Supporting low- and moderate-income families, communities and small businesses, Chase has invested more than $338 billion in the first four years of its 10-year, $800 billion commitment, the company says.
‘Helping families buy a home they can afford over the long term remains a crucial part of our commitment to communities,’ says Charlie Scharf, CEO of Retail Financial Services. ‘We have helped buyers better understand the responsibilities they are taking on and we have helped many homeowners facing financial challenges.’
In 2004, parent company JPMorgan Chase pledged to invest $800 billion over 10 years in communities across the country, which continues to be a major commitment to community development lending and economic development. Chase already has invested 42% of the $800 billion, including an investment of $258 billion in mortgages in low and moderate-income neighborhoods and to lower-income and minority borrowers
Chase supports families and communities through a broad range of programs, including its Homeownership Preservation Office, which the company says helps families stay in their homes whenever possible by connecting homeowners with counselors through a national help line and by leading foreclosure-prevention workshops and local training programs for community leaders, housing advocates, public officials and investors.
Part of Chase's $800 billion commitment will continue to be directed to small-business lending and community development lending and investment.
SOURCE: Chase