Housing Opportunities Made Equal of Virginia Inc. (HOME) and Wells Fargo Bank announced on Monday a partnership agreement aimed at increasing homeownership opportunities and expanding mortgage lending for African-Americans and African-American neighborhoods in the Richmond area.
The partnership provides for more than $4 million in financial support to HOME. It was described as one of the largest agreements ever between a financial institution and an individual fair housing organization.
“Differences in homeownership between African-Americans and white Americans are the foundation of wealth inequality in Richmond and across the country, and HOME is committed to rooting out these differences in opportunity to reduce racial gaps and inequities and build a strong middle class,” Heather Crislip, president and CEO of HOME, said in a statement.
