(NNPA)—After weeks of bad press, Wells Fargo received an award acknowledging their efforts to diversify homeownership.
The Mortgage Bankers Association (MBA) presented Wells Fargo Home Lending with their inaugural Diversity and Inclusion Award on Thursday, Nov. 17 during its third annual Summit on Diversity and Inclusion at the Capital Hilton in Washington, D.C.
Franklin Codel, the executive vice president of Wells Fargo’s Home Mortgage division said that sustainable homeownership stands near and dear to his heart.
“The last couple of weeks hasn’t been good for Wells Fargo, we have to acknowledge that” Codel said. “It means a lot to be recognized in this way. We do it because it’s the right thing to do for our community and customers.”
“All of you know that homeownership is very important to individuals, communities and the country,” he said. “There is no doubt in my mind that homeownership is still the way to build wealth for families.”
Codel claimed that Wells Fargo Home Lending success comes from going into communities and dispelling myths about what it takes to own a home.
“The myths that are out there are very, very real,” he said. “Very often we find that the belief is that you have to have perfect credit, a 20 percent down payment and a much higher income.”