ABOUT
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.
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.
Mission
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.
PROJECT APPROACH
& FRAMEWORK
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.
GOALS
01
02
03
Achieve a 50 percent or greater rate of U.S. Hispanic Homeownership
Increase by 50 percent the first-year success rate of Hispanic-owned small business
Increase by 25 percent the number of Hispanic households owning non-cash financial assets (e.g., stocks, bonds, mutual funds, 401k accounts)
Homeownership is the primary vehicle for wealth creation for the middle class. Increases in Hispanic homeownership will drive ongoing increases in Hispanic household net worth, enabling broader investments in education, small-business formation and more.
During the past decade, the rate of Hispanic small business formation has far outpaced entrepreneurship rates among non-Hispanics. Newly created Hispanic-owned small businesses are repositories for entrepreneurial wealth as well as engines for increasing Hispanic labor force participation.
Hispanics under-participate in retirement, 401k and mutual fund programs, and hold a disproportionately small share of their assets in financial instruments (e.g., stocks, bonds). Identifying existing barriers to financial market participation and guiding strategic asset diversification can help drive a sustainable increase of Hispanic wealth.
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
INITIATIVES
PROGRAMS, POLICIES
&
&
PILLARS
Access to
Capital
Capital
Sustainable
Homeownership
Homeownership
Asset
Diversification
Diversification
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
Jason Riveiro serves as Executive Director & Chief Operating Officer. Prior to joining NAHREP, Jason served as Sr. Director of Industry Relations at Notarize and held notable roles at Realogy including Head of Diversity, Equity & Inclusion and Vice-President of Global Affiliate Service.
Riveiro has served on several boards including the Federal Reserve Bank of Cleveland’s Business Advisory Board, U.S. Global Leadership Coalition, iHeart Radio’s Community Advisory Board, and the Pittsburgh Pirates Diversity Advisory Board.
To commemorate his contributions, Riveiro has been awarded the Univision Communications’ Fellow, NAACP Freedom Fighter Award, LULAC National Presidential Citation, the Distinguished Hispanic Ohioan Award, and was recognized by Inman News as one of the five people driving the future at Realogy in 2021.
Jason holds an MBA from Xavier University, a bachelor’s degree in International Studies and Business Administration from the University of St. Thomas in Houston, TX and has completed graduate courses at the Universidad de San Pablo-CEU in Madrid, Spain.
In his free time, Jason hosts a podcast focused on highlighting multicultural real estate professionals at https://multiculturalre.com.
Riveiro has served on several boards including the Federal Reserve Bank of Cleveland’s Business Advisory Board, U.S. Global Leadership Coalition, iHeart Radio’s Community Advisory Board, and the Pittsburgh Pirates Diversity Advisory Board.
To commemorate his contributions, Riveiro has been awarded the Univision Communications’ Fellow, NAACP Freedom Fighter Award, LULAC National Presidential Citation, the Distinguished Hispanic Ohioan Award, and was recognized by Inman News as one of the five people driving the future at Realogy in 2021.
Jason holds an MBA from Xavier University, a bachelor’s degree in International Studies and Business Administration from the University of St. Thomas in Houston, TX and has completed graduate courses at the Universidad de San Pablo-CEU in Madrid, Spain.
In his free time, Jason hosts a podcast focused on highlighting multicultural real estate professionals at https://multiculturalre.com.
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.
Jason Riveiro,
Interim Executive Director
Interim Executive Director
Melissa Cossio,
Program Manager
Program Manager