For many Americans, owning a home is an effective tool for building household — and generational — wealth. Yet not all Americans have shared in this prosperity. Historical and systemic barriers to homeownership have long stood in the way of households of color, resulting in significant racial disparities in homeownership and neighborhood disinvestment that persist nationwide. With rapidly increasing house prices and interest rates, more innovative and strategic programs are needed to narrow the racial homeownership gap.
As a follow-up to the 2022 webinar series, Advancing Homeownership Opportunity to Narrow Racial Disparities, the Federal Reserve Bank of Philadelphia, the Urban Institute, and the Penn Institute for Urban Research will provide an update on strategies for expanding homeownership opportunities for lower-income households and households of color.
This virtual event on September 14 will feature a distinguished panel, who will discuss recent innovations, including:
- mortgage underwriting that considers rental payment history;
- downpayment assistance programs;
- special purpose credit program by a major bank;
- lease-to-purchase programs; and
- community land trust programs.
Panelists will also discuss ways that stakeholders can better leverage these programs locally and address potential gaps.
- Stacey Shifman, Senior Director, Single-Family Analytics and Modeling, Fannie Mae
- Chuck Bishop, Head, Home Lending Diverse Segments, Wells Fargo
- Nicole Montecalvo, Chief Capital Officer, Home Partners of America
- George W. McCarthy, President and CEO, Lincoln Institute of Land Policy
- Robin Wiessmann, Executive Director and CEO, Pennsylvania Housing Finance Agency
- Laurie Goodman, Institution Fellow, Housing Finance Policy Center, Urban Institute
- Susan Wachter, Albert Sussman Professor of Real Estate, Professor of Finance, and Codirector, Penn Institute for Urban Research
Download the agenda.
Who should attend
This event is for community development practitioners, government officials, financial institutions, researchers, and others who are working to expand homeownership opportunities for underserved groups.
There is no cost to attend this webinar, but registration is required.
Please direct questions to Lei Ding, Lei.Ding@phil.frb.org.