Wells-Fargo and T.D. Jakes Group have recently announced a ten-year partnership, focused towards creating positive and long-term social change in disadvantaged areas of the country. This initiative is centered around revitalizing neighborhoods, as well as expanding access to housing, business services, and financial resourcing to underserved areas.
The mission of the partnership focuses around building healthier neighborhoods, creating pathways to financial stability and independence, providing access to capital for small businesses, and increasing the availability of affordable housing in deprived areas. In light of this, the agreement consists of three pillars, those being portfolio support, purposeful investments and public policy.
Portfolio support consists of providing complex solutions for distressed homeowners, in order to help retain homeownership. This support will look to find ways to reduce mortgage obligations, as well as provide more manageable financing solutions for distressed households.
The purposeful investments will focus on engaging social impact equity capital, as well as merging their existing grant offerings in order to facilitate equitable access to capital. As such, the WF capital grant offering would focus on reviving communities most in need.
Finally, the public policy pillar will aim to advocate for progressive policies that are aimed at offering greater affordable housing around the country. This will focus on bringing about public-private partnerships that should in turn lead to more access points for affordable housing.
In total, the initiative taken by T.D. Jakes Group and Wells-Fargo carries with it the goal of creating a more equitable society, by helping to revive communities that are in need of assistance.
Bullet Points:
– Ten Year Partnership: Aimed at revitalizing neighborhoods and creating long-term change in disadvantaged areas of the country.
– Three Pillars: Portfolio Support, Purposeful Investments, and Public Policy.
– Portfolio Support: Focus on providing complex solutions for distressed homeowners and reducing mortgage obligations.
– Purposeful Investments: Engaging social impact equity capital and their existing grant offerings, aimed at reviving communities most in need.
– Public Policy: To advocate for progressive policy relating to more affordable housing around the country.
You can read this full article at: https://www.housingwire.com/articles/wells-fargo-teams-up-with-dallas-megachurch-to-build-inclusive-communities/(subscription required)
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