The Asian Real Estate Association of America (AREAA) Unveils Collaboration with Wells Fargo Focused on Reducing Homeownership Barriers Faced by Asian Americans
- Wells Fargo's collaboration with AREAA aims to advance sustainable homeownership for first-time homebuyers in AANHPI communities
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Three-Part Program Helps First-Time AAPI Home Buyers Become Mortgage Ready
According to recent data, the Asian American homeownership rates in the middle- and lower-income levels are far below equal-earning non-Hispanic Whites and comparable to those of the Black and Hispanic communities.
The Wells Fargo-AREAA alliance includes a Housing Affordability Symposium and regional events across the
“Owning a home is a primary driver of economic security and the cornerstone of the American Dream, yet access to affordable housing is a significant challenge in communities across the country,” said Kurt Nishimura, President of AREAA. “We appreciate Wells Fargo’s timely investment to help people achieve and sustain homeownership.”
“This year, AREAA’s priority is housing affordability. We are proud to be working with AREAA to advance racial equity in home buying and provide Asian Americans with the resources they need to become mortgage ready and achieve the American dream,” said Valeria Esparza-Chavez, Head of Home Lending, Asian Segment at Wells Fargo. “We are committed to being a part of the solution and breaking down the systemic barriers that make homeownership more difficult to attain.”
About Wells Fargo:
Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately
About AREAA:
Founded in 2003, the Asian Real Estate Association of America (AREAA) is a national nonprofit trade organization with more than 18,000 members dedicated to improving the lives of the Asian American, Native Hawaiian, and Pacific Islander (AANHPI) community through homeownership. Visit areaa.org for more information.
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Tiffany Woo
IW Group for Wells Fargo
Tiffany.Woo@IWGroupInc.com
Alfredo Padilla
Alfredo.padilla@wellsfargo.com
Source: Asian Real Estate Association of America