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$153 Billion is invested in mortgage to minority and lower-income households |
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Thursday, 21 September 2006 |
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JPMorgan Chase & Co. announced that it has invested $153 billion in mortgages to minority and lower-income households, loans to small businesses, and community development loans and investments in 2004 and 2005—the first two years of its 10-year, $800 billion commitment.
During 2004 and 2005 combined, Chase made loans and investments in low- and moderate-income families and neighborhoods and small businesses totaling: • $122 billion in mortgages. The 2005 total of $67.7 billion reflects a 24.2% increase from 2004. • $22 billion in small businesses. The 2005 total of $12.1 billion reflects an 11% increase from 2004 • $8 billion in community development. The 2005 total of $4.0 billion reflects a 3% decline from 2004 "We continue to provide leadership and innovative financing to community development banking markets, and have been able to harness the financial expertise of our firm by delivering products as varied as new markets tax credits to syndicated construction finance to affordable mortgages," said Mark Willis, community development executive.
Edwina Baniqued
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Real Estate News 