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CHCI National Housing Initiative To Help Latinos Achieve American DreamWashington, D.C. – According to recent figures, Hispanics still face significant barriers to achieving the American dream of owning a home. The homeownership rate of 46% for Hispanics continues to lag significantly behind the nation’s overall rate of 68%. In response to this alarming statistic, the Congressional Hispanic Caucus Institute (CHCI), the leading non-profit and non-partisan Hispanic educational organization, launched the National Housing Initiative (NHI). The NHI, a two-year program that will benefit areas with high Hispanic populations, will employ up to 4 mid-career professionals to create and implement specialized housing initiatives for the purpose of increasing homeownership opportunities for Latinos across the country. “Homeownership is one of the best ways we have to help empower families to achieve financial security and communities attain greater stability,” said Congressman Ciro D. Rodriguez, CHCI Chairman. “For this reason, CHCI is proud to launch this exciting and important endeavor to help address the housing needs of Latinos everywhere. It is through an initiative such as this that Hispanics will continue to assume greater leadership roles in all sectors of society as befitting the largest community of color in the country.” The NHI Advisory Committee is comprised of a distinguished panel of congressional offices, corporations, and organizations with an expertise in housing. The committee includes the Office of Congresswoman Nydia Velázquez, Office of Congressman Aníbal Acevedo-Vilá, Fannie Mae, Washington Mutual, Countrywide Home Loans, State Farm Insurance Companies, American CityVista, Cuban American National Council, National Puerto Rican Coalition, National Association of Latino Elected and Appointed Officials, National Association of Hispanic Real Estate Professionals, and National Council of La Raza. In support of NHI’s mission of increasing the rate of Latino homeowners, the committee plans to raise $5 million in the next two years to implement meaningful housing initiatives with measurable results. “I look forward to collaborating and strategizing with lenders, community based organizations, and elected officials who also seek to empower Latinos in their quest to become homeowners,” said NHI Advisory Committee Chairman and Washington Mutual First Vice President Peter Villegas. “The NHI fellowship selection process established by the committee will help us to identify talented housing professionals who will assist in refining and accomplishing the goals of the initiative.” CHCI National Housing Fellowship CHCI’s National Housing Initiative Fellowship Program is available to bilingual (Spanish-English) professionals with a minimum of 8-10 years experience in housing, finance, and/or banking policy, and who have a history of providing direct service to the Latino community. Participants are provided with domestic round-trip transportation to Washington, DC, health insurance coverage, and a $65,000 annual stipend. Applications for the program are currently being accepted, and must be postmarked by June 6, 2003. CHCI, a non-profit and non-partisan educational 501(c)(3) organization, provides leadership development programs and educational services for Hispanic high school, college and postgraduate students. The CHCI Board of Directors is comprised of Hispanic Members of the U.S. Congress, non-profit sector leaders, and corporate executives. For more information on CHCI and its leadership development programs and scholarship awards please visit www.chciyouth.org or call toll-free 1-800 EXCEL DC. ###
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