What is HomeFree-USA?
Founded in 1994 by Marcia and Jim Griffin, HomeFree-USA emerged from a vision to close the persistent homeownership gap. Leveraging Jim Griffin's experience as the owner of National Loan Service Center, the largest African American mortgage servicing company, the organization was established to combat the high rates of default observed among minority borrowers. Over 26 years, HomeFree-USA has evolved into a significant intermediary, connecting government entities, the real estate finance industry, and consumers. Through its national network, the company has empowered 6.3 million consumers, facilitating the creation of new homebuyers, fostering sustainable homeownership, promoting affordable housing solutions, and contributing to the revitalization of communities.
How much funding has HomeFree-USA raised?
HomeFree-USA has raised a total of $1.4M across 2 funding rounds:
Debt
$150K
Grant
$1.3M
Debt (2020): $150K with participation from PPP
Grant (2024): $1.3M led by Wells Fargo and TD Jakes Foundation
Key Investors in HomeFree-USA
Wells Fargo
Wells Fargo is a leading U.S. financial services firm providing banking, lending, investment, and mortgage solutions. Known for its extensive branch network and diverse product offerings, the company maintains a significant market presence while navigating regulatory and reputational challenges in the evolving financial sector.
TD Jakes Foundation
The T.D. Jakes Foundation is dedicated to empowering individuals and transforming communities by providing access to education, financial inclusion, and community well-being initiatives. Their programs focus on educational access and workforce readiness, financial education, and holistic community transformation. They aim to support underinvested communities and individuals with limited access to resources and opportunities. The foundation seeks partnerships and collaborations to further their mission of creating equitable access and improving lifelong outcomes.
PPP
Public-Private Partnership
What's next for HomeFree-USA?
The recent major strategic investment signals a new phase of growth and expanded impact for HomeFree-USA. This capital infusion is expected to bolster its intermediary network and enhance its capacity to provide crucial guidance for aspiring and current homeowners. The focus on strategic partnerships suggests an acceleration of initiatives aimed at increasing access to sustainable homeownership, particularly for underserved communities. HomeFree-USA is poised to deepen its influence in bridging the divide between consumers and the broader real estate finance ecosystem, reinforcing its commitment to long-term community development and financial empowerment.
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