VALLEY FORGE, PA (ABNS 3/20/17)—As a founding member of the Interfaith Center on Corporate Responsibility (ICCR), American Baptist Home Mission Societies (ABHMS) encourages American Baptist homebuyers of African American and Hispanic heritage to inquire with home loan lender Wells Fargo regarding recent commitments to increase home buying among these populations.
Seeking to help address lower homeownership rates in the African American community, Wells Fargo recently announced a $60 billion lending commitment to create at least 250,000 African American homeowners by 2027.
The effort seeks to do the following:
- lend $60 billion to qualified African American consumers for home purchases by 2027;
- increase the diversity of the Wells Fargo Home Lending sales team; and
- support the effort with $15 million to support a variety of initiatives that promote financial education and counseling over the next 10 years.
Joining Wells Fargo in the effort are the National Association of Real Estate Brokers, the NAACP and the National Urban League. Comprised of African American real estate professionals, the National Association of Real Estate Brokers has also set a homeownership goal. The National Urban League provides homebuyer education and counseling through its network of affiliate offices across the country.
The African American lending commitment is the second initiative from the Housing Policy and Homeownership Growth Strategies group, a Wells Fargo Home Lending team advancing homeownership for minorities, first-time homebuyers and low- to moderate-income customers. In 2015, the team announced an agreement with the National Association of Hispanic Real Estate Professionals to support the Hispanic Wealth Project and to address Hispanic homeownership rates.
For more information, contact a Wells Fargo home mortgage consultant at 1-877-937-9357.
Celebrating its 46th year, ICCR is the pioneer coalition of shareholder advocates who view the management of their investments as a catalyst for social change. Its 300-member organizations comprise faith communities and other socially responsible investors who work in coalition to promote greater corporate accountability on issues of environmental and social importance.
American Baptist Home Mission Societies partners with American Baptists in answering God’s call to promote Christian faith across the United States and Puerto Rico to cultivate Christ-centered leaders and disciples, and heal and transform communities, by developing aligned action networks and programs.
American Baptist Churches USA is one of the most diverse Christian denominations today, with approximately 5,000 congregations comprised of 1.3 million members, across the United States and Puerto Rico, all engaged in God’s mission around the world.