Navicore Solutions Awarded Additional Funding Support from the Wells Fargo Foundation for COVID-19 Financial Recovery Program
12/4/2020
Contacts:
Lori Stratford
Digital Marketing Manager
Navicore Solutions
lstratford@navicoresolutions.org
Chris HammondSVP, Communications Leader
Wells Fargo & Company
Chris.L.Hammond@wellsfargo.com"
@ChrisHammondWF
Manalapan, NJ – Navicore Solutions announced a second grant awarded from the Wells Fargo Foundation in support of their COVID-19 Financial Recovery Program, providing financial counseling services to homeowners and renters throughout the country.
The Wells Fargo Foundation COVID-19 Housing Counseling Support (HCS) initiative helps national nonprofit housing intermediaries, local housing counselors, and nonprofit housing providers to support housing stability for renters and homeowners across the U.S. facing financial challenges. Strategies include expanding the capacity of housing counselors to respond to renters and homeowners as well as supporting nonprofits that provide affordable rental homes and services.
“As part of our efforts to create solutions to keep people impacted by COVID-19 housed, we believe in the importance of supporting the work of Navicore Solutions that will provide critical financial counseling, eviction and foreclosure mitigation,” says Eileen Fitzgerald, head of Housing Affordability Philanthropy with the Wells Fargo Foundation. “The economic challenges caused by COVID-19 are putting a spotlight on the most vulnerable communities, which have been disproportionately affected by job losses, under-employment and housing instability. More solutions are needed to address housing instability as a safe and affordable place to call home is an essential pathway for wellness, dignity and economic opportunity.”
Founded in 1991, Navicore Solutions is a nonprofit financial counseling organization whose mission is to strengthen the well-being of individuals and families through education, guidance, advocacy and support. They provide compassionate financial counseling to consumers nationwide in the areas of personal finance, consumer credit, student loans, foreclosure prevention and housing, bankruptcy counseling and education.
As a nonprofit financial counseling organization, Navicore Solutions has a unique understanding of how this health and economic crisis has disproportionally affected low income earners, housing insecure and minority populations, and it is their goal to serve as their advocate to proactively prevent further detrimental hardships. Navicore Solutions’ COVID-19 Financial Recovery Program connects households with financial counselors serving to provide critical resources, guidance and advocacy to help individuals and families avoid foreclosure and eviction, and maintain financial stability during this crisis. Over 71% of the households Navicore Solutions has assisted over the past 6 months are considered low-and-moderate income households, with 56% being minority populations.
“The support that Navicore Solutions has received from the Wells Fargo Foundation has been invaluable to our organization’s service provision,” said Diane Gray, Navicore Solutions’ Vice President of Counseling and Education. “Households across the country are facing severe financial challenges that threaten their livelihood and housing security. The additional funding support will help us assist more individuals and families, as the need for our services remain critical.”
Currently, there are nearly 10 million households throughout the county that are delinquent on their rent or mortgage payments. Together, Navicore Solutions and the Wells Fargo Foundation have helped thousands of households avoid eviction and foreclosure throughout the country since the start of the pandemic, and they expect tens of thousands more in 2021.
About Navicore Solutions
Founded in 1991 and headquartered in Manalapan, NJ, Navicore Solutions, a 501(c) (3) nonprofit organization, is a national leader in the field of nonprofit financial and housing counseling, with office locations in Hammonton, NJ, Mansfield, MA, Raleigh, NC, Dallas, TX, Roseville, MN, Henderson, NV, Peoria, IL, San Diego, CA, Bensalem, PA, St. George, UT and Stamford, CT. Initially approved by the U.S. Department of Housing and Urban Development (HUD) as a Local Housing Counseling Agency in 2003, they became an approved Housing Counseling National Intermediary in 2013. Navicore Solutions provides counseling to consumers nationwide in the areas of personal finance, consumer credit, student loans, disaster recovery, foreclosure prevention and housing. What sets their agency apart is the quality and depth of their counseling model, as well as their longstanding commitment to acting in the best interest of their clients.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.98 trillion in assets. Wells Fargo’s vision is to satisfy their customers’ financial needs and help them succeed financially. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, investment and mortgage products and services, as well as consumer and commercial finance, through 7,400 locations, more than 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 31 countries and territories to support customers who conduct business in the global economy. With approximately 263,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 29 on Fortune’s 2019 rankings of America’s largest corporations. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.
Lauren Lovett has been with Navicore Solutions for over 10 years serving as a Certified Credit Counselor, and currently as the Grants Manager. While in these roles, she has witnessed the positive impact that the organization’s counseling services has on improving the money management skills and economic security of individuals and families in need.