California Homeownership Preservation Initiative Recognized for its Important Impact at the 2010 Community Reinvestment Awards

The 2010 Community Reinvestment Awards recognized the California Home Ownership Preservation Initiative (CHOPI) with an honorable mention for its important impact on California in its work to bring together financial institutions, foundations, and nonprofit organizations to increase access to services and improve outcomes for Californians facing foreclosure.

Sponsored by the Federal Reserve Bank of San Francisco, the Community Reinvestment Awards program honors financial institutions for their part in seeking ground-breaking solutions to the challenges of lower-income communities. Nominations are judged for their innovation, partnerships, and impact. CHOPI was honored during the awards program at the National Interagency Reinvestment Conference on March 16th.

In response to the state’s foreclosure crisis, CHOPI was launched in 2008 as a two-year, $5.3 million program to expand the availability of foreclosure intervention services. Since then, CHOPI has helped provide foreclosure counseling to nearly 47,500 low- and moderate-income homeowners in 50 counties. Through the efforts of 40 partner organizations, 6,681 foreclosures have been prevented, many of these in communities of color, rural areas, or immigrant communities. The initiative broke new ground as an innovative partnership to increase the number of people educated and equipped to save their homes. Visit our Community Development page to learn more about CHOPI.

For more information, please visit our Community Development Program page.