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Closing the Gap on Minority Homeownership

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RISMEDIA, March 16, 2007-Fidelity National Financial, Inc. (FNF) announced the expansion of their Multicultural Marketing Program into San Joaquin and Sacramento counties in California. The program, led by the company's Multicultural Marketing Division, is a continuing effort by FNF, one of the nation's leading providers of title insurance, specialty insurance and claims management services, to close the home-ownership gap for Latinos, Asians, and African-Americans.

According to 2004 U.S. Census statistics, minority home-ownership rates in California are below the national average. The Latino home-ownership rate in California is at 44%, the Asian-American home-ownership rate is at 55.4%, and the African-American home-ownership rate is at 38.8%. Nationally, the home-ownership rates are 50% for Latinos (U.S. Census 2006), 58.6% for Asian-Americans and 49% for African-Americans. In San Joaquin County the minority home-ownership rates are at 47% and 48% in Sacramento County according to the U.S. Census 2000 data.

"It's almost been a year since FNF officially launched the Multicultural Marketing Program in the Bay Area and we are pleased to bring the program to the Central Valley," said Pablo Wong, Senior Vice President of Market Development for FNF. "By expanding our events and initiatives here in the Central Valley, and then to more regions throughout California and across the nation, we hope to make big strides in closing the home-ownership gap for Latinos, Asians and African-Americans."

To kick off the expansion in Sacramento and San Joaquin counties, FNF will hold educational events for real estate professionals in Stockton and Sacramento. Under the theme, "A Celebration of Homeownership and Culture", the event provides real estate professionals with information on marketing strategies, tools and resources to assist their multicultural customers. Similar events have launched in cities throughout the Bay Area and Central California.

"Thanks to companies like FNF, there are now more expertise and resources available for the Latino, Asian and African-American home buyers," said Allen Okamoto, Asian Real Estate Association of America (AREAA) President.

"Education is the first step to providing better service for today's diverse home buyers," said Hector Ontiveros, founder of the Solano County Chapter of the National Association of Hispanic Real Estate Professionals (NAHREP). "I applaud FNF's continuing commitment to bring reliable information and guidance to real estate professionals as well as to the Latino, Asian and African-American communities we serve."

For more information, visit http://www.fnf.com.

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