00:00It's Benzinga, bringing Wall Street to Main Street
00:02JPMorgan Chase announced Monday that it will invest $750 billion through 2035
00:08to expand the U.S. housing supply under its American Dream initiative, according to CBS News.
00:14The bank said the commitment includes financing for 1 million affordable housing units and helping
00:18500,000 people, including 200,000 first-time buyers, purchase homes.
00:23JPMorgan said the investment represents a 40% increase in housing capital deployment compared
00:28with the previous decade. The bank plans to increase mortgage lending by more than 40%,
00:33hire 850 home lending advisors, and develop new loan products for modular and manufactured homes.
00:39It also plans to work with states and local communities to streamline zoning and building
00:43codes while expanding tax credits and public-private partnerships. For all things money, visit Benzinga.com.
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