The California Reinvestment Coalition, San Francisco, has announced a new initiative aimed at increasing the number of mortgage counselors working to keep Californians in their homes. Under the California Home Ownership Preservation Initiative, mortgage counseling agencies will receive $4.6 million to build their capacity over the next two years, the coalition said. The announcement came from the coalition, the San Francisco Foundation, the California Community Foundation, and eight financial institutions: Merrill Lynch, HSBC-North America, Wachovia Bank, Comerica Bank, Wells Fargo Bank, Countrywide Financial Corp., Citi, and Bank of America. The California Reinvestment Coalition can be found on the Web at http://www.calreinvest.org.

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