SpringFour and Enact Partner to Provide Tools to Enable Sustainable Homeownership

The financial health fintech and mortgage insurance provider are giving financial health tools to borrowers from 1,800 lenders nationwide.

CHICAGO, January 9, 2025 – SpringFour, the first-of-its-kind, leading financial health fintech, today announced a partnership with Enact Mortgage Insurance, a leading private mortgage insurance provider. The partnership supports Enact borrowers who are struggling financially by giving them no-cost access to SpringFour’s financial health resources.

Homeownership can come with financial challenges. According to a 2024 U.S. Mortgage Insurers report, it can take as long as 27 years for a household earning the national median income ($74,580) to save a downpayment of 20%, plus closing costs, for a $394,100 home (the median price for a single-family home in 2023). Mortgage insurance helps offset this financial barrier by enabling families to get into homes sooner with a lower down payment. Enact is taking this one step further by providing financial resources to borrowers who are struggling to make timely mortgage payments, giving these borrowers tools that will help them cut expenses and bring their mortgage loans current.

SpringFour’s partnership with Enact provides S4connect, SpringFour’s all-in-one customer self-serve financial wellness solution, to delinquent borrowers whose loans are insured by Enact. Borrowers have access to SpringFour’s more than 23,500 vetted, nonprofit and government resources for home repair, food assistance, heating & utilities savings, disaster relief, and more that may make it easier to save money, get back on track with mortgage payments, and stay in their homes.

By addressing an increasing need across the United States for sustainable homeownership, this partnership supports Enact’s mission of helping people buy a house and keep it a home.

“At Enact, our mission drives everything we do,” said Enact Chief Operations Officer Brian Gould. “We are committed to promoting sustainable homeownership, whether by assisting borrowers in purchasing a home or by providing every possible resource to help delinquent borrowers keep their home. Our partnership with SpringFour reflects our dedication to offering diverse solutions to meet the unique needs of borrowers.”

Through her leadership in affordable housing policy, her dedication to sustainable affordable homeownership is what first led Rochelle Nawrocki Gorey to found SpringFour in 2005. 

“This partnership is at the heart of why I founded SpringFour. Empowering Enact’s borrowers with SpringFour’s financial health resources ensures more homeowners will have the tools they need to save money and stay in their homes,” said Nawrocki Gorey. 

Since its launch in 2005, SpringFour has connected millions of Americans to resources that improve their financial health. In the third quarter of 2024, SpringFour delivered 2,192,900 financial health referrals to consumers in need.

About Enact

Enact (Nasdaq: ACT), operating principally through its wholly-owned subsidiary Enact Mortgage Insurance Corporation since 1981, is a leading U.S. private mortgage insurance provider committed to helping more people achieve the dream of homeownership. Building on a deep understanding of lenders’ businesses and a legacy of financial strength, we partner with lenders to bring best-in class service, leading underwriting expertise, and extensive risk and capital management to the mortgage process, helping to put more people in homes and keep them there. By empowering customers and their borrowers, Enact seeks to positively impact the lives of those in the communities in which it serves in a sustainable way. Enact is headquartered in Raleigh, North Carolina.

About SpringFour

Founded in 2005, SpringFour is the first-of-its-kind, leading financial health fintech that empowers banks, credit unions, fintech lenders, employers, loan servicers, mortgage insurers, nonprofits, and organizations across all industries to connect consumers with vetted, local nonprofit and government financial health resources. Trusted by leading organizations including Capital One, BMO, Fifth Third Bank, Fay Servicing, Freedom Mortgage, LoanCare, PHH Mortgage, MSUFCU, M&T Bank, OppFi, KeyBank, Patelco Credit Union, Avant, Enova, Oportun, Mission Lane, Enact MI, and organizations across all industries, SpringFour’s product suite includes an innovative contact center tool, digital self-service products, and APIs that increase payment performance, add brand value, strengthen customer relationships, drive ESG and social impact, support consumer financial health, and improve bottom lines. SpringFour has received many prestigious awards including American Banker’s Most Influential Women in Fintech, Inc. Magazine’s Female Founders 250, Real Leaders’ Top Impact Companies, Fast Company’s Brands that Matter, Finovate’s Innovator of the Year, and more. SpringFour was recently acquired by C&R Software, a CORA Group company and subsidiary of Constellation Software, Inc., the 23rd largest software company in the world with an $80B market cap.