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JPMorgan Chase Takes New Steps to Address Affordability Gap
JPMorgan Chase on Wednesday announced new steps to address the housing affordability gap as part of its $30-billion commitment to help advance racial equity and drive an inclusive recovery. Among the new measures is a five-year, $400-million philanthropic commitment that includes low-cost loans, equity and grants targeted to nonprofits and organizations in the affordable housing space.
Chase is expanding its traditional home lending advisor network to include a new job called “Community Home Lending Advisor,” which is designed to be located in minority and low-to- moderate income communities.
Additionally, the JPMorgan Chase PolicyCenter will partner with policymakers and community leaders to advance data- and evidence-based solutions to tackle housing challenges.
“We’re trying to address some of the barriers to affordable housing and homeownership to help provide family stability and build generational wealth for Black and Latinx families,” said Chase chairman and CEO Jamie Dimon.
- ◦Financing
