Comptroller of the Currency to Visit NACA’s Achieve the Dream Event Monday Morning

Cabinet Level Official to Witness how NACA is Re-Inventing Mortgage Lending

(Baltimore, MD) Joseph Otting, U.S. Comptroller of the Currency, will visit NACA’s Achieve the Dream homeownership event Monday morning at 11:00 am.

The Achieve the Dream event, which opened Thursday at the Radisson Hotel Baltimore Downtown Inner harbor, has seen more than 6,000 people attend in order to reach the American Dream of homeownership by accessing NACA’s Best in America Mortgage.

“We are delighted to have Mr Otting attend this event”, said Bruce Marks, Founder and CEO of NACA.  “As one of the most influential figures in the American banking and financial industries, he will get to see first-hand how the NACA standard is reinventing mortgage lending and should become the national standard.” 

The list of government leaders who have visited NACA’s Baltimore event have included Baltimore City Council member John Bullock and City Council President Brandon Scott and senior HUD official Sarah Gereke. Visitors to previous NACA events have included members of Congress, mayors, governors and representatives from nearly every level of government. Mr. Otting’s visit is the first time a Cabinet-level official has visited a NACA event in more than ten years. Then-Comptroller of the Currency John C. Dugan visited one of NACA’s Save the Dream events during the peak of the mortgage crisis in early 2009.

The NACA program has earned its title as the best mortgage in America with no down payment, no closing costs, no PMI and a below-market fixed rate (3.5% 30-year and 2.875% 15-year as of 8/11/19). Also, credit scores are not used. Bank of America has committed $10 billion to the NACA program.

“Mr. Otting is going to get a good look at how mortgage lending should be done in this country”, Marks continued. “The NACA program has destroyed many of the myths about lending to low and moderate income home buyers and overcome the obstacles they face such as high savings requirements, unaffordable terms and restrictive underwriting. We want Mr. Otting to see how the NACA program shows how affordable mortgage lending can be done on scale for low and moderate income home buyers without unrealistic risk-based lending requirements.”