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Contact: Christine Sullivan

Option One Mortgage Corp.

(949) 790-3600, ext. 35204

 

Contact: Angelique Beverly

Congress of Racial Equality

(212) 598-4000

 

OPTION ONE MORTGAGE CORPORATION GIVES 10 SCHOLARSHIPS TO CORE’S PROJECT INDEPENDENCE

 

Trainees are empowered to make the transition from public assistance to work

 


 

         

IRVINE, Calif., Aug. 12, 2003 – For more than 60 years, the Congress of Racial Equality (CORE) has provided job training to help urban Americans move out of poverty and achieve their dreams. As a result, thousands have advanced to better lives.

 

Now, additional participants will join this empowered group thanks to a $15,000 scholarship donation by Option One Mortgage Corporation, a national residential mortgage lender and subsidiary of H&R Block Inc., to CORE’s Project Independence. Project Independence provides training in office skills and work ethics to young mothers who are receiving public assistance. Hailed by America’s First Lady, Laura Bush, CORE’s Project Independence has empowered countless individuals to “realize their dreams.”

 

“Project Independence is dedicated to breaking the cycle of welfare dependency by giving participants the skills – both technical and attitudinal -- they need to find and keep good jobs,” said Diane Addison, the program’s director. “Option One’s donation will cover training costs for 10 participants.” Project Independence receives no government funding and relies solely on private contributions.

 

“CORE’s focus on training young mothers to become self-supporting so that they can realize their dreams for themselves and their children ties closely to Option One’s mission of helping people to achieve their dreams of homeownership or other important financial dreams,” said Bob Dubrish, president and chief executive officer, Option One. “For both of our organizations, it’s about building better futures for people through empowerment.”

 

Project Independence has a strong rate of success. Approximately 80 percent of trainees who complete the program are placed in meaningful employment within 60 days.

 

Founded in 1992, Option One originates and acquires nonprime products through a national network of brokers and lenders. Its nonprime servicing and sub-servicing operation has more than $34 billion under management as of July 31, 2003. H&R Block Mortgage Corporation, a wholly owned subsidiary of Option One, offers prime, nonprime and government mortgage products directly to consumers nationwide. With headquarters in Irvine, Calif., Option One employs more than 3,800 associates. Option One Mortgage is a subsidiary of H&R Block, Inc. (www.hrblock.com), a diversified company with subsidiaries that deliver tax services and financial advice, investment and mortgage products and services, and business accounting and consulting services. For more information, visit the company’s Web site at www.optiononemortgage.com.

 

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CORE -- Congress of Racial Equality  *  P.O. Box 264  *  New York, N.Y.  *  10276  *  Tel: (212) 598-4000  *  Fax: (212) 982-0184

 

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