Latest news with #EEP
Yahoo
28-05-2025
- Business
- Yahoo
Arrive Home Launches Two New Earned Equity Products
Long-term purchase contract solution provides alternative paths toward homeownership for specific borrower groups SALT LAKE CITY, May 28, 2025--(BUSINESS WIRE)--National affordable housing innovator Arrive Home has launched two new iterations of its Earned Equity Program as part of its continued mission to expand access to homeownership for underserved borrowers. Arrive Home's Earned Equity Program, which helps more consumers achieve their homeownership goals through a long-term purchase contract, is now available in two separate products designed for two different groups of borrowers. EEP Pathway is ideal for ITIN and certain Visa statuses individuals who may be solid long-term renters looking to move on to homeownership. The program, which follows FHA guidelines with enhancements for accessibility, does not require a Social Security Number or FICO score and has flexible guidelines for the self-employed. Using EEP Pathway, lenders can serve ready-to-buy borrowers with confidence. EEP DocLight is designed to help gig workers, first-time buyers and those who may not have qualified for a mortgage under traditional FHA guidelines. The program assesses borrowers using FormFree's RIKI tool for smart, flexible income and asset verification. EEP DocLight's asset-based risk model reviews P&L or bank statements but does not require tax returns or a FICO score, making it a solid choice for non-traditional earners looking to buy a home. Arrive Home first launched its innovative Earned Equity Program in 2023. The program enables participants to enter into a homeownership agreement with monthly payments controlled by a 40-year Homeownership Agreement Amortization Schedule. This allows them to use and enjoy the home as their own, with the intention of eventually buying or assuming the property. At any time during the term of the purchase contract, the participant may buy the home at a price that was fixed when the contract was signed. During the term, the customer has time to improve their credit rating and eliminate other obstacles preventing them from qualifying for a home, eventually buying the property outright using a traditional mortgage loan. Since its launch, the EEP Program has found tremendous success with mortgage lenders looking to serve borrowers previously locked out of homeownership. Now, by designing two EEP iterations intended to cater to different borrower profiles, Arrive Home can help its lender partners reach more underserved borrowers while simplifying the process for all parties involved. "Launching two versions of EEP was a natural next step to expanding access to the program for more Americans looking to achieve their dream of homeownership," said Arrive Home Chief Communications Officer Tai Christensen. "By bifurcating the program, we're helping lenders identify potential borrowers who stand to benefit from EEP's innovation and flexibility." About Arrive Home Arrive Home is a national affordable housing program in the lending space that offers down payment assistance and innovative credit solutions for responsible borrowers across communities. Arrive Home is dedicated to increasing homeownership by working with governmental entities, mortgage lenders and nonprofit groups to offer creative and diverse mortgage products that are designed to enable correspondent lenders to confidently deliver loans to reliable borrowers. In doing so, Arrive Home aims to increase access to homeownership for credit worthy, low- to moderate-income American families, creating generational change one home at a time. View source version on Contacts Press Contact Jacob Gaffneyjacob@ 817.471.7627
Yahoo
28-05-2025
- Business
- Yahoo
Arrive Home Launches Two New Earned Equity Products
Long-term purchase contract solution provides alternative paths toward homeownership for specific borrower groups SALT LAKE CITY, May 28, 2025--(BUSINESS WIRE)--National affordable housing innovator Arrive Home has launched two new iterations of its Earned Equity Program as part of its continued mission to expand access to homeownership for underserved borrowers. Arrive Home's Earned Equity Program, which helps more consumers achieve their homeownership goals through a long-term purchase contract, is now available in two separate products designed for two different groups of borrowers. EEP Pathway is ideal for ITIN and certain Visa statuses individuals who may be solid long-term renters looking to move on to homeownership. The program, which follows FHA guidelines with enhancements for accessibility, does not require a Social Security Number or FICO score and has flexible guidelines for the self-employed. Using EEP Pathway, lenders can serve ready-to-buy borrowers with confidence. EEP DocLight is designed to help gig workers, first-time buyers and those who may not have qualified for a mortgage under traditional FHA guidelines. The program assesses borrowers using FormFree's RIKI tool for smart, flexible income and asset verification. EEP DocLight's asset-based risk model reviews P&L or bank statements but does not require tax returns or a FICO score, making it a solid choice for non-traditional earners looking to buy a home. Arrive Home first launched its innovative Earned Equity Program in 2023. The program enables participants to enter into a homeownership agreement with monthly payments controlled by a 40-year Homeownership Agreement Amortization Schedule. This allows them to use and enjoy the home as their own, with the intention of eventually buying or assuming the property. At any time during the term of the purchase contract, the participant may buy the home at a price that was fixed when the contract was signed. During the term, the customer has time to improve their credit rating and eliminate other obstacles preventing them from qualifying for a home, eventually buying the property outright using a traditional mortgage loan. Since its launch, the EEP Program has found tremendous success with mortgage lenders looking to serve borrowers previously locked out of homeownership. Now, by designing two EEP iterations intended to cater to different borrower profiles, Arrive Home can help its lender partners reach more underserved borrowers while simplifying the process for all parties involved. "Launching two versions of EEP was a natural next step to expanding access to the program for more Americans looking to achieve their dream of homeownership," said Arrive Home Chief Communications Officer Tai Christensen. "By bifurcating the program, we're helping lenders identify potential borrowers who stand to benefit from EEP's innovation and flexibility." About Arrive Home Arrive Home is a national affordable housing program in the lending space that offers down payment assistance and innovative credit solutions for responsible borrowers across communities. Arrive Home is dedicated to increasing homeownership by working with governmental entities, mortgage lenders and nonprofit groups to offer creative and diverse mortgage products that are designed to enable correspondent lenders to confidently deliver loans to reliable borrowers. In doing so, Arrive Home aims to increase access to homeownership for credit worthy, low- to moderate-income American families, creating generational change one home at a time. View source version on Contacts Press Contact Jacob Gaffneyjacob@ 817.471.7627
Business Wire
28-05-2025
- Business
- Business Wire
Arrive Home Launches Two New Earned Equity Products
SALT LAKE CITY--(BUSINESS WIRE)--National affordable housing innovator Arrive Home has launched two new iterations of its Earned Equity Program as part of its continued mission to expand access to homeownership for underserved borrowers. Arrive Home's Earned Equity Program, which helps more consumers achieve their homeownership goals through a long-term purchase contract, is now available in two separate products designed for two different groups of borrowers. 'Launching two versions of EEP was a natural next step to expanding access to the program for more Americans looking to achieve their dream of homeownership." Share EEP Pathway is ideal for ITIN and certain Visa statuses individuals who may be solid long-term renters looking to move on to homeownership. The program, which follows FHA guidelines with enhancements for accessibility, does not require a Social Security Number or FICO score and has flexible guidelines for the self-employed. Using EEP Pathway, lenders can serve ready-to-buy borrowers with confidence. EEP DocLight is designed to help gig workers, first-time buyers and those who may not have qualified for a mortgage under traditional FHA guidelines. The program assesses borrowers using FormFree's RIKI tool for smart, flexible income and asset verification. EEP DocLight's asset-based risk model reviews P&L or bank statements but does not require tax returns or a FICO score, making it a solid choice for non-traditional earners looking to buy a home. Arrive Home first launched its innovative Earned Equity Program in 2023. The program enables participants to enter into a homeownership agreement with monthly payments controlled by a 40-year Homeownership Agreement Amortization Schedule. This allows them to use and enjoy the home as their own, with the intention of eventually buying or assuming the property. At any time during the term of the purchase contract, the participant may buy the home at a price that was fixed when the contract was signed. During the term, the customer has time to improve their credit rating and eliminate other obstacles preventing them from qualifying for a home, eventually buying the property outright using a traditional mortgage loan. Since its launch, the EEP Program has found tremendous success with mortgage lenders looking to serve borrowers previously locked out of homeownership. Now, by designing two EEP iterations intended to cater to different borrower profiles, Arrive Home can help its lender partners reach more underserved borrowers while simplifying the process for all parties involved. 'Launching two versions of EEP was a natural next step to expanding access to the program for more Americans looking to achieve their dream of homeownership,' said Arrive Home Chief Communications Officer Tai Christensen. 'By bifurcating the program, we're helping lenders identify potential borrowers who stand to benefit from EEP's innovation and flexibility.' About Arrive Home Arrive Home is a national affordable housing program in the lending space that offers down payment assistance and innovative credit solutions for responsible borrowers across communities. Arrive Home is dedicated to increasing homeownership by working with governmental entities, mortgage lenders and nonprofit groups to offer creative and diverse mortgage products that are designed to enable correspondent lenders to confidently deliver loans to reliable borrowers. In doing so, Arrive Home aims to increase access to homeownership for credit worthy, low- to moderate-income American families, creating generational change one home at a time.
IOL News
25-05-2025
- Business
- IOL News
Business leaders and opposition slam Malatsi's policy directive, say it is a threat to BBBEE
Communications and Digital Technologies Minister Solly Malatsi faces a backlash after a proposal to amend the digital communication policy for foreign communication companies to bypass the BEE requirement. Image: X Business organisations and opposition political parties have reacted strongly to the recent policy directive issued by the Minister of Communications and Digital Technologies Solly Malatsi that could allow the Starlink satellite internet service to operate in the country without the requisite BBBEE laws, saying this is a threat to black economic empowerment. Critics of the move say that suggesting that Starlink, owned by Pretoria-born billionaire Elon Musk, might operate in South Africa without meeting the 30% HDG (historically disadvantaged groups) ownership requirement in the ICT sector—through an Equity Equivalent Programme (EEP), the Minister is attempting to recast the country's licensing laws through this policy directive. They have also questioned the timing of Malatsi's gazette underf the Electronic Communications Act (ECT), a day after President Cyril Ramaphosa returned from his White House meeting with US President Donald Trump and Musk, who has condemned the country's empowerment laws. Malatsi's spokesperson has denied that the directive was drafted to allow Musk to bypass regulatory requirements and said the timing of the publication was coincidence. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ Kganki Matabane, CEO of the Black Business Council (BBC) said Malatsi's policy directive means the country's sovereignty has been held at ransom by people who have been throwing insults against it. "We are not against Starlink or the investment but against the changing of our laws to accommodate individuals and people who do not respect the country and its laws. We would have lost the country's sovereignty as no one is exempted from complying with the laws of the country,' he said. These sentiments were also echoed by CEO of the Association of Comms and Technology (ACT), Nomvuyiso Batyi, who called for a proper market analysis to ensure the playing fields are levelled. The ACT is a nonprofit organisation doing advocacy work for the ICT sector. "We are calling for proper market analysis in order to check if the market is ready for such a directive and is done within the rule of law or it may have dire consequences. We are not against new entrants but are against lowering the bar for US interests, " she said. Batyi said the ECA stipulated that multinationals seeking licenses to operate in South Africa must comply with the 30% black ownership rules and that a directive attempting to bypass the Act is not legal as the ECA beats equity equivalents. BOSA Deputy president, Nobuntu Hlazo-Webster also weighed in on the matter saying if government can bend the country's regulations for international businesses, it can do the same for the country's businesses. "BOSA calls on Malatsi, to make public the record of decision in this matter, so as to assure the people of South Africa that this was not a back door deal. This is not transformation, it's capitulation. "The message being sent is that if you are a powerful foreign billionaire, you can sidestep South Africa's laws, while our local businesses are forced to jump through hoops. What begins with special concessions, ends in state capture," Hlazo-Webster said in a statement issued on Sunday. Leader of the African Transformation Movement (ATM), Vuyolwethu Zungula called for the immediate withdrawal of the gazette saying:" This government gazette, is nothing short of a shameless sellout to American oligarchs Elon Musk and Donald Trump—a move that spits in the face of our nation's transformation agenda. "By rolling out the red carpet for Starlink and other American corporations, the ANC/DA coalition is handing over our digital future to foreign hands, undermining local businesses, and betraying the very people they swore to uplift. This is not transformation, it is neo-colonialism dressed up as 'investment"." The MK party's spokesperson, Nhlamulo Ndhlela indicated that the party will not be taking the matter to court before it has exhausted all the parliamentary processes available which include requesting a formal legal opinion of the Parliamentary Legal Services in a bid to assess the constitutionality and procedural legality of the directive. "We are attending a Department of Communications and Digital Technologies Portfolio Committee meeting in Parliament on Tuesday morning with the Minister. We will then make a determination from there,'" Ndhlela stated. In a statement, Malatsi's spokesperson, Kwena Moloto said the minister is empowered by the EIPs, provided for under the Broad-Based Black Economic Empowerment Act (Act 53 of 2003) and the ICT Sector Code to initiate the directive. "The minister is empowered by the the BEE Act which allows qualifying multinationals to meet empowerment obligations through alternatives to 30% ownership — such as investing in local suppliers,enterprise and skills development, job creation, infrastructure support, research and innovation, digital inclusion initiatives, and funding for SMMEs. "Despite the legal standing of the ICT Sector Code under the BBBEE Act, ICASA's Ownership Regulations do not fully reflect its provisions — particularly regarding deemed ownership and EEIPs. Therefore, this policy direction aims to ensure consistency, unlock investment, and give practical effect to the ICT Sector Code in line with national development goals, including transformation," Moloto said.
The South African
23-05-2025
- Automotive
- The South African
SA government quick to change policy to pave the way for Elon Musk's Starlink
The South African government has officially announced a policy shift that will allow satellite internet operators like Elon Musk's Starlink to enter the local market without meeting strict black ownership requirements, in a move aimed at boosting digital access and repairing strained relations with the United States. Communications and Digital Technologies Minister Solly Malatsi confirmed the adoption of an equity equivalent programme (EEP) through a signed policy directive, following months of speculation and behind-the-scenes negotiations. The directive allows international telecoms companies to bypass the traditional 30% black ownership threshold under South Africa's Black Economic Empowerment (BEE) laws. Instead, operators will be permitted to invest in approved local development projects – such as infrastructure, small business funding, and digital inclusion initiatives – to meet transformation objectives. 'This programme seeks to balance our need for economic inclusion with our ambition to accelerate broadband access, particularly in rural and underserved areas,' said Minister Malatsi. The shift comes shortly after President Cyril Ramaphosa's high-level meeting with US President Donald Trump in Washington. It is widely viewed as a diplomatic concession, particularly in response to criticism from Musk and Trump, both of whom have accused the South African government of racial discrimination and 'anti-white policies.' Musk, who was born in Pretoria, has repeatedly condemned South Africa's race-based economic laws, calling them 'openly racist.' Starlink has not launched in South Africa due to regulatory restrictions but has expressed strong interest in entering the market. According to the directive, the EEP will follow a model similar to that adopted by the automotive industry in 2019, when global car manufacturers like BMW, Ford, and Toyota created transformation funds instead of relinquishing equity. Industry experts have welcomed the decision, noting that only 1.7% of rural households currently have access to the internet. Starlink's low-Earth orbit satellite technology could revolutionise connectivity in areas long neglected by traditional broadband providers. The Independent Communications Authority of South Africa (ICASA) will now be tasked with formally implementing the directive and processing applications under the new framework. With this move, the South African government hopes to attract foreign investment, improve digital equity, and foster goodwill with global partners, all while preserving the spirit of economic transformation. Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1 Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
