Houston, Texas (PRWEB) April 26, 2010
Hope Tree Home Loans, wholly owned subsidiary of Houston-based Calvert Capital Corporation, has launched a new charitable program that will donate to its borrowers' choice of charities and non-profit organizations.
"We have created Hope Tree to give back to our community so significantly impacted by the economy," said J. Russell Calvert, Hope Tree's president and managing director.
The Hope Tree program is the first of its kind in the mortgage industry that combines corporate charitable giving with consumer choice.
Beginning immediately, once borrowers have completed the formal closing process of any type of mortgage loan product, Hope Tree Home Loans will donate an amount equal to one-quarter of one percent of the principal sum of the loan to the borrower's choice of charity or non-profit group.
A $200 thousand mortgage loan, for example, would result in the borrower's charity receiving a donation in the amount of $500. The median home mortgage loan in the Houston metro area currently is approximately $165 thousand.
Hope Tree Home Loans also plans to partner with Houston based area charitable organizations and non-profit groups in an effort to provide opportunities for those organizations to benefit from the company's program.
"We believe it is essential to support causes that are important to our customers, but also because it is the right thing to do. It is our mission," said Michael L. Johnson, Hope Tree CEO and Managing Director.
Johnson added borrowers will not pay or be assessed any additional costs based upon Hope Tree's program. When the mortgage loan is completed, the borrower's selection of a charity or other qualified non-profit organization will receive a donation from Hope Tree in the name of the borrower. The borrower also will receive a commemorative acknowledgement from the company.
"At Hope Tree, we employ non-commissioned loan officers that enables savings to be passed along to the consumer making the lowest cost mortgage possible. Our unique business model provides us the ability to be completely competitive with every type of mortgage product, and it enables us to serve our customers with the fairest pricing anywhere," said Johnson.
Calvert Capital Corporation is one of Houston's oldest and most respected mortgage banking firms with originations exceeding $1 billion. Founded in 1997 by Calvert, it employs more than 20 seasoned loan officers along with a full complement of processors, underwriters and other support personnel.
Calvert is a native Houstonian where he began his retail mortgage origination career over 17 years ago and continues to be a leader in the Houston mortgage residential lending community today. He is an active member of Houston Area Realtors, National Association of Mortgage Bankers, as well as Greater Houston Builders Association. He also is a member of the mission board of Houston's First Baptist Church and is an active committeeman for the Houston Livestock Show and Rodeo.
Johnson has more than two decades' experience in the mortgage industry. Most recently, has was a managing director of Houston-based Old Interfirst Mortgage. As a national accounts manager, he helped ABN AMRO Mortgage Group become one of the nation's largest and most wholesale lending companies in history.
Mr. Johnson began his financial services career with a position on the trading floors of Government Securities Corporation as a vice president and senior member of the Small Business Administration trading group. Johnson's passion for giving back to his community includes active roles as a member of the board of directors of several Houston-area non-profit groups.
# # #