Mortgage Policy Advisors Applauds HomeFree-USA’s Mission to Reduce the Racial Wealth Gap
New Initiative with Historically Black Colleges and Universities is a Key Strategic Addition
WASHINGTON, DC, June 17, 2021 — Mortgage Policy Advisors LLC (“MPA”) reaffirms its support of HomeFree-USA’s multi-pronged campaign to reverse the widening racial wealth gap in the United States. HomeFree-USA, a nonprofit based in Riverdale, MD and its affiliated faith- and community-based nonprofits in urban markets throughout the country, has been working hard for over 26 years to provide underserved communities guidance on homeownership and access to mortgage credit, as well as increasing the supply of affordable housing. More recently, HomeFree-USA initiated its Center for Financial Advancement®, a unique collaboration with Historically Black Colleges and Universities (“HBCUs”).
Marcia Griffin, President and CEO of HomeFree-USA, said “Acquiring home equity is the entry ticket for upward mobility and wealth-building in this country. Yet homeownership in communities of color currently is at the lowest point in a generation. We are proud of our work as a HUD-certified counseling intermediary over the years. We are redoubling our efforts now to reduce the appalling wealth gap, particularly as it so disproportionately impacts black and brown people.”
In addition to its exemplary pre- and post-purchase counseling, HomeFree has been a leader in increasing the supply of affordable housing for low-to-moderate income neighborhoods in need. “The shortage of reasonably priced, quality single- and multi-family housing units has reached critical levels nationally,” said HomeFree COO James Griffin. “Through our Project Rebound and private-public strategic partnerships, we are on the ground rehabilitating homes for purchase, block by block, neighborhood by neighborhood, city by city.”
“It’s truly been a privilege to work with Marcia, Jim and the HomeFree team” said Paul Koches, CEO of MPA, a financial services business, regulatory and policy consulting firm. “They are smart, resourceful and passionate. With their new initiative bringing HBCU student scholars opportunities in the financial sector workplace, HomeFree rounds out an impactful strategy to redress systemic racial exclusion and inequality in our economy.”
About Mortgage Policy Advisors, LLC
Mortgage Policy Advisors, LLC (“MPA”) was formed in 2014 by CEO Paul Koches, an attorney with over 35 years experience in regulatory, corporate, transactions and finance practice. MPA provides consulting services on business strategy and policy matters in the financial services sector. Prior to founding MPA, Mr. Koches held executive positions in a leading mortgage servicing company, serving as General Counsel and then Senior Advisor for Government and Community Relations, and before that was partner in a large Washington DC-based law firm.
About HomeFree-USA / Center for Financial Advancement®
HomeFree-USA is an African American-founded nonprofit started by Marcia and Jim Griffin in 1994 with a vision to close the wealth gap by giving African-Americans the guidance they need to achieve and sustain homeownership. As a HUD-intermediary, HomeFree-USA serves the diverse interests of 6.2 million consumers through its nationwide network of 50-plus affiliated, community-based, nonprofits that specialize in guiding people to first-time homeownership, homeownership sustainability, and increased financial capacity.
HomeFree-USA launched the Center for Financial Advancement® (CFA) as a solution to the industry’s call for more diversity. HomeFree-USA partners with, trains, and provides students from Historically Black Colleges and Universities (HBCUs) opportunities for externships, internships and full-time jobs in partnering mortgage and real estate finance companies. Participating CFA Scholars are exposed to credit, money management, leadership development, and homeownership, creating the next generation of leaders and homeowners. For more information, visit homefreeusa.org/cfa.
Media Contact Information
Mortgage Policy Advisors: Paul Koches, (561) 308-2335
HomeFree-USA: Christine Gould, (301) 891-8403