Nehemiah Corporation of America
Nehemiah Corporation of America is a non-profit organization based in Sacramento, California specializing in homeownership, affordable housing and community development. It started in 1994 as a small organization, but grew to prominence later in the 1990s after it developed a program that allowed home buyers to make down payments on their purchases using funds that were derived from the home sellers. This program, the Nehemiah Program, became popular and was widely emulated, giving birth to what came to be known as the seller-funded down-payment assistance industry. The industry attracted criticism from U.S. federal agencies (particularly the Government Accountability Office and the Internal Revenue Service) and was ultimately shut down in 2008 by a change in federal law.
North American Trust Company
The North American Trust Company was organized in early 1886, with a capital of $1 million. At the end of 1897, the company report announced that it had resources of about $5.5 million, an increase from about $5.1 at the end of 1896. At the start of 1898, the company was located in the American Surety Building at 100 Broadway. On January 19, 1898, Colonel William L. Trenholm was elected president of the North American Trust Company. Former president Samuel M. Jarvis resigned and it was announced he would "devote himself more especially to the international business of the company." The company at large announced it would be more active with expansion, both in the United States and Europe. By May 1899, vice presidents Jarvis and Roland R. Conklin were the primary stockholders of the company. Jarvis had organized the company branches in Santiago and Havana in Cuba. The company also had a branch in London.