Investment In New Home Owners

Saturday, March 1, 2003

A $500 Billion Investment In New Home Owners (NAPSA)—The dream of home ownership may soon become a reality for many people who have not had access to a mortgage. That’s because a $500 billion commitment to provide mort- gages to Asian, Hispanic, African-American and other minority borrowers, new immi- grants and other under-served communities has been announced. The commitment runs through 2010 and is the largest of its kind in the mortgage industry. Described as an effort to serve all who aspire to achieve and sustain home ownership, Chase Home Finance has launched the Chase Dream Maker Commitment. Throughthis initiative, the lender has committed $500 billion in mortgage funds to serve under-served markets.It’s projected the program will serve millions of families. In addition to the funds, it is supporting the initiative by expanding its sales foree—with an emphasis on diversity—and opening additional mortgage offices in key marketsacross the country. According to Stephen J. Rotella, chief executive officer of Chase Home Finance, the com- pany has an ongoing, serious com- mitment to meeting the home financing needs of traditionally under-served borrowers. Said Rotella, “By the end of this decade we expect to help millions of families from under- served segments with the American dream of home ownership. This is not our first step, but it’s our biggest step.” The lenderis also investing in the success of the initiative by cre- @ A new $500 billion mortgage program will make The American Dream a reality for African-American, Spanish, Asian, and other under-served families in the U.S. ating a Housing Advisory council comprised of influential leaders from the communities that the commitment is supposed to reach. Those participating in the program will also have access to financial education and counseling programs—in various lan- guages—housing seminars run by community organizations such as the National Urban League, the National Council of LaRaza, Asian Americans for Equality and the Human Rights Campaign. Rotella added that the $500 billion initiative reflects Chase’s commitment to reach out to AfricanAmerican, Asian, Hispanic and gay and lesbian consumers and enable them to become homeowners. Marketing materials have also been created in several languages to ensure that individuals understand the home-buying process in the language with which they are most comfortable. For more information, visit any Chaseoffice, call toll free 1-800678-1051, or visit the Web site at www.chase.com.

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