Chase Home Finance Partners With NAHREP to Increase Hispanic Homeownership through Mortgage...

Chase Home Finance Partners With NAHREP to Increase Hispanic Homeownership through Mortgage Discounts and Educational Programs



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Edison, NJ–(HISPANIC PR WIRE)–September 30, 2004–Demonstrating a commitment of meeting the needs of aspiring Hispanic homebuyers, Chase Home Finance and the National Association of Hispanic Real Estate Professionals (NAHREP) announced a partnership to provide discounted and flexible products, dedicated bilingual mortgage specialists and educational seminars and counseling for NAHREP members and their customers.

The partnership includes a closing cost rebate from Chase to individuals purchasing homes through NAHREP real estate professionals. Chase loan officers will provide quarterly training and education to local NAHREP chapters to offer a better understanding and establish direct access to the broad range of Chase home finance solutions for consumers. Additionally, Chase will offer an exclusive financial counseling service for NAHREP customers who need to clean up their finances before applying for a mortgage. More than 12,000 NAHREP members will benefit from these services.

Chase Home Finance will invest significantly in this partnership and will be the official sponsorship of NAHREP’s upcoming 2004 Hispanic Marketing Convention & Expo. At the largest real estate convention dedicated to the Hispanic market, more than 3,000 Hispanic real estate professionals will attend this year’s convention in Denver, Colorado on October 2-5.

“Chase Home Finance is an innovator and a market leader with a wide variety of products and services relevant to the Hispanic community,” said Gary Acosta, Chairman of NAHREP. “I believe that our NAHREP members will greatly benefit from this partnership.”

Between 1994 and 2001, Hispanic homeownership grew at a rate of 16.7 percent, while non-Hispanic homeownership grew at 6.6 percent. The growing Hispanic population, which is currently the largest minority in the United States, demonstrates an ongoing need to educate this community about homeownership and accessibility.

“NAHREP has done an exceptional job over the years to build a strong network of Hispanic real estate professionals who are committed to increasing homeownership in the Hispanic community,” said Paul Mullings, Senior Vice President and Fair Lending Executive at Chase. “With this partnership, we hope to continue to meet the needs of this dynamic market and help Hispanic families nationwide achieve the dream of homeownership.”

In January 2003, JPMorgan Chase & Co. announced the Chase Dream Maker CommitmentSM, an unprecedented $500 billion pledge to provide home financing opportunities to Hispanics and other historically under-served segments nationwide. This new partnership with NAHREP will provide a meaningful way to deliver on this pledge.

The National Association of Hispanic Real Estate Professionals (NAHREP) is a nonprofit trade association committed to increasing the Hispanic homeownership rate by empowering real estate professionals that serve Hispanic consumers. Founded in 1999, NAHREP has more than 33 regional and local affiliates and members in 44 states. Information about NAHREP is available at http://www.nahrep.org and http://www.realestateespanol.com.

With the recent merger of JPMorgan Chase & Co. and Bank One Corp., Chase Home Finance’s parent company now includes more than 2,400 Bank One and Chase bank branches in 17 states. Chase Home Finance, an Equal Housing Lender, is headquartered in Edison, New Jersey and is one of the nation’s largest residential mortgage lenders, servicing more than four million customers through 600 branch-based offices.

JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $1.1 trillion and operations in more than 50 countries. The firm is a leader in investment banking, financial services for consumers and businesses, financial transaction processing, asset and wealth management, and private equity. Information about the firm is available on the Internet at http://www.jpmorganchase.com.

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CONTACT:

J.P. Morgan Chase & Co.

Judith B. Miller; Media Relations

270 Park Avenue, New York, NY 10017

212-270-7171

or

The Vidal Partnership

Brenda C. Mendoza; Public Relations

(646) 356-6614

Chase Home Finance Partners With NAHREP to Increase Hispanic Homeownership through Mortgage Discounts and Educational Programs