Announcing the upcoming closure of Chambers Financial Group
Chambers Financial Group, a division of the Chambers Federation, represents both federal and private banking institutions and has helped shelter the industry through the financial crisis beginning in 2008. Incorporated in 2005, this division has managed over $2.5 billion dollars in assets in the United States. Clients represented by Chambers Financial Group included; Freddie Mac, Fannie Mae, Citibank, Bank of America, Duestche Bank, HSBC, Flagstar Bank, Chase Manhattan Bank, Banco de Popular, Ocwen Loan Servicing, Huntington Bank, National City and many others.
While the default industry is not well known for its positive impact on the economy or the families and individuals involved during the economic crisis, several initiatives were created to mitigate the negative impact. Chambers Financial Group helped author and implement many of the programs instituted by its clients with the end goal of helping families to keep their homes and recover from the economic downturn that began in 2008. The company’s principle focus was on one of the hardest hit areas of the US, Detroit, which between 2006 and 2015, each month, on average, the company assisted over 100 families. Many of these homeowners were first time owners, with small children, many previously employed by the automotive industry which continued its decline in the area.
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