Skip to main content

Applications Sought for Affordable Housing Challenge

Phil Hall
Jan 15, 2020
Photo credit: Getty Images/Zephyr18

Wells Fargo and Enterprise Community Partners have launched the application process for the Housing Affordability Breakthrough Challenge, a nationwide competition seeking new solutions increase housing affordability opportunities.
The competition will focus on housing construction, financing and resident services and support. The sponsoring organizations will award six grants of more than $2 million each, and Enterprise Community Partners will provide two years of technical assistance to the winners for bringing their concepts to fruition.
Responses to the first-round request for proposals are due by Feb. 19. Proposals may cover single-family or multifamily housing, can assist homeowners or renters and can focus on any sector of the community, including children, youth, families and seniors.
“Transformative change in communities happens when the best ideas are paired with the right mix of resources and technical know-how, and the Housing Affordability Breakthrough Challenge allows us to do that six times over,” said Enterprise Senior Vice President of National Initiatives Melinda Pollack. “This incredible commitment from Wells Fargo will elevate and scale promising new ideas that will create real change for the millions of families who lack access to quality affordable homes nationwide.”
Eileen Fitzgerald, head of housing affordability philanthropy with the Wells Fargo Foundation, said: "Together with Enterprise Community Partners, we will engage with creative innovators who have know-how, technical skill, imagination—and with catalytic investment—can transform housing affordability ideas into real action on the ground. With the Housing Affordability Breakthrough Challenge, we are bringing forward our financial resources combined with our business expertise to inspire vitally needed scalable and effective housing affordability solutions.”

Jan 15, 2020
Planet Home Lending Reports Total Origination Volume Of $6.8B In Q2 2021

Planet Home Lending's total origination volume reached $6.8 billion in Q2 2021, up 77% from $3.9 billion in Q2 2020.

Industry News
Jul 22, 2021
FHFA Ends Controversial Refinance Fee

The FHFA announced that Fannie Mae and Freddie Mac will eliminate the Adverse Market Refinance Fee for loan deliveries, starting August 1, 2021.

Analysis and Data
Jul 19, 2021
Interfirst Mortgage Launches ONE, Backed By Non-Owner Occupied Properties

ONE is a unique product built on a single interest rate with no adjustments and qualifies off the cash flow of the rental property.

Industry News
Jul 16, 2021
Global Digital Lending Market Projected To Reach $27B By 2028

The Global Digital Lending Platform Market was valued at $7.14 billion in 2020 and is projected to reach $27.07 billion by 2028.

Analysis and Data
Jul 14, 2021
FOMC Discusses Raising Interest Rates

Inflationary pressures have finally forced the Federal Open Market Committee (FOMC) to discuss raising interest rates and tapering its bond-buying program.

Analysis and Data
Jul 14, 2021
Fathom Holdings Inc. Creates New Hispanic Division

Fathom Holdings Inc., a technology-driven real estate platform, announced the creation of their Hispanic Division to more adequately serve this fast-growing demographic. 

Industry News
Jul 07, 2021