House Financial Services Committee approves FHA reform bill

Option One and AREAA partner in educationMortgagePress.comMinority mortgage education Option One Mortgage Corporation has partnered with the Asian Real Estate Association of America (AREAA) to provide consumers with mortgage education materials in Asian languages, beginning with Chinese and Vietnamese. "Although the Asian homeownership rate has grown significantly over the past several years, it still lags [behind] that of the majority population," said Faith Schwartz, senior vice president of enterprise risk and public affairs for Option One, and a member of AREAA's board of directors. "We hope that providing materials in Asian languages will strengthen consumer awareness of the mortgage-lending process and help borrowers make the right mortgage choices for their situations." Irvine, Calif.-based Option One Mortgage Corporation originates and acquires nonprime residential mortgage products. For more information, call (800) 704-0800 or visit www.oomc.com. The Asian Real Estate Association of America, based in Carlsbad, Calif., is a national professional trade organization dedicated to closing the homeownership gap facing the Asian Pacific American community. For more information, call (760) 918-9162 or visit www.areaa.org.