One year later: How Wells Fargo is helping African American families and building stronger communities through homeownership
By Darius Toston Moore Regional Diverse Segments, Wells Fargo Home Mortgage
Advancing homeownership is an important priority for Wells Fargo, especially in diverse areas where it can help individuals and families succeed financially, and help re-establish and revitalize communities.
For those reasons, in 2017, Wells Fargo with support from the National Urban League, NAACP and the National Association of Real Estate Brokers, announced a proactive 10-year initiative to help build stronger communities by raising the number of African American homeowners.
Through that initiative, we committed to helping the African American community in three tangible ways:
- Providing $60 billion in financing to create 250,000 new, African Americans homeowners
- Growing our diverse team of Home Mortgage Consultants
- Dedicating $15 million for homebuyer education and counseling to help remove barriers generated by a lack of financial education and knowledge of the home buying process.
Now, as we celebrate the one-year anniversary of our African American Homeownership Commitment, we can proudly report making great strides in increasing African American homeownership. So far, we’ve delivered $1.8 million in grants to home buyer financial education and counseling. Our African American Home Mortgage Consultants make up 4.7 percent of our diverse sales team and we’ve provided $5.74 billion dollars in financing to help more than 23,000 African mortgages Americans become homeowners.