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DS5: Making Homeownership a Reality for Underserved Communities

DS5 logoIn the most recent episode of DS5: Inside the Industry, our reporter speaks with Miki Adams, President of CBC Mortgage Agency.

Adams discussed the work that her company is conducting to promote low-income access to homeownership through downpayment assistance and advocacy.

The pandemic specifically has affected access to housing and homeownership for low-income Americans and people of color, she says, in part because those demographics also were disproportionately impacted by job and wage loss and were in some cases negatively impacted from the emergence of remote-work.

When you're looking at lower-wage income earners they typically live in households that serve multiple generations of families and that makes working from home much more difficult," she said. "Their ability to work from home has been tremendously limited."

She says CBC Mortgage has implemented two outreach programs including a financial literacy program to prepare for homeownership as well as a program designed for prospective homebuyers who are American Indians living in urban areas. On average, this group has higher rates of overcrowding and related problems compared to other households, she said.

CBC is a tribally-owned, nationally chartered housing finance agency, Adams said.

She covers that and much more in the following episode. Click below, or visit thefivestar.com [1] site for all DS5 broadcasts.