In an effort to address the home ownership gap. Washington Mutual has committed to allocating money back into the African American community.
This allocation of funds gives an African American borrower (s) up to $4,500.00 off towards their closing cost at Washington Mutual.
Once a loan has been approved, the funds will be used as a gift and DOES NOT have to be repaid. All down payment assistance programs can be used in conjunction with this gift from Washington Mutual.
For more information contact
Spencer J. Holman
Business Development Director
African American & Emerging Markets, Inland Empire
Certified Mortgage Planner
Business email: firstname.lastname@example.org
National Leader: "Magic is in the House"
In September 2002, JDC led by entrepreneur Earvin Magic Johnson, joined forces with Washington Mutual to make the dream of ownership a reality in the nation's underserved communities by opening home loan centers and community fulfillment centers in these areas.
To date, JDC and Washington Mutual have opened 15 centers dedicated to helping people build wealth, achieve their financial goals and realize the dream of home ownership in Los Angeles, New York City, Chicago, Washington, D.C., and Atlanta.Through our five-year partnership with Washington Mutual, we will open another 18 additional locations across urban America.
Johnson cites the reason his corporation chose to team wth WaMu. "A lot of other financial institutions came our way, but they didn't care about the customer. They weren't going to be fair. And they didn't know how to think outside the box like WaMu."
"We know the urban market and we know the customer," says Johnson. "They trust the major brands, and WaMu is the best at putting people into homes. That's why we have come together- to give under-served communities the Power of Yes."
"WaMu is clearly recognized as an industry leader in affordable lending, and I am proud to be associated with such a quality company and brand," says Johnson.
Community Leader: "Spencer for Hire"
In March 2004, Spencer Holman and his community specialist group joined our Riverside team of professionals at Washington Mutual. Spencer's solid foundation and dedication with real-estate agents, churches, politicians and local groups help our efforts to deepen our relationship with the local African American community and ensure we have complete grass-roots support and maintain grass-roots involvement.
Last year Spencer conducted over 70 Homebuying Seminars and Financial Literacy Workshops for churches, schools, major corporations and non-profit organizations. His column in the Black Voice Newpaper was the most highly read of all financial columns and he sits on the board of 7 community organizations including the NAACP where he holds the positions of Housing Committee Chairman and Economic Development Chairman.
"My new position as Inland Empire Business Development Director at Washington Mutual gives me more flexibility and power to support the community I have dedicated my life to serving," says Spencer.
Leaving my former company was a huge step for me but what really helped me make my decision was seeing Washington Mutual's total dedication to the community with the JDC partnerhip and their flexible programs. I need a company willing to understand the unique needs and challenges of the people I serve and Washington Mutual stepped up to the plate.