Empowering the
Latino Community
Latino Community
In 2014, the National Association of Hispanic Real Estate Professionals (NAHREP®) established the Hispanic Wealth Project™ (HWP), an initiative born in the wake of the Great Recession, when Latinos lost up to two-thirds of their median household wealth.
ABOUT
Mission
It was then that the organization set the audacious goal to triple Hispanic household wealth by 2024. To guide that goal, the HWP produced a blueprint outlining three primary areas of focus, along with a series of targeted component goals for building wealth: increasing homeownership, scaling small businesses, and diversifying investments.
The Hispanic Wealth Project is a non-profit whose mission is to financially and educationally empower the Hispanic community in America.
PROJECT APPROACH
& FRAMEWORK
The Hispanic Wealth Project fosters a national dialogue around issues affecting the creation and retention of wealth for Hispanic households. The Project drives change through initiatives that set forth an actionable plan to address the requirements we set to achieve the Project’s goals.
Of course, we don’t hold a monopoly on good ideas, nor do we alone represent the resources that must be marshaled to define and support the breadth of initiatives that will, in aggregate, triple Hispanic household wealth over the next ten years. We therefore distinguish between NAHREP-recognized initiatives and NAHREP-driven initiatives, and offer a place for each within the Project context.
NAHREP-driven initiatives will leverage resources and commitments from key sponsors.
These NAHREP-driven initiatives will arise from a targeted focus on one or more of the requirements for a stated Project goal, and will be monitored continuously for their measurable contributions to a tripling of Hispanic household wealth over the next ten years.
TEN-YEAR GOALS
REAL ESTATE
BUSINESS OWNERSHIP
ASSET PROTECTION
The Hispanic Wealth Project aims to reduce the proportional wealth gap between Hispanic and non-Hispanic White households by 50% by 2034. To guide this goal, the HWP has identified the following component goals as targeted areas of focus:
- Increase the number of Hispanic-owned employer firms to 600,000 or greater.
- Triple the investment allocation of VC funding to Hispanic founders.
- Increase the share of Hispanic households with a will or trust to 30% or greater.
- Increase the share of individuals in the NAHREP network with an estate plan to 75% or greater.
- Maintain a Hispanic homeownership rate of 50% or greater.
- Increase the number of Hispanic owner-households to 11.5 million.
- Increase the rate of Hispanic investment property ownership by 25%.
- Double the share of Hispanic real estate and mortgage professionals in the industry.
FINANCIAL ASSETS
- Increase the share of Hispanic households owning non-cash financial assets (e.g., stocks, bonds, mutual funds, 401k accounts) to 50% or greater.
- Increase the share of Hispanic financial planners and investment professionals by 30%.
The Hispanic Wealth Project focuses on programs, policies and initiatives that are critical to its mission to financially and educationally empower the Hispanic community in America, including:
- Increase current Hispanic homeownership rates
- Elevate sustainability in advancing homeownership outcomes
- Promote Hispanic access to market-rate mortgage financing
- Examine population migration patterns and housing stock alignment
- Encourage outreach by U.S. financial service provides to Hispanic communities
- Reimagine the delivery of traditional financial services in contexts and through programs that align with the cultural, geographic, employment and transactional patterns of Hispanic households
- Promote education in Hispanic communities to increase awareness of asset diversification and investment options, including participation in employer-sponsored 401(k) programs
- Foster Hispanic entrepreneurship
- Provide investment capital and financing to incubate Hispanic start-ups
- Structure training and mentorship programs that support Hispanic entrepreneurs
- Showcase Hispanic entrepreneurial “success stories” to highlight Hispanic icons across a broad representation of the U.S. economy
PROGRAMS, POLICIES
&
&
INITIATIVES
PILLARS
Asset
Protection
Protection
Real
Estate
Estate
Business
Ownership
Ownership
Asset
Ownership
Ownership
Sara Rodriguez is the CEO/Owner of Titan Title and a partner at Mendez Rodriguez, PLC. Her practice specializes on all matters related to residential and commercial real estate transactions. She served as 2016 President of NAHREP Northern Virginia and has served on the chapter’s board of directors since 2013 in various leadership roles. Additionally, she serves as a national chapter coach.
Since 2005, Mrs. Rodriguez has taught DPOR approved courses through various
state-licensed schools in both English and Spanish. She also teaches Continuing Legal Education (CLE) for the National Business Institute in Virginia. Mrs. Rodriguez has appeared as a speaker at multiple events and conventions speaking on a multitude of real estate issues including contract, short sales and foreclosures. She was admitted to the Virginia Bar in 2003 and has practiced immigration law, family law and real estate law.
Since 2005, Mrs. Rodriguez has taught DPOR approved courses through various
state-licensed schools in both English and Spanish. She also teaches Continuing Legal Education (CLE) for the National Business Institute in Virginia. Mrs. Rodriguez has appeared as a speaker at multiple events and conventions speaking on a multitude of real estate issues including contract, short sales and foreclosures. She was admitted to the Virginia Bar in 2003 and has practiced immigration law, family law and real estate law.
Gary Acosta is the Co-Founder & CEO of the National Association of Hispanic Real Estate Professionals (NAHREP®). NAHREP is the nation’s largest Hispanic business organization with over 40,000 members and 100 local chapters. In his capacity as CEO of NAHREP, he created the Hispanic Wealth Project, a 501(c)3 non-profit organization with a strategic plan to triple Hispanic household wealth by 2024. In 2018, Mr. Acosta co-founded L’ATTITUDE, a mega-event that celebrates the achievements of the Latino community in business, entertainment, and politics.
Mr. Acosta has also founded or co-founded several mortgage, real estate and technology companies including New Vista Asset Management, CounselorMax, and RealEstateEspanol.com. In 2013 he co-founded The Mortgage Collaborative, a cooperative of mortgage companies who work together to increase profitability and market share.
Mr. Acosta is a former appointee of the consumer advisory board (CAB) of the Consumer Financial Protection Bureau (CFPB), the federal agency responsible for regulating consumer protection in the financial services industry. He served as 2014 chairman of the CAB mortgage committee.
In 2012, the Mortgage Bankers Association of America awarded him with their prestigious “Investing in Communities” annual award. REALTOR® Magazine named him one of the 25 Most Influential People in real estate, and Hispanic Business Magazine named him one of the 100 Most Influential Hispanics in America.
Mr. Acosta is a former member of the board of directors of the Mortgage Bankers Association of America. He has also served on advisory boards for several Fortune 500 companies including Fannie Mae, Freddie Mac and JP Morgan Chase. Mr. Acosta grew up in Montebello, California and received his education from the University of California, at San Diego and Pomona College, where he played varsity basketball for future Hall of Fame Coach, Gregg Popovich. He writes a widely read blog on the economy, politics, sports and Latino culture. Mr Acosta lives with his family in San Diego, California.
Mr. Acosta has also founded or co-founded several mortgage, real estate and technology companies including New Vista Asset Management, CounselorMax, and RealEstateEspanol.com. In 2013 he co-founded The Mortgage Collaborative, a cooperative of mortgage companies who work together to increase profitability and market share.
Mr. Acosta is a former appointee of the consumer advisory board (CAB) of the Consumer Financial Protection Bureau (CFPB), the federal agency responsible for regulating consumer protection in the financial services industry. He served as 2014 chairman of the CAB mortgage committee.
In 2012, the Mortgage Bankers Association of America awarded him with their prestigious “Investing in Communities” annual award. REALTOR® Magazine named him one of the 25 Most Influential People in real estate, and Hispanic Business Magazine named him one of the 100 Most Influential Hispanics in America.
Mr. Acosta is a former member of the board of directors of the Mortgage Bankers Association of America. He has also served on advisory boards for several Fortune 500 companies including Fannie Mae, Freddie Mac and JP Morgan Chase. Mr. Acosta grew up in Montebello, California and received his education from the University of California, at San Diego and Pomona College, where he played varsity basketball for future Hall of Fame Coach, Gregg Popovich. He writes a widely read blog on the economy, politics, sports and Latino culture. Mr Acosta lives with his family in San Diego, California.
TEAM
Sara Rodriguez,
Chairperson
Chairperson
Gary Acosta,
Board Member
Board Member
Melissa Cossio serves as Program Manager at the Hispanic Wealth Project. In her role, she oversees the strategic management and growth of the organization’s programs and initiatives.
Ms. Cossio is passionate about creating increased access to economic opportunity and generational wealth for Latinos through education, resources and support. Her professional experience includes a strong focus on grant management and program development for equity-based initiatives.
Prior to her role, she served as Community & Workforce Development Program Manager at the League of United Latin American Citizens (LULAC), the nation’s oldest and largest civil rights organization, where she collaborated with several Fortune 500 companies to bring direct services and resources to underserved Hispanic communities across the U.S. and Puerto Rico.
Ms. Cossio is a Women Leaders Association El Paso Chapter member and has participated in the Mujeres de HACE and Unleash the SHERO in You leadership programs. She holds a B.A. in Sociology and Political Science as well as a McCombs Business Foundations Certificate from The University of Texas at Austin. Melissa currently lives in El Paso, TX with her family.
Ms. Cossio is passionate about creating increased access to economic opportunity and generational wealth for Latinos through education, resources and support. Her professional experience includes a strong focus on grant management and program development for equity-based initiatives.
Prior to her role, she served as Community & Workforce Development Program Manager at the League of United Latin American Citizens (LULAC), the nation’s oldest and largest civil rights organization, where she collaborated with several Fortune 500 companies to bring direct services and resources to underserved Hispanic communities across the U.S. and Puerto Rico.
Ms. Cossio is a Women Leaders Association El Paso Chapter member and has participated in the Mujeres de HACE and Unleash the SHERO in You leadership programs. She holds a B.A. in Sociology and Political Science as well as a McCombs Business Foundations Certificate from The University of Texas at Austin. Melissa currently lives in El Paso, TX with her family.
Melissa Cossio,
Program Manager
Program Manager