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CHCI Energizing Efforts to Close Hispanic Homeownership Gap

WASHINGTON, D.C.Today, the Congressional Hispanic Caucus Institute (CHCI), the nation’s premier Hispanic youth leadership development and educational organization, announced the placement of three HOGAR (Hispanic Ownership, a Growing American Reality) Fellows with key leaders in the mortgage industry.

Norma Rodríguez, Jessie Mosqueda and William R. Arce will work closely with Fannie Mae, Option One Mortgage Corporation and the City of Jacksonville Housing Commission (Florida), to address issues and conduct analyses aimed at increasing Hispanic homeownership, currently 49.5 percent versus the national average of 68.6 percent.

HOGAR, Spanish for “home,” is CHCI’s national housing and financial literacy initiative that seeks to ensure Hispanics have equal access to homeownership. HOGAR has three complementary components: consumer education through financial literacy resources; a fellowship program to increase the number of Hispanic professionals in the housing and financial industries; research and policy analyses that address and increase Hispanic homeownership rates.

“Through HOGAR, CHCI is working towards shifting the paradigm of how Hispanics themselves measure wealth - beyond income - to one that includes homeownership equity,” said CHCI President and CEO, Esther Aguilera.

“Norma, Jesse and William have brought to HOGAR exemplary housing experience. With their knowledge, achievement and dedication to the national Hispanic Housing community, CHCI will continue carrying forward its mission – throughout the nation – to educate and increase Hispanic homeownership rates.”

HOGAR Fellows join CHCI for a period of 10 months, part of which is spent in a corporate, government or non-profit setting. Rodríguez, Mosqueda and Arce’s fellowship outplacements will take place in Washington, D.C., California and Florida, some of the fastest growing Hispanic homeownership markets in the country.

About HOGAR Fellows

Norma Rodríguez of Belleville, Michigan, holds a B.A. in Business Management and Marketing from Indiana University. She joins Fannie Mae’s Community and Multi-Cultural Lending Department in Washington, D.C. to develop and implement strategies to help minority borrowers achieve affordable and sustainable homeownership. In particular, Fannie Mae will draw on Norma’s real estate experience to increase service to multicultural markets.

A former partner realtor with Washtenaw Housing Education Partners (WHEP) homebuyer education program, Norma is committed to educating minority communities about homeownership lending practices.

Jessie Mosqueda of Coachella, California, holds an M.A. in Public Policy and Urban Planning from Harvard University. Mosqueda joins Option One Mortgage Corporation in California. He will direct the development of marketing plans for key metropolitan markets; and gather demographic, consumer and loan performance data to help increase Hispanic homeownership rates.

Prior to his HOGAR Fellowship, Mosqueda served as Director of Corporate Initiatives for the National Association of Hispanic Real Estate Professionals (NAHREP) and as Interim Community Services Manager for the Coachella Valley Housing Coalition (CVHC).

William R. Arce, a native of Cuba, is a licensed real estate broker in the State of New York who has helped over 20 Hispanic families become homeowners within a period of two years. Arce, president and founder of http://www.realestatelatino.com/, joins the City of Jacksonville Housing Commission in Florida to develop housing outreach and advocacy programs for the Hispanic and minority communities.

Combating predatory lending and developing anti-foreclosure measures, Arce will create a “One Stop Shop” for housing assistance with integrated re-vitalization strategies in neighborhoods where the city develops infill housing. Additionally, he will identify best practices for housing counselors; and assist in the creation of bilingual guides providing information about local homeownership programs.

HOGAR’s outplacements coincide with CHCI’s 2006 Hispanic Heritage Month Public Policy Conference and 29th Annual Gala, to be held in Washington, D.C., October 2- 4.
Conference sessions will feature Members of Congress leading best practices discussions in housing, banking, finance, small business, capital markets and wealth creation.

About CHCI
CHCI is the premier Hispanic nonprofit and nonpartisan 501(c)(3) leadership development organization in the country that educates, empowers, and connects Latino youth by providing leadership development programs and educational services. CHCI directly impacts the lives of more than 1,700 students and young professionals each year through its fellowships, congressional internships, scholarships, Ready to Lead (R2L®) college readiness program, and R2L NextGen program. CHCI NextOpp is its latest resource allowing young Latinos to save, search and share life-changing opportunities for Latinos across the United States.

The CHCI Board of Directors is comprised of Hispanic members of Congress, nonprofit, union and corporate leaders. Visit www.chci.org, or join us on Facebook, Twitter , LinkedIn, YouTube, and Instagram.

Media Contact:
Scott Gunderson Rosa: (202) 548-5876