News posted On February 23, 2021
San Ramon, CA – Doug Nesbit, Director of Affinity Partnerships, CMG Financial was recognized as a 2021 Real Estate Newsmaker by RISMedia, the leading information and news provider for the residential real estate industry. Doug was recognized in the trendsetter category for his work in organizing a series of affordable home buying virtual summits through CMG Financial’s partnership with Freddie Mac and his continued effort to educate home buyers and real estate agents on innovative pathways to homeownership.
In 2020, CMG Financial became an approved provider of the Freddie Mac BorrowSmartSM Program. Combined with CMG Financial’s proprietary HomeFundIt™ down payment gifting platform, Freddie Mac BorrowSmartSM makes buying a home more affordable. To educate real estate agents about more pathways to homeownership, Doug partnered with Freddie Mac for a virtual road tour, delivering live broadcasts tailored to select markets, concluding with a national event. Together with Cassandra Skidanov, Affordable Housing Manager Single Family, Freddie Mac, they hosted six state-specific events that reached over 139,000 initial viewers and the national event brought in over 34,000 initial viewers. Attendees experienced an in-depth strategy session on how to reach the rapidly growing first-time home buyer demographic and stand out in a crowded market.
HomeFundIt gives home buyers a vehicle to collect down payment gifts from family and friends through an online campaign page. All down payment contributions are safely stored and ready to be used at the time of home purchase. HomeFundIt users also have an opportunity to qualify for up to a $1,500* grant toward closing costs and grow their down payment even more through the exclusive cash-back shopping program, UpIt™. Through the Freddie Mac BorrowSmartSM Program, home buyers with less than 50% AMI can qualify for $1,500 while those with greater than 50% but less than 80% AMI are able to qualify for $1,000. Home buyers purchasing a manufactured home or a home in a high needs rural area, with greater than 80% but less than 100% AMI, can qualify for $1,000 in assistance.
Late last year, CMG Financial and Freddie Mac partnered again to launch its virtual education series with separate sessions geared toward both first-time home buyers and real estate agents. Doug Nesbit was instrumental in organizing these events featuring a panel of financial experts including mortgage lenders, real estate agents, and financial advisors. The education series will continue this year. For the latest updates, like and follow CMG Financial on Facebook.
* HomeFundIt Terms - Grants available to first time home buyers, as defined by Fannie Mae. Housing counseling must be completed by HUD approved housing counselor to receive CMG Financial grant. Find a housing counselor near you by visiting https://www.hud.gov/offices/hsg/sfh/hcc/hcs.cfm. Grant funds are applied to nonrecurring closing costs. If closing costs are fully paid by seller or interested party, grant funds can be used to buy down the rate. Grant funds cannot be used towards a down payment. Visit https://homefundit.com/Terms for complete terms and conditions.
About CMG Financial
CMG Financial is a well-capitalized, privately held mortgage banking firm founded in 1993. The company makes its products and services available to the market through three distinct origination channels: retail lending, wholesale lending, and correspondent lending.
CMG Financial currently operates in all states, including the District of Columbia, and holds federal agency lending approvals with HUD, VA, RHS, GNMA, FNMA, and FHLMC. CMG Financial is widely known throughout the mortgage banking and housing markets for responsible lending practices, industry and consumer advocacy, product innovation, and operational efficiency.
RISMedia was founded in 1980 by CEO and Publisher John E. Featherston as the residential real estate industry's definitive source for news and information for real estate's most profitable and productive professionals. For over 40 years, RISMedia has provided the industry with news, strategies and trends, and educational events, including RISMedia's Real Estate CEO Exchange; the Real Estate Newsmakers Reception & Dinner; and the Power Broker Forum, Reception & Dinner. For more information, please visit www.rismedia.com.