Wells Fargo Housing Foundation Opens First of 30 HomeOwnership Centers Nationwide
Des Moines — February 27, 2001
As part of its initiative to increase homeownership, the Wells Fargo Housing Foundation is sponsoring the development of 30 HomeOwnership Centers across the country. The HomeOwnership Centers will be operated through NeighborWorks® organizations, affiliates of Neighborhood Reinvestment Corporation, and will provide a variety of home buying services to low- and moderate-income families, including education classes, pre-purchase counseling and down payment assistance.
The first HomeOwnership Center opened this week in Nashville, Tenn. The next two centers, located in Kalmazoo, Mich and Toledo, Ohio, are scheduled to open in March.
"We're very excited about the grand opening of our first HomeOwnership Center, and the rapid pace at which the rest of the centers are opening," said Kimberly Jackson, executive director of the Wells Fargo Housing Foundation. "The Wells Fargo Housing Foundation's mission is to increase homeownership opportunities for low- and moderate-income families, and we believe sponsoring the development of HomeOwnership Centers is a great way to directly impact homeownership levels in communities we serve."
The Wells Fargo Housing Foundation was created in 1993to provide permanent solutions to affordable housing needs in Wells Fargo communities nationwide. It is funded by Wells Fargo Home Mortgage, which makes nearly one in four of its loans to low- and moderate-income homebuyers.Back to Top
Nashville HomeOwnership Center
The HomeOwnership Centers are being developed over three years by an $877,000 partnership grant from the Wells Fargo Housing Foundation to Neighborhood Reinvestment Corporation, a Congressionally-chartered community development organization. Neighborhood Reinvestment Corporation is opening the HomeOwnership Centers within its NeighborWorks® network, a collaboration of more than 200 local, non-profit housing organizations.
Neighborhood Reinvestment Corporation is one of the Wells Fargo Housing Foundation's three national partners. The foundation also has a $16.5 million partnership with Habitat for Humanity, which is helping Habitat build 100,000 homes through its Rebuilding Our Communities campaign. HomeAid America is leveraging a $1.15 million grant from the foundation to establish 10 new HomeAid America chapters across the country over a three-year period. HomeAid America works in partnership with the building industry and non-profit care providers nationwide to build or renovate facilities for the estimated one million temporarily homeless men, women and children.
In addition to its national partnerships, the Wells Fargo Housing Foundation encourages team members to participate in local housing projects by supporting the projects financially. Through the volunteerism of Wells Fargo team members, more than 1,000 homes have been built or renovated through the foundation since its inception in 1993.
Based in Des Moines, Iowa, Wells Fargo Home Mortgage, Inc., is a subsidiary of Wells Fargo & Company (NYSE: WFC). It is the leading originator and servicer of residential mortgages. With a presence in more than 1,200 mortgage stores and Wells Fargo bank locations serving all 50 states, Wells Fargo Home Mortgage operates the leading mortgage lending network in the country. Combined, its retail and wholesale lending operations provide funding for approximately one of every 15 homes financed annually in the United States.