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Organizations Use Spanish-Language Telenovela in Outreach Efforts

Soap Opera Combines Entertainment with Financial Facts

Denver, CO – Jealousy and romance aren't the typical words used in homebuyer education, but they aptly describe an educational and entertaining telenovela that is currently used in Denver to teach individuals about buying a home. Several local organizations are using DVDs of the Spanish-language TV mini series, Nuestro Barrio, which was funded by Freddie Mac (NYSE: FRE). The show is about Hispanic life in the United States.

This new take on making homebuyer education classes entertaining as well as educational is being utilized by Colorado State Bank and Trust Mortgage Group, Del Norte NDC and the Colorado Association of Hispanic Real Estate Professionals (CAHREP). These groups are using DVDs of the series as part of their community outreach efforts.

The 13-episode series, where hot storylines are combined with meaningful messages, subtly educates viewers on important financial issues including money management, credit, homeownership, predatory lending and foreclosure prevention. These storylines are played out against the traditional novela (soap opera) themes of romance, jealousy, greed and conflict.

Freddie Mac, one of the nation's largest investors in residential mortgages, funded the production of Nuestro Barrio. The Community Reinvestment Association of North Carolina (CRA-NC) produced Nuestro Barrio. CRA-NC is a non-profit consumer advocacy organization that also produces original programming for radio and television.

Denver Mayor John Hickenlooper said, "We hope that this collaborative effort in financial education will help more families learn about homeownership and the associated risks and rewards. Financial drama is best on television, not on the blocks in our neighborhoods."

"The mortgage industry is always looking for new and creative ways to reach potential homebuyers," said Craig Nickerson, vice president of Freddie Mac. "Educational telenovelas provide a unique way to help individuals learn the value of building a credit history and having a bank account, in addition to learning about homeownership in America."

"Colorado State Bank and Trust Mortgage Group is pleased to be part of the Nuestro Barrio initiative," said Nathan Hall, vice president, CSBT Mortgage Group. "We believe that responsible homeownership can help stabilize and revitalize communities, and consumer education, particularly in light of language and other potential barriers, is essential to a successful home buying experience."

Tammy Perez Baca, MultiCultural markets director for Stewart Title of Denver added, "Through Nuestro Barrio, Freddie Mac and participants have found an innovative and culturally-relevant approach to providing Latinos the training needed to become lifetime homeowners. By partnering with Stewart Title of Denver's Hispanic Division, Primer Latino Titulo, this training can extend in their language and in their culture through the final steps of the homebuying process. In other words, the loop is closed from initial outreach to the closing table."

For more information about attending a homebuyer's education class, contact Del Norte NDC at 303-477-4774.

The Nuestro Barrio Storyline

Filmed entirely in Durham, N.C. by CRA-NC, the show is in Spanish with English subtitles. The series subtly introduces valuable lessons on numerous topics including banking, credit and homeownership. The characters learn how to achieve their dream of homeownership, as well as how to recognize and avoid predatory lending practices.

The two major locations in the series are a family-owned restaurant and a nightclub. The owners of the restaurant, Manuel and Marisol, have lived in the U.S. for many years and have seen their restaurant become a gathering place for the community. They help their family and friends navigate life in the U.S. by sharing their experiences, offering guidance and connecting them to community resources.

Freddie Mac is a stockholder-owned corporation established by Congress in 1970 to support homeownership and rental housing. Freddie Mac purchases single-family and multifamily residential mortgages and mortgage-related securities, which it finances primarily by issuing mortgage-related securities and debt instruments in the capital markets. Over the years, Freddie Mac has made home possible more than 50 million times, ensuring financing for one in six homebuyers and more than four million renters.

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