40 Under 40, Krysta Pate
Krysta Pate is Named One of Crain’s 40 Under 40
We are thrilled to announce that Krysta Pate of Community Reinvestment Fund, USA (CRF) has been named as one of Crain’s 40 Under 40 in recognition of her work to promote equitable and inclusive housing in Detroit. Congratulations, Krysta! This honor is well-deserved and we are proud to have you on the CRF team.
Homeownership in Detroit: Economic Hope and Recovery
After the housing and credit crisis of the 2000s, Detroit saw a steep decline in home values and sales. Appraisals skyrocketed, leaving the value of the home far below the appraised value and despite good credit and stable incomes, hopeful homebuyers could not obtain mortgages.
In 2016, CRF led the development of DHM, an innovative program designed to make home ownership more accessible in Detroit by partnering with banks and local government to make mortgages more accessible. Krysta was hired by CRF the same year to help lead the initiative in the city.
Her passion for closing the homeownership opportunity gap has helped DHM grow to hold a 10% market share in Detroit and more importantly, provide affordable homes for Detroiters.
She Found Her Calling
Krysta originally wanted to be a forensic pathologist but committed to a career in finance after taking a job in banking and seeing firsthand the hardships poverty creates. A couple of decades later, she is more passionate than ever about helping people achieve their dream of owning a home in Detroit. She is driven to “create home ownership opportunities for low- to moderate-income families and people of color.”
Source and read more at https://www.crainsdetroit.com/awards/krysta-pate-40-under-40-2018