Expand Your Education with These Courses from
ACE: Purchase Reverse Mortgage Course.
Expand your education through NAR’s REALTOR® University: A Consumer Advocate Approach to Mortgages: Course 2.
Effective Presentation Skills for Sales Professionals: Skills for Sales Success: Part Five.
A Consumer Advocate Approach to Real Estate: Course 1.
Territory Management: Skills for Sales Success: Part Eight.

JPMorgan Chase Invests $241 Billion in Low- and Moderate-income Families, Communities and Small Businesses

Have a comment on this article? Share on Facebook!

RISMEDIA, August 21, 2007—JPMorgan Chase has announced that it has invested more than
$241 billion in low– and moderate-income families, neighborhoods and small businesses across the country in the first three years of its 10-year, $800 billion commitment.

“Our loans and investments provide the capital that is essential to low- and moderate-income families and communities,” said Charlie Scharf, chief executive officer of Retail Financial Services.  “Our bankers and loan officers work hard in low- and moderate-income neighborhoods to help businesses grow and families buy homes.”

From 2004 through 2006, Chase has achieved 30% of its 10-year goal by generating strong results in three areas crucial to American families and cities: 

- $188 billion in mortgage lending in low- and moderate-income neighborhoods and to lower-income and minority borrowers
- $40 billion in small business lending, and   
- $12 billion in community development lending and investment. 

“We are proud of our ability to deliver financial expertise – and concrete solutions — from across our firm to help strengthen our communities,” said Mark Willis, Community Development executive.  “We work with community leaders to understand what is important to them.”

Chase has supported communities through a broad range of programs, including two that warrant special attention:

- Certified Community Development Institutions:  Chase has loaned and invested more than $440 million in certified Community Development Financial Institutions since 2004. These intermediaries help Chase extend its reach exponentially in low- and-moderate income communities.
- Chase’s Homeownership Preservation Office: Created in 2004, the Office works with community leaders, housing advocates, public officials and investors to help homeowners stay in their homes.

The Office provides:

- A toll-free hotline for non-profit community groups providing in-depth counseling to Chase mortgage customers who are delinquent or at risk of foreclosure
- Foreclosure-prevention workshops for non-profit counselors.  Chase has trained more than 1,800 staff members of community groups through 50 sessions
- Local market initiatives aimed at foreclosure prevention
- A targeted program to donate or sell distressed properties at reduced prices, in designated areas, to community groups and non-profit housing providers
- The Homeownership Preservation Office has worked on industry-wide foreclosure prevention initiatives in Chicago, Atlanta, Detroit, New York City, Indianapolis, Dallas and Houston as well as Colorado and Ohio.

For more information, visit www.chase.com.

Want instant access to great articles like this for your blog or newsletter? Check out our 30-day FREE trial of REsource Licensed Real Estate Content Solutions. Need easy stay-in-touch e-Marketing solutions too? Try Pop-a-Note for 99 cents!
Join RISMedia on Twitter and Facebook to connect with us and share your thoughts on this and other topics.

Copyright© 2014 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.

Content on this website is copyrighted and may not be redistributed without express written permission from RISMedia. Access to RISMedia archives and thousands of articles like this, as well as consumer real estate videos, are available through RISMedia's REsource Licensed Content Solutions. Offering the industry’s most comprehensive and affordable content packages. Click here to learn more! http://resource.rismedia.com