Hispanic Wealth Project Adds Several Corporate Partners
April 14, 2017
The Hispanic Wealth Project (HWP), a blueprint to triple Hispanic household wealth by 2024, has announced the addition of several new partners for 2017. HWP has focused its efforts on three component goals: Advancing sustainable homeownership, improving the success of Hispanic entrepreneurs, and increasing Hispanic investments in non-cash financial assets. The 2017 HWP partners will contribute to these component goals by both sponsoring and fulfilling initiatives with the HWP.
In the HWP Chairman’s Circle, Wells Fargo Home Mortgage has pledged to make $125 billion in mortgage originations to Hispanic homebuyers. The company has also committed to substantially increase the number of Hispanic home mortgage consultants it employs, and will contribute $10 million in funding grants to promote financial education and counseling for first-time homebuyers.
At the Benefactor level, Freddie Mac and MassMutual Financial Group have committed to projects aimed at increasing knowledge and participation in savings and investments among Hispanic families and providing opportunities for affordable homeownership. Freddie Mac is committed to serving HWP’s goals with mortgage products such as the Home Possible Advantage Mortgage and the Affordable Home Loan Solution. The company is collaborating with Bank of America to provide affordable mortgage products for low- to moderate-income families. MassMutual and the HWP will work together to advance their respective missions and mutual interest in increasing knowledge of and participation in savings and investments among Hispanic families. By providing services that help their members achieve important financial goals, MassMutual makes great strides in improving the economic well-being of their members, communities and America at large.
At the Trustee level, Bank of America, Quicken Loans and Union Bank have dedicated resources to support the HWP through the promotion of programs aimed at increasing Hispanic homeownership and small business ownership. All three HWP Trustees have supported the project since its inception.
At the Contributor level, New American Funding, the largest Hispanic-owned mortgage company in America, has aligned with the HWP to bring career opportunities and mortgage financing to Hispanic homebuyers.
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