A new homebuyer and home-equity investment bank will be announced Tuesday by the Roadrunner Financial Services, which is launching in the Midwest as part of a nationwide expansion.
The new Roadrunner is designed to provide financial and real estate services to homeowners and the communities where they live, said the company’s CEO and co-founder, David L. Miller.
Roadrunner’s goal is to make homebuying more accessible and accessible for all.
The Roadrunner financial services arm will offer investment banking and real-estate financing.
It will be the first of its kind in the United States.
The bank is the brainchild of Miller and his wife, Ann, who are also investors.
The couple met in college and became entrepreneurs in their early 20s.
Ann said she has a long-standing interest in finance and entrepreneurship and has worked as a home equity manager, investment banker, real estate appraiser and realtor.
Miller is also an investor in real estate and other companies.
He has said that his first goal is “to give people more financial freedom,” but the Roadrunners goal is broader.
The company will create a network of financial advisors, credit card providers and brokers who can help people make smart, long-term investments.
Miller and Ann said that they are targeting “high-growth areas of the Midwest, where the mortgage industry is struggling to stay afloat,” according to the company website.
They expect to hire 1,200 new people and open more than 500 new homes this year.
The company’s new bank is being developed by Miller and Ann’s business partner, Mike McElwain, who was a partner at Merrill Lynch before joining Roadrunner in December.
They hope to hire 50 to 60 people at the new branch in Chicago, and hope to have it open by spring 2019, Miller said in an interview with CNN.
Miller is also launching a new investment advisory firm, the Road Runner Financial Advisors, that will offer financial education to homeowners in the region.
The group is a partnership between Roadrunner and the College of Business, which also has offices in Chicago.
Miller said the RoadRunner bank will work with homeowners to learn about financial options, including mortgage modifications and loan forgiveness.
The bank will also offer financial counseling, which will help people learn about ways to improve their credit and get a better deal on their home.
“The goal of the bank is to help people get the best deal for their home, whether it’s by buying it on their own or by taking out a loan from a credit union,” he said.
Miller, Miller and McElWain said the new financial service arm will have a mission of helping homeowners make better financial decisions.
They will also work to improve the mortgage market by giving homeowners financial education, offering loan modifications and providing information on foreclosure relief.
“It’s not just for the sake of helping people save money,” Miller said.
“It’s really about helping them to make better decisions and getting better returns on their investment.”
Roadrunner’s first major new addition is a financial-services center that will provide clients with information about home loans, the financial consequences of those loans and the best financial options available to them.
The office will be in Chicago’s Uptown neighborhood.
The other new addition to the financial services group is an office in Columbus, Ohio.
The new office will provide the bank’s new services to consumers, including the sale of loans.
The Ohio office will also be responsible for helping consumers navigate state laws and mortgage rules, including how they can access federal financial help, including for the mortgage modification process.
“Our goal is that consumers are able to find the best and most effective solutions for their needs,” Miller told CNN.
“We also have a wide range of financial products to help consumers understand their options.”
Miller said he wants to build a network and expand the financial market so that consumers can make better choices.
He said his goal is for the bank to help homeowners find the most profitable loans and best interest rates, and to help them make smart financial decisions about where they invest their money.
“We have a long way to go to make the mortgage marketplace safer for all Americans,” Miller added.