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“While Latinos continue to face barriers in becoming homeowners, they also have the greatest opportunity for homeownership growth in the US. To maximize this opportunity, we are launching the HOME initiative to help create four million new Latino homeowners by 2030,” said Janet Murguía, president and CEO of UnidosUS. “Our comprehensive strategy will help shape needed policy reforms while providing tools and resources Latinos need to successfully navigate the homebuying process. Bolstering Latino homeownership isn’t just smart policy; it will pay economic dividends to neighborhoods, communities and our country.”
Wells Fargo joined the effort as an “anchor funder,” investing $10 million in philanthropic grants for the HOME initiative and $15 million for other UnidosUS community-focused programs and non-profit affiliate partners.
“We need to make homeownership more accessible, especially in historically marginalized communities,” said Kristy Fercho, head of diverse segments, representation and inclusion at Wells Fargo. “We will continue to expand our programs to reach more customers in underserved communities by leveraging our strong partnerships with UnidosUS and other non-profit organizations to break down the systemic barriers that make homeownership more difficult to attain and help make the dream of homeownership accessible to all Americans.”
Read more: Latino home loans – why it’s time to cater to this market
The non-profit said it will launch the first targeted investments in several cities with large Latino populations (Chicago, Phoenix, Orlando, Houston, and Stockton, Calif.) with plans to expand into other states in the future.
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