On International Women’s Day, CCM is excited to share it has added yet another positive gender lens component to its fixed income impact investing strategy through customized mortgage pools that are providing capital exclusively to low- and moderate-income women AND minority borrowers. The fourteen loans span 11 states allowing minority women the opportunity for affordable homeownership.
According to a Huffington Post article, homeownership is a unique tool for building wealth in our economy – one that must be accessible to more people if we hope to increase the financial security of low-income Americans. We wrote a white paper in 2017, The Underlying Benefits of Affordable Housing Through Fixed Income Impact Investments, that looked at the correlation of affordable housing with mental, physical, and academic well-being.
According to Garth Rieman, Director of Housing Advocacy and Strategic Initiatives at the National Council for State Housing Agencies, “Affordable housing is not only a roof over somebody’s head. It allows kids to do better in school, for families to stay healthier, for workers to have shorter commutes.”
The Department of Housing and Urban Development (HUD) reviews updated statistics issued by the U.S. Census Bureau on the homeownership rates of minority households. Despite increases in the number of minority families that became homeowners, the census figures show that large differences in rates of homeownership between minority and white households remain and have narrowed only slightly.
Access to capital, specifically the financial markets, is a vital catalyst toward promoting positive change for minority women and their ability to purchase a home. We are thrilled to help further these endeavors and will continue to find new and innovative ways to advance affordable homeownership for women and minorities.