Wells Fargo and Co. is forming an alliance with the U.S. Conference of Mayors to prevent foreclosures and disposal of distressed real estate in local communities nationwide.
The three-year alliance is designed to help mayors address housing challenges through strategies developed by Wells Fargo in its Leading the Way Home program, a national foreclosure prevention effort.
"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, the chief executive and executive director of the U.S. Conference of Mayors.
The alliance will connect mayors with ideas and best practices through outreach initiatives.
The group plans to host up to three regional mayoral forums each year for mayors to exchange information, and meet with Wells Fargo executives and other housing industry experts about the latest efforts to tackle housing challenges.
The alliance will promote sustainable homeownership and community development.
