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MAXEX Expands Access to Low-Cost Capital for Green Energy Home Improvements with New Sustainable Lending ProgramsMAXEX, the first digital mortgage exchange to enable the buying and selling of residential loans through a single clearinghouse, announced the launch of two new lending programs to support the growth of green energy home improvements. The programs, developed in collaboration with J.P. Morgan, further expand MAXEX's new Environmental, Social and Corporate Governance (ESG) business line. The U.S. lacks sufficient low-cost options to help borrowers finance green energy home improvements such as solar panels and geothermal units, despite increasing consumer demand. As a result, borrowers are often forced to pursue high interest rate loans with short maturities, utilize costly leasing options, or forego such improvements altogether. MAXEX's new sustainable lending programs expand financing flexibility by providing pricing incentives and enabling borrowers to finance green energy improvements into their mortgage balance at the time of purchase or refinance. This allows homeowners to amortize the cost of these green energy home improvements over a 30-year term at a below market interest rate. These programs are now available to MAXEX's growing nationwide network of moe than 170 community banks, regional banks, credit unions and independent mortgage lenders. "MAXEX is passionate about leveling the playing field for Main Street banks by using our rapidly-growing digital exchange to deliver low-cost capital that drives social impact," said Tom Pearce, Chairman and CEO of MAXEX. "These ESG programs fill a significant void in the mortgage market by increasing incentives for green energy improvements." MAXEX's ESG programs for green energy home improvements are available for loan amounts ranging from $400,000 to $3,000,000 and include:
MAXEX launched its ESG business line on December 21, 2020 with MAXEX Opportunity and MAXEX Opportunity Express, which offer preferred pricing for minority, women and veteran-owned lenders. To date, eligible lenders have reached/achieved approximately $600 million in lock trading volume under these programs. About MAXEX MAXEX is the first digital mortgage exchange to enable buying and selling residential loans through a single clearinghouse. We connect bank and non-bank lenders with premier investors including Wall Street banks, real estate investment trusts and insurance companies to enable faster, more efficient liquidity. MAXEX is an Atlanta-based technology company led by mortgage experts and financially backed by leading private equity and capital market investors. Learn more by visiting www.maxex.com.
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