Conference of Mayors teams up with Wells Fargo to prevent foreclosures
The United States Conference of Mayors and Wells Fargo (WFC) recently entered into a strategic partnership to promote homeownership and advocate foreclosure prevention. The alliance will help the mayors get involved in housing issues and lead a variety of community outreach initiatives to improve the housing market. The alliance will focus of foreclosure prevention, property disposition, homeownership promotion and community development. "With the challenges facing our nation, it's important that the private and public sectors work together on options that address each city's respective needs," said Tom Cochran, chief executive officer and executive director of the U.S. Conference of Mayors. "Wells Fargo and our members share a deep-rooted commitment to sustainable homeownership. We'll do good work together that will benefit our joint communities." The alliance is slated to last three years and includes a series of regional forums, where the mayors will meet with Wells Fargo executives to discuss housing issues and address market challenges, Cochran said. There are three regional forums scheduled for every year of the alliance. The Wells Fargo Way Home program, a national effort to prevent foreclosure and stabilize communities, will be key in achieving the partnership's goals, according to the organizations. The U.S. Conference of Mayors is a nonpartisan organization involving mayors from more than 1,200 cities with a population of 30,000 or more. Write to Christine Ricciardi. Follow her on Twitter @HWnewbieCR.