NextJob developed the banking industry’s first reemployment offering in 2011 and partnered with Fifth Third Bank to help reemploy homeowners facing foreclosure due to unemployment. NextJob helped 40% of Fifth Third’s at-risk long term unemployed homeowners land in jobs in six months and Fifth Third expanded the industry-first initiative bank-wide the next year. It is now delivering an ROI of over 300%. Positive press, included articles in The Wall Street Journal, The American Banker and The Chicago Tribune.
Since that time, M&T Bank and USAA have launched NextJob’s Homeowner Reemployment program. As Jay Brinkman, former Chief Economist for the Mortgage Banker’s Association said in 2012, ““When it’s a loan structure issue, you can deal with that, but when it’s an unemployment issue, unless you go out and find them a job there’s not much you can do . . . .”
NextJob’s vision is that all mortgage borrowers will have the chance to save their homes by getting help to land a job and that the lending industry will broadly implement reemployment services with a strong ROI as a proactive solution for mortgage, credit card, auto loan and other borrower defaults due to unemployment.