government-sponsored enterprises and trade organizations seeking to improve housing affordability. Its technology is used by seven of the top 25 mortgage lenders, the three largest real estate listing websites and 600,000 real estate agents. For more information, visit https://downpaymentresource.com/.

The RISMedia Newsmaker award celebrates individuals who are making a difference through their commitment and contributions to the real estate industry

ATLANTA, Ga., Feb. 4, 2025 — Down Payment Resource (DPR), the housing industry authority on homebuyer assistance program data and solutions, today announced that its Founder and CEO Rob Chrane has been named a RISMedia 2025 Real Estate Newsmaker. RISMedia Newsmakers are individuals whose efforts are positively impacting the consumers and communities they serve. This is the second year in a row Chrane has been named to the Newsmakers list.

Chrane was honored in the Trailblazers category for leading the real estate business forward with innovative new technologies and programs designed to better serve agents and their consumers. By developing technology that helps real estate and mortgage professionals connect homebuyers with down payment assistance (DPA) programs, he has positively impacted the lives of countless individuals and families.

Chrane founded DPR in 2008 to help homebuyers clear the largest hurdle to owning a home: saving for the down payment and closing costs. DPR has built the nation’s only comprehensive database of more than 2,400 homebuyer assistance programs and technology that enables real estate professionals to search for eligible assistance for homebuyers. DPR is licensed to Multiple Listing Services, Realtor Associations, mortgage lenders and housing counselors across the country.

“Between high mortgage rates and rising home prices, many homeowners are feeling squeezed out of the market, especially when it comes to finding an affordable home,” said Chrane. “Our technology connects these potential homebuyers with lenders and programs so they can get their foot in the door and start to build wealth through homeownership. It’s very fulfilling to hear success stories of the many buyers able to use down payment assistance to achieve their American Dream.”

“This year’s Newsmakers shine a spotlight on the innumerable ways this industry bravely confronted the sea of change brought about by the historic commission lawsuits, and went to work helping their companies, agents and homebuyers and sellers understand and adapt to the fundamental shift in the way real estate business is conducted,” John Featherston, founder, CEO and publisher of RISMedia. “Our 2025 Real Estate Newsmakers demonstrate the grit, tenacity and resilience that dedicated real estate professionals have long been known for.”

To learn more about RIS Media’s 2025 Newsmakers, visit https://www.rismedia.com/2025-newsmakers/.

About Down Payment Resource:Down Payment Resource (DPR) is the housing industry authority on homebuyer assistance program data and solutions. With a database that tracks more than 2,400 programs and toolsets for mortgage lenders, multiple listing services (MLSs) and API users, DPR helps housing professionals connect homebuyers with the assistance they need. DPR frequently lends its expertise to nonprofits, housing finance agencies, policymakers, government-sponsored enterprises and trade organizations seeking to improve housing affordability. Its technology is used by seven of the top 25 mortgage lenders, the three largest real estate listing websites and 600,000 real estate agents. For more information, visit https://downpaymentresource.com/.

The HW Tech100 list puts a spotlight on the most innovative and impactful technology organizations serving the mortgage industry

ATLANTA, Ga., Feb. 4, 2025 — Down Payment Resource (DPR), the housing industry’s leading technology for connecting homebuyers with homebuyer assistance programs, has been named to HousingWire’s 2025 Mortgage Tech100 list, which recognizes “the companies and solutions that are revolutionizing the mortgage process — from origination to closing, and servicing to secondary markets.” 

DPR first appeared on the HW Tech100 list in 2017. Since then, the company has expanded its lender tools to help operationalize down payment assistance (DPA) programs from lead generation to post-close.

DPR’s lender suite includes DPA Directory, a searchable database that allows product managers to identify and select DPA programs that align with market needs. Its Loan Officer Portal automatically matches borrowers with company-approved DPA programs, while the Underwriter Portal gives underwriters access to program guidelines, overlays and company approvals. Finally, the company’s Consumer Portal creates personalized landing pages where prospective homebuyers can explore their DPA eligibility, turning inquiries into qualified leads while educating customers about their options.

Additionally, DPR integrates with the Encompass LOS from ICE Mortgage Technology, enabling lending teams to access DPA program details directly within the loan production system. Together, these solutions empower lending teams to maximize DPA utilization, drive customer engagement and expand homeownership opportunities.

“At DPR, we are committed to helping lenders, real estate agents and other housing professionals grow their businesses while supporting their communities with sustainable home financing opportunities,” said DPR Founder and CEO Rob Chrane. “We appreciate the recognition from HousingWire’s editors and the opportunity to spread the word about how DPA can help mortgage lenders do well by doing good.”

About Down Payment Resource:Down Payment Resource (DPR) is the housing industry authority on homebuyer assistance program data and solutions. With a database that tracks more than 2,400 programs and toolsets for mortgage lenders, multiple listing services (MLSs) and API users, DPR helps housing professionals connect homebuyers with the assistance they need. DPR frequently lends its expertise to nonprofits, housing finance agencies, policymakers, government-sponsored enterprises and trade organizations seeking to improve housing affordability. Its technology is used by seven of the top 25 mortgage lenders, the three largest real estate listing websites and 600,000 real estate agents. For more information, visit https://downpaymentresource.com/.

From where we sit, 2024 was a banner year for down payment assistance (DPA). It’s when DPA became “cool” for homeowners to ask about and lenders to offer, with more programs from more agencies helping more individuals and families become homeowners. 

Down Payment Resource has been in the thick of this evolution, pushing the envelope with product innovations and strategic partnerships. We’re not just tooting our own horn. The National Council of State Housing Agencies notes that from 2021 to 2023 housing finance agencies increased their total volume of DPA by 43% (to $1.5 billion) and their average amount of assistance by 48% (to $12,000). Add to that, the recent FHA Annual Report to Congress notes 16.9% of FHA purchases in FY 2024 used DPA, up from 15% last year. 

A Banner Year for Accolades

2024 kicked off with Founder and CEO Rob Chrane named a 2024 Real Estate Newsmaker; Executive Vice President of Product and Operations Sean Moss named an Industry Titan; and Vice President, Housing Finance Agency (HFA) Relations, Veronica Khandelwal, named a 2024 Women of Inspiration.

We made news in other ways, too. Our Q3 2024 Homeownership Program Index (HPI) report found the number of national homebuyer assistance programs increased by 29 to 2,444 — now officially the largest collection ever, anywhere. 

Also, we awarded Sylvia Alvarez, founder and executive director of Housing and Education Alliance (HEA), with our Beverly Faull Affordable Housing Leadership Award, created in memory of one of our first employees.

Social Climbing

Down Payment Resource has always given back, and 2024 was no different. 

In January, Chrane spoke at the National Council of State Housing Agencies (NCSHA) on a panel moderated by Wendi Redfern, senior vice president, single-family programs at the District of Columbia Housing Finance Agency. In his remarks, Chrane discussed a study conducted in partnership with the Urban Institute that found that almost half (43.6%) of originated purchase mortgages were eligible for DPA but did not use it.

In January, we also sent our team to New Orleans for MBA’s IMB Conference to network with clients and prospects. In February, team members traveled to Houston for TMBA’s Southern Secondary conference where DPA was a frequent topic of discussion.

The mid-March ICE Experience 2024 was perfectly timed for DPR to debut its new integration with Encompass by ICE Mortgage Technology, the most used mortgage loan origination system (LOS). We all traveled to Las Vegas to take part in this annual user conference and our booth was buzzing with lenders eager for a peek. The integration allows users of the Encompass LOS to view available DPA programs for specific borrowers based on their location, occupation, income and other factors. As additional information is entered into Encompass about the borrower, the DPA information dynamically refreshes. 

In another first, we joined The Mortgage Collaborative (TMC), the nation’s largest independent cooperative network serving the mortgage industry, as a preferred partner and attended TMC’s The Mane Event in Denver. 

New Faces

Growth in program numbers and customers throughout the year meant expanding our executive team. 

We hired 20-year mortgage industry veteran Brad Cardwell as our vice president of sales and business development to lead enterprise sales, growing both its sales team and partner network, with the goal of making more housing professionals and consumers aware of the availability and benefits of DPA for a range of homebuying expenses and property types. 

You may know Brad from his 19-year tenure at Embrace Home Loans, where he most recently was vice president of innovation for revenue and sales enablement. He also previously served on the executive advisory board of nCino (formerly SimpleNexus, an nCino Company), providing feedback for the product and roadmap.

And Celebrations

Down Payment Resource doesn’t just collect programs like a museum curator. We update program information every month. This attention to detail means the 2,400+ programs in our database are accurate.

We also sift through program data to bring attention to specific causes. In recognition of Disability Pride Month we highlighted 18 U.S. DPA programs specifically designed to support people with disabilities and their family caregivers on their journey toward homeownership. In October, we highlighted 48 U.S. homebuyer assistance programs designed to support Native Americans. In November, we highlighted 49 programs to support Veterans, service members and their surviving spouses. 

Join Us for a Prosperous New Year

While we’ve come a long way in making homebuyers and real estate professionals more aware of DPA, there’s still work ahead. As we previously noted, 16.9% of FHA purchases in FY 2024 used DPA, but HUD data shows us that 79.8% of FHA loan applicants likely could have qualified with DPA. That gap between the number of eligible loans (79.8%) and those that used DPA (16.9%) is about 63%, and represents a significant portion of LMI and minority applicants who may have qualified for an FHA loan with additional funds. (On average, DPA lowers a homebuyer’s LTV by 6%.)

In 2025, we hope to work with our partners to narrow that gap, not only for FHA loans but across the board. We think every borrower has the right to know about DPA that could be used to boost their down payment, pay closing costs or pay down points. 

We think that’s all pretty cool.

If you need more information about how to operationalize DPA in your business, contact us for a demonstration.

It’s true: Down Payment Resource (DPR) is growing again to support the overwhelming demand for homebuyer assistance programs — now topping 2,400 — and the increasing popularity of our software tools for lenders, agents and listing sites. 

Our new team members join our hard working crew in playing a vital role in spreading the word about DPA, expanding our sales force and footprint and providing support to our ever-growing customer base. Thanks to their expertise, DPR is better equipped to champion innovative tools, partner with industry leaders like ICE Mortgage Technology to integrate with its Encompass® LOS platform, and develop strategies and programs that are making homeownership more affordable and accessible for all.

So, without further ado, here are the newest members of our DPR family:

Brad Cardwell – Vice President of Sales and Business Development

You’re sure to see Brad out and about representing DPR this fall at trade events and client meetings. As vice president of sales and business development (a new position for DPR!), the 20-year mortgage industry veteran leads enterprise sales efforts and expansion of our partner network with the goal of making more housing professionals and consumers aware of the availability and benefits of DPA for a range of homebuying expenses and property types. (Did you know more than 850 DPA programs can be used to purchase a manufactured home?)

Brad’s mortgage career started at Embrace Home Loans where he worked as a loan officer and team leader. He worked at Embrace for 19 years, most recently as its vice president of innovation for revenue and sales enablement, where he led cross-functional teams in implementing technology and processes to help Embrace enhance its customer service and close loans faster. He also previously served on the executive advisory board of nCino (formerly SimpleNexus, an nCino Company), a technology company whose software is used by banks and credit unions.

That’s a pretty solid mortgage-tech industry resume, so we asked Brad to share a few personal tidbits to help us all get to know him a little better:

What’s a personal accomplishment you’re particularly proud of?

I’m particularly proud of a thriving marriage for almost 30 years and raising our three amazing children.

If you could travel anywhere, where would you go and why? Or, what is the best place you’ve visited and why?

Our go-to spot has been Aruba for the last 26 years! However, the best place we’ve visited is St. John and the British Virgin Islands, thanks to the stunning views, incredible snorkeling, and the unforgettable memories we’ve made there.

What do you enjoy most about your job?

I love connecting consumers with lenders and realtors to help them discover the down payment assistance they need to achieve their homeownership dreams. Additionally, I enjoy building relationships with mortgage and real estate professionals.

Veronica Chapa, Sales Engineer

As sales engineer — also a new role at DPR — Veronica will accelerate our go-to-market strategy, onboarding new customers and expanding our market footprint. Veronica will be responsible for working with our marketing communications, sales and customer success teams to support the sales process from start to close/won. This will include meeting with potential customers to conduct thoughtful product demonstrations and educate them on how to successfully introduce greater efficiency and success using homebuyer assistance programs as a key business strategy.

She’ll be the point person setting up free product trials and soliciting client feedback and will partner with DPR’s sales leadership as we plan growth strategies. (So be sure to share with her how you’re doing with DPR’s tools and how we can do better!)

Veronica brings an extensive mortgage industry background, having served in various roles at mortgage lenders and mortgage technology companies, including Optimal Blue and Ellie Mae (now ICE Mortgage Technology), and we’re happy to have her. 

Here are some tidbits you won’t find on her resume:

What are your hobbies? 

I volunteer at the food bank in Cypress (TX) and help organize food and clothing for our local residents in need. I am also a mom of three boys, and I have five grandbabies. I spend four months out of the year watching college football. Go Buckeyes!

What do you enjoy most about your job?

I enjoy helping people understand down payment assistance, knowing they may have misconceptions about how it works and who can qualify. It’s wonderful to know we can help people in all walks of life, and in every U.S. county. The average consumer is just unaware of how much DPA can help them, and I hope that we can bridge that awareness gap so more people can become homeowners.

What’s your favorite way to spend a day off work? 

I love the weather here in Texas and we have a ton of trails in Cypress and nature preserves. I am always up for a walk in the woods around the creek. Other than that, just watching football or maybe having no plans at all is super exciting!

Lorrie Johnson, Customer Success Specialist

As a customer success specialist, Lorrie works closely with Veronica to ensure prospective customers are wowed from the moment they make contact with us through becoming DPA champions. Her role is to demystify the DPA process, ease their fears and debunk myths (like you can’t make money if you use DPA). She then sets them up for a free trial and finally, onboards them. She’ll stay in contact as customers grow. 

Lorrie has an extensive professional background in real estate, customer service and sales, and easily builds rapport with our lender and real estate/MLS customers, having walked in their shoes. (She is still an active real estate agent!) She also monitors support inquiries and resolves or escalates them as needed and assists with customer usage monitoring to help identify integration or adoption issues we may need to investigate. 

Here’s a few details she let us in on to help you get to know her better:

What’s your favorite way to spend a day off work? 

Realistically, I’m most likely to be cleaning and running errands on my day off, but when I find the time my favorite way to spend my day off is probably curled up on the couch watching a movie or exploring a new hiking trail, packing a picnic and just finding the beauty in nature that is all around us.

What’s a personal accomplishment you’re particularly proud of?

My children are my greatest accomplishment by far, and they make me very proud.  

I also feel an immense amount of pride when I help others achieve the American Dream through homeownership. When they put their trust in me to help guide and educate them, it is very humbling. I was once in their shoes, too. If someone had not come in and showed me the ropes, I would have never bought my first home. It’s such an honor and a privilege, really, to help educate buyers, lenders and real estate agents about what options they weren’t even aware of. So many people don’t even know about the assistance they can get (like FREE MONEY) or how little of a down payment they actually need to get into a home. 

What are your hobbies? 

I love visiting the National Parks and hope to visit them all one day. Yellowstone National Park is one of my absolute favorites. I enjoy the outdoors hiking or just working in my garden. I also enjoy arts and crafts. I’ll paint a rock, a pallet, or piece of furniture. I’m a fan of country music and right now am headed to the Morgan Wallen/Jelly Roll concert!

Lisa Rhodes, DPA Program Specialist

As a DPA program specialist, Lisa is one of our busy bees in contact with our network of program providers to ensure we always have current details on more than 2,400 DPA programs nationwide (have we mentioned our database is the most extensive and accurate anywhere?)

In this role, Lisa works to expand our DPA program provider contacts and ensure consistent communication. Much of her time is spent researching DPA programs online to gather as much intel as possible about program guidelines, requirements and funding status. She collects, interprets and inputs program data into our unique DPA database and builds collaborative relationships with DPA program providers to raise awareness and usage of their programs among lenders, real estate agents and consumers. She also monitors DPA programs for changes and ensures the accuracy of program details over time. 

Before joining DPR, Lisa served in various professional positions in the financial industry, including being an HFA program administrator for 17 years at U.S. Bank.

But here’s the really fun stuff to know about her:

If you could travel anywhere, where would you go and why? Or, what is the best place you’ve visited and why? 

I would love to travel the entire world. I think one of the most vital human experiences is getting to submerge yourself in other cultures and ways of life. It really opens up your entire life. If I had to pick my top three destinations they would have to be the UK, Turkey and Egypt. 

What are your hobbies? 

I love to read. My office has six bookshelves filled to the brim, and my collection has spilled out throughout my home. I also love walks with my three dogs (Abby Rhodes, Penny Lane and Charli Brown). Spending time with family and friends is a favorite pastime, regardless of what we are doing together. 

What’s your favorite way to spend a day off work? 

Sleeping in, shopping with my sister, having pool days with my friends, reading on my porch. Any day I get to choose to do nothing (or anything) is a great day.

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Down Payment Resource builds tools that help mortgage lenders, real estate agents, multiple listing services and consumer listing sites build relationships with homebuyers by connecting them with the homebuyer assistance they need.

To learn how Down Payment Resource can help you support homebuyers, contact us.

Cardwell brings extensive industry experience in steering dynamic product strategies for driving revenue growth and enhancing sales effectiveness to his new role 

ATLANTA, Ga., July 31, 2024 — Down Payment Resource (DPR), the housing industry’s leading technology for connecting homebuyers with homebuyer assistance programs, today announced 20-year mortgage industry veteran Brad Cardwell has joined DPR as its vice president of sales and business development. 

In his new role, Cardwell will lead DPR’s enterprise sales, growing both its sales team and partner network, with the goal of making more housing professionals and consumers aware of the availability and benefits of DPA for a range of homebuying expenses and property types.

“We are very excited to have someone of Brad’s stature and experience join DPR to extend our sales efforts at a very critical time for our company,” said DPR Founder and CEO Rob Chrane. “In the midst of an ongoing affordability crisis, we’re seeing more program providers and more down payment assistance options than ever and it’s our mission to get DPA into the hands of more homebuyers through their lender or real estate professional. There’s never been a time when DPA is more important and we’re looking to Brad to help us spread the word.”

Cardwell started his mortgage career as a loan officer and team leader at Embrace Home Loans, where he worked for 19 years, most recently as vice president of innovation for revenue and sales enablement. In this position, he launched the Sales Enablement Product Owner role, providing oversight of sales and marketing operations, including crafting go-to-market strategies and managing its technology stack to elevate organizational productivity. As the bridge between the executive team and sales, he led improvements in systems and processes, mitigating risks for loan officers and attaining a 3.5-day reduction in Embrace’s lead-to-close timeline. 

He also previously served on the executive advisory board of nCino (formerly SimpleNexus, an nCino Company), providing feedback for the product and roadmap.

“I’m especially grateful for this opportunity to contribute to a company that is truly making a difference,” Cardwell said. “DPR is at the forefront of helping homebuyers access down payment assistance programs making homeownership more attainable for many. I’m inspired by their mission and can’t wait to dive in and collaborate with such an innovative and dedicated team.” 

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Down Payment Resource builds tools that help mortgage lenders, real estate agents, multiple listing services and consumer listing sites build relationships with homebuyers by connecting them with the homebuyer assistance they need.

To learn how Down Payment Resource can help you support homebuyers, contact us.

ATLANTA, Ga., July 1, 2024 — Down Payment Resource (DPR), the housing industry’s leading technology for connecting homebuyers with homebuyer assistance programs, today announced the addition of three new team members to support growing demand for down payment assistance (DPA) programs. 

“We’ve been in this business since 2008 and have never seen more interest in — and frankly more need for — DPA from both homebuyers and lenders. In response, DPA administrators are growing the number of DPA programs available and expanding the inventory box with programs that support funding for purchases of manufactured homes and multi-family properties,” said DPR Founder and CEO Rob Chrane. “Accordingly, demand for DPR’s lender suite, which supports DPA origination from lead generation to processing and underwriting to secondary sales, has grown. Combined with our recent integration with the ICE Encompass® loan origination system, DPR has a very bright future, and we’re happy our team is growing to meet market needs.”

DPR’s three hires are:

Veronica Chapa, sales engineer 

As sales engineer, Veronica Chapa will accelerate customer acquisition, revenue growth and market penetration at Down Payment Resource. Chapa has an extensive mortgage industry background, having served in various roles at mortgage lenders and mortgage technology companies, including Optimal Blue and Ellie Mae (now ICE Mortgage Technology). 

Lorrie Johnson, customer success specialist

As a customer success specialist, Lorrie Johnson works on the frontlines with our lender and real estate clients to coordinate customer success initiatives including onboarding, adoption and retention efforts. Johnson has an extensive background in real estate, customer service and sales.

Lisa Rhodes, DPA program specialist

As a program specialist, Lisa Rhodes will support collecting, monitoring and managing detailed eligibility data and program requirements for more than 2,300 DPA programs from 1,200 providers. By maintaining regular contact with program providers, Rhodes will ensure the integrity of DPR’s DPA Directory, the only tool to track every DPA program in the U.S. Before joining DPR, Rhodes served in various positions, including as HFA program administrator, for 17 years at U.S. Bank.

About Down Payment Resource:

Down Payment Resource (DPR) is the housing industry authority on homebuyer assistance program data and solutions. With a database that tracks more than 2,200 programs and toolsets for mortgage lenders, multiple listing services (MLSs) and API users, DPR helps housing professionals connect homebuyers with the assistance they need. DPR frequently lends its expertise to nonprofits, housing finance agencies, policymakers, government-sponsored enterprises and trade organizations seeking to improve housing affordability. Its technology is used by five of the top 10 retail mortgage lenders and MLSs, three of the four largest real estate listing websites and 600,000 real estate agents. For more information, visit https://downpaymentresource.com/.

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Down Payment Resource has crafted tools to help mortgage lenders, real estate agents and multiple listing services build relationships with homebuyers by connecting them with the homebuyer assistance they desire.

To explore the best option for your business, contact us.

Eligible Heartland MLS listings qualify for an average of $15,000 in homebuyer assistance

ATLANTA, Ga., April 9, 2024 — Down Payment Resource (DPR), the housing industry’s leading technology for connecting homebuyers with homebuyer assistance programs, today announced that Heartland Multiple Listing Service (MLS) has implemented its tools to notify real estate agents when homebuyers may be eligible for down payment assistance. According to a DPR analysis, 87% of Heartland MLS’s listings are eligible for one or more homebuyer assistance programs.

Founded in 1993, Heartland MLS serves more than 12,000 real estate agents in the Greater Kansas City area. The MLS’s partnership with DPR flags listings eligible for down payment assistance (DPA) so agents can help make homeownership more accessible in their communities. DPR reports that 27 agencies support 39 homebuyer assistance programs in the Heartland MLS footprint. Assistance amounts range from $3,000 to $37,000 and can be used by homebuyers who earn as much as $143,000 per year toward homes priced up to $766,550, though income and price limits are even higher in certain targeted areas. On average, homes in the Heartland MLS’s service region are eligible for roughly $15,000 in assistance.

“Kansas City is seeing a 4% increase in home prices over this time last year, and salaries are just not keeping pace. It’s imperative for real estate agents to inform homebuyers about DPA opportunities so more people can qualify for a mortgage and begin building generational wealth through homeownership,” said Rob Chrane, founder and CEO of DPR. “We are proud to share our comprehensive database of homebuyer assistance programs — including down payment assistance, grants, affordable first mortgages and more — to help Heartland MLS subscribers better serve their communities, and especially low-to-moderate income (LMI) and minority buyers, with the financial resources that help make homeownership achievable.”

“Our MLS subscribers have been long-term champions of the Kansas City community and dedicated to helping homebuyers gain access to safe and sustainable homeownership,” said Rob Wagoner, senior vice president, MLS director at Kansas City Regional Association of REALTORS® and Heartland MLS. “Our partnership with DPR will help our subscribers better serve homebuyers by shedding light on homebuyer assistance available in our region. Heartland MLS looks forward to further supporting homeownership in our region with DPR’s support and user-friendly digital tools.”

For more than seven years, Kansas City Regional Association of REALTORS®, which owns Heartland MLS, has given agent members access to a widget that empowers consumers to search for their homebuyer assistance eligibility.

About Heartland MLS:

Since its inception in 1993, Heartland MLS has been the trusted source for the most complete and accurate real estate information across the Kansas City region. Heartland MLS currently provides services to more than 12,000 subscribers and participants across 39 counties in Kansas and Missouri. Heartland MLS provides real estate professionals with reliable, cost-effective access to a suite of state-of-the-art MLS technology services and products to serve their business needs in today’s fast-paced industry. Heartland MLS helped facilitate over 37,000 real estate transactions valued at nearly $12.6 billion in 2023. Heartland MLS is owned and operated by the Kansas City Regional Association of REALTORS®. For more information, visit the Heartland MLS website. 

About Down Payment Resource:Down Payment Resource (DPR) is the housing industry authority on homebuyer assistance program data and solutions. With a database that tracks more than 2,200 programs and toolsets for mortgage lenders, multiple listing services (MLSs) and API users, DPR helps housing professionals connect homebuyers with the assistance they need. DPR frequently lends its expertise to nonprofits, housing finance agencies, policymakers, government-sponsored enterprises and trade organizations seeking to improve housing affordability. Its technology is used by five of the top 10 retail mortgage lenders and MLSs, three of the four largest real estate listing websites and 600,000 real estate agents. For more information, visit https://downpaymentresource.com/.

Starting in 2008, we’ve been collecting down payment assistance (DPA) program information and verifying the accuracy of our database every month. Today, we track 2,200+ programs and offer toolsets to help lenders and multiple listing services make this data available for loan officers and agents, as well as homebuyers and business partners. In addition to seeing more providers and more programs launched over the past 15+ years, we’ve seen expansion in the ways in which DPA funds can be used, not just for down payments but to pay down points, buy manufactured housing or invest in a 2-4 unit multifamily property, for example.

We think the DPA drumbeat is growing louder and want to share with our blog readers what we’re hearing at Q1 industry events.

National Council of State Housing Agencies (NCSHA)

In January, our Founder and CEO Rob Chrane had the opportunity to speak at NCSHA on a panel moderated by Wendi Redfern, senior vice president, single-family programs at the District of Columbia Housing Finance Agency. In his remarks, Chrane discussed a DPR study conducted in partnership with the Urban Institute that examines the impact DPA could have had on buyers. The study found that almost half (43.6%) of originated purchase mortgages were eligible for DPA. Looking at loan types, the study found that 79.9% of FHA loans likely could have qualified for DPA. Yet, according to HUD data, only about 15% of borrowers with FHA mortgages used down payment assistance from a government source. That gap — between the number of eligible loans (79.8%) and those that used DPA (15%) — is 64.8%, and represents a significant portion of LMI and minority applicants, Chrane pointed out.

After the session, Chrane spoke to Julia Gordon, assistant secretary for housing and federal housing commissioner at HUD, about the DPA gap that DPR’s joint study with the Urban Institute uncovered. She acknowledged that she is aware of our work and has been speaking to others about us. We are very excited to see DPA getting attention from industry leaders like Julia.

MBA Independent Mortgage Bankers (IMB) Conference

Later in January, DPR’s enterprise sales executive, Tani Lawrence, traveled to New Orleans for MBA’s IMB Conference, where she networked with clients and prospects. 

“Along with jazz and every oyster preparation you can imagine, there was a lot of buzz around DPA and the opportunity for IMBs of all sizes and business models to incorporate it into their workflow to qualify more borrowers,” she reports.

Texas MBA (TMBA) Southern Secondary

In February, Lawrence and Sean Moss, DPR’s executive vice president of product and operations, traveled to Houston for TMBA’s Southern Secondary conference. DPA was a frequent topic of discussion, Moss reports, including a question during a session to Alanna McCargo, president of Ginnie Mae, regarding the speed to securitize first mortgages that use DPA. “She noted that the quality of mortgages was ‘strong,’ so using DPA was not a factor,” says Moss. 

Jeff Casella, managing director of Optimal Blue, who is also a 20+ year industry veteran having held various mortgage capital markets positions at Optimal Blue, Fannie Mae and PHH Mortgage, chimed in during the next session saying DPAs have a “longer prepay period and look good on books.”

ICE Experience

The mid-March ICE Experience 2024 was perfectly timed for DPR to debut its new integration with Encompass by ICE Mortgage Technology, an industry-leading loan origination system. Chrane, Moss and Lawrence all traveled to Las Vegas to take part in this annual user conference and our booth was buzzing with lenders eager for a peek. The integration allows users of the Encompass LOS to view available DPA programs for specific borrowers based on their location, occupation, income and other factors. As additional information is entered into Encompass about the borrower, the DPA information dynamically refreshes. 

“Feedback on the integration was overwhelmingly positive and there’s a trending belief that this will be a game-changer for lenders who either do a lot of DPA already and/or have been apprehensive about doing so but need a little help,” Moss says. The integration tied in nicely with two central conference themes, automating the loan production lifecycle and combatting affordability challenges, he notes.

The Mortgage Collaborative (TMC) The Mane Event

Chrane and Lawrence wrapped up this busy quarter at TMC’s The Mane Event, Mar. 18-20 in Louisville. DPR hosted a Kentucky Derby-themed reception, participated on a panel and presented a case study with Mountain West Financial.

All in all, it’s been an amazing quarter of spreading DPR insights and meeting with lenders to see how DPR can fill the “missing gaps” in their business. Let’s keep it going!

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Down Payment Resource has crafted tools to help mortgage lenders, real estate agents and multiple listing services build relationships with homebuyers by connecting them with the homebuyer assistance they desire.

To explore the best option for your business, contact us.

The annual awards program recognizes women leaders in mortgage lending

ATLANTA, Ga., March 6, 2024 — Down Payment Resource (DPR), the housing industry’s leading technology for connecting home buyers with homebuyer assistance programs, today announced that Vice President, Housing Finance Authority (HFA) Relations, Veronica Khandelwal, has been named to the 2024 Women of Inspiration list by National Mortgage Professional, an American Business Media publication.

Khandelwal combines her passion for affordable lending with broad mortgage product development experience to help lenders connect consumers with homebuyer assistance programs nationwide. She was brought on by DPR to manage its HFA relationships, and she has since been promoted twice for her exemplary leadership. More recently, Khandelwal has helped hire, train and manage DPA and HFA experts dedicated to taking the industry-first homebuyer assistance platform to the next level, nearly doubling the size of the team. 

Prior to Down Payment Resource, Khandelwal worked in mortgage product development at Fifth Third Bank, where she was the go-to subject matter expert for all affordable lending programs.

“We are extremely proud of Veronica and agree wholeheartedly that she’s an exemplary woman of influence on many fronts,” said Rob Chrane, CEO of Down Payment Resource. “Her passion for helping historically underserved homebuyers is only matched by her passion for helping lenders uplift buyers by training them on programs designed to help consumers afford the upfront costs of a mortgage loan — one of the most significant financial barriers to homeownership.”

“Being recognized on the Women of Inspiration list is a profound honor and a testament to the collective effort of our team at Down Payment Resource,” said Khandelwal. “This accolade not only highlights my personal commitment to making homeownership more accessible but also shines a light on the importance of affordable lending programs in empowering consumers and transforming lives. I am deeply grateful for the opportunity to contribute to this mission and to be part of a movement that champions inclusion and equality in the mortgage industry. Together, we are breaking down barriers to homeownership and paving the way for a more inclusive and equitable future.”

About Down Payment Resource:Down Payment Resource (DPR) is the housing industry authority on homebuyer assistance program data and solutions. With a database that tracks more than 2,200 programs and toolsets for mortgage lenders, multiple listing services and API users, DPR helps housing professionals connect homebuyers with the assistance they need. DPR frequently lends its expertise to nonprofits, housing finance agencies, policymakers, government-sponsored enterprises and trade organizations seeking to improve housing affordability. Its technology is used by five of the top 10 retail mortgage lenders by volume, three of the four largest real estate listing websites and 600,000 real estate agents. For more information, visit https://downpaymentresource.com/.

Owning a home has been shown to be one of the most effective ways Americans can build generational wealth. 

Although equal access to housing is a civil right, systemic racism within housing finance institutions has kept communities of color from accessing equal housing opportunities. In fact, the gap between Black families who own a home and white families has persisted over the years and is widening. In 1976, 69% of white families owned a home, while 44% of Black families owned a home, a gap of 25%. In 2022, 75% of white families owned homes, while 45% of Black families owned a home, a gap of more than 30%.

LendingTree recently analyzed U.S. Census Bureau data to analyze racial homeownership demographics in the nation’s 50 largest metropolitan areas. The study found while Black people made up an average of 15% of the population across the metros, only 10% of homes were owned by Black homeowners. For comparison, white people across the same metros accounted for an average of 58% of the population, yet owned an average of 69% of owner-occupied houses. 

Challenges to Black Homeownership

Many factors contribute to this disparity and make the racial ownership gap difficult to close. 

First, the average income for Black households is lower than for white households. According to Census Bureau numbers, the median income for Black households in 2023 was $52,860. That’s more than $28,000 less than the $81,060 median income for white households.

Plus, less of that income is considered to be disposable. According to the National Association of Realtors, Black homeowners spend more of their income to own their homes than all racial groups, with 30% being cost-burdened, meaning they spend more than 30% of their income on housing. If they’re paying rent, that money is going into their landlords’ pocket rather than if they were paying a mortgage and building equity through homeownership. Black Americans also are more likely to be unbanked.

These factors make it difficult for Black and other minority homebuyers to qualify for a mortgage. In 2022, Black and Hispanic applicants experienced denial rates of 16.4% and 11.1% respectively, while the denial rate for white applicants was 5.8%. 

Overcoming Barriers 

The good news is there are many loan programs that can help increase Black homeownership. 

For starters, there are lending programs for low-income homebuyers with low down payment requirements, such as FHA mortgages, which typically require 3.5% down, and VA and USDA mortgages, which can require as little as zero down. 

Homebuyers should always “shop around” for a mortgage to find the best terms. A Fannie Mae study found one-third of recent homebuyers get a single mortgage quote in spite of having online resources for finding multiple lenders and comparing quotes. By comparing offers from different lenders, homebuyers can select the offer with the best rate and fees, making their purchase more affordable.

Finally, homebuyers should learn about down payment assistance (DPA) programs in your area and be sure to apply for DPA early in the buying process (your real estate agent or lender can help or search our online database). This is especially important for low-income and minority buyers. A 2023 poll by Keybank of 1,000 homeowners who earned less than $75,000 annually found nearly one-third (31%) did not seek out any information or resources on homebuyer assistance programs. 

The Impact of Down Payment Assistance

Having more money for the down payment or other mortgage costs could make a huge difference. Down Payment Resource partnered with Urban Institute to look at loan activity in the nation’s top 10 metros. The study found that DPA could have potentially salvaged the loans of about 46,000 denied applicants (30.7%) since it would have lowered the loan amount for a more favorable debt-to-income ratio (DTI) or provided cash to meet the necessary cash-to-close (CTC) requirement. 

Down Payment Resource recently reexamined the study data to look at homebuyer assistance program eligibility by race. We found that 54.7% of Black homeowners could have been eligible for homebuyer assistance. Breaking this down by loan type, 79.8% of Black homebuyers financing with FHA loans would have been eligible for DPA. Notably, the number of homebuyers eligible for DPA is substantially higher than those who used a form of DPA to finance their homes. This gap in DPA use affects a significant number of Black homebuyers who could have saved tens of thousands of dollars on buying a home, and Black mortgage applicants who could have been approved with DPA.

Focusing on the Future

This Black History Month, let’s honor the legacy of resilience and strength within the Black community by championing a path to homeownership for more Black families. 

After all, homeownership isn’t just about owning property; it’s about securing a foundation for generational wealth, stability and pride. Let’s also recognize the importance of economic empowerment. By owning homes, Black families can break barriers, build equity and shape their own future.

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Down Payment Resource has crafted tools to help mortgage lenders, real estate agents and multiple listing services build relationships with homebuyers by connecting them with the homebuyer assistance they desire.

To explore the best option for your business, contact us.

Chrane was recognized in the Crusader category for his relentless commitment to championing down payment assistance programs 

ATLANTA, Ga., Feb. 6, 2024 — Down Payment Resource (DPR), the housing industry’s leading technology for connecting home buyers with homebuyer assistance programs, today announced that its Founder and CEO Rob Chrane has been named a RISMedia 2024 Real Estate Newsmaker. Newsmakers are recognized for their contributions to the real estate industry and their efforts to positively impact the consumers and communities they serve.

Chrane was honored in the Crusader category for his relentless commitment to “championing a better way.” By developing technology that helps housing professionals connect homebuyers with homebuyer assistance programs, he has profoundly impacted the lives of countless individuals and families striving to achieve homeownership.

Chrane is a 30-year veteran of the housing industry. In 2008, he founded DPR to help people clear the largest hurdle to their homeownership dreams: down payment and closing costs. With his team, Chrane has built the only comprehensive database of homebuyer assistance programs in the nation. To date, DPR has connected more than 6 million unique users with homebuyer assistance program information.

“Sustainable homeownership feels out of reach for many, especially those in underserved communities,” said Chrane. “Connecting potential homebuyers with lenders and programs that can help them build wealth and stability is one of the most fulfilling goals I have chased, and I look forward to continuing to support equitable homeownership across the country.”

“From the creativity and innovation being implemented through the shifting and challenging 2023 market, to industry records being broken, to the wonderful charitable work being done across the nation, we continue to be amazed by the ingenuity and success of these real estate professionals,” said John Featherston, founder, CEO and publisher of RISMedia.

To learn more about RIS Media’s 2024 Newsmakers, visit https://www.rismedia.com/newsmaker/rob-chrane-2024/ 

About Down Payment Resource:

Down Payment Resource (DPR) is the housing industry authority on homebuyer assistance program data and solutions. With a database that tracks more than 2,200 programs and toolsets for mortgage lenders, multiple listing services and API users, DPR helps housing professionals connect homebuyers with the assistance they need. DPR frequently lends its expertise to nonprofits, housing finance agencies, policymakers, government-sponsored enterprises and trade organizations seeking to improve housing affordability. Its technology is used by five of the top 10 retail mortgage lenders by volume, three of the four largest real estate listing websites and 600,000 real estate agents. For more information, visit https://downpaymentresource.com/.