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George Fatheree, III

Fintech entrepreneur. Social justice trailblazer. Big Law attorney. Master storyteller. Artist advocate. Land back pioneer.

George Fatheree III is a social impact entrepreneur, fintech founder, and trailblazing attorney who currently serves as the Founder and CEO of ORO Impact.13 He launched ORO Impact in June 2023, a social impact fintech company dedicated to closing the wealth gap by revolutionizing access to down payment assistance for homeownership.45

Career Highlights

Legal Career::

  • Former partner at prestigious law firms including Sidley Austin LLP and Munger, Tolles & Olson LLP3
  • Notably secured the landmark return of Bruce's Beach property in 2022, marking the first time in U.S. history that the government returned property taken by racially motivated eminent domain45

ORO Impact::

  • Founded in June 2023 after leaving his position as partner at Sidley Austin7
  • Aims to transform homeownership by providing a platform for employers to offer down payment assistance loans to employees25
  • Partners with HOTB Software Solutions for platform maintenance and has distributed over $8 billion in assistance5

Professional Background

  • Worked as a strategy consultant with McKinsey & Company1
  • Served as Chief Operating Officer at California Charter Schools Association3
  • Co-founded govWorks.com, an e-government internet company13
  • Judicial clerk for the U.S. Court of Appeals for the 9th Circuit3

Education and Affiliations

  • JD from Loyola Law School, Loyola Marymount University3
  • AB in government and religion from Harvard University3
  • Commissioner on the board of the National Portrait Gallery at the Smithsonian Institution13
  • Trustee for Loyola Marymount University13
  • Member of Sigma Pi Phi, the oldest African-American Greek-lettered fraternity1

George Fatheree's career demonstrates a consistent commitment to social justice and innovative solutions for closing the wealth gap, particularly through increasing access to homeownership.456

Highlights

Aug 28 · linkedin

THIS IS WHY WE EXIST.

“89% of respondents said owning a home is essential to their vision of the future…only 10% said homeownership is easy to achieve.”

ORO Impact is the key to how homeownership will work for millions who feel locked out of the American Dream. Our platform makes it easy for companies to make loans to their employees to make a down payment, buy down an interest rate or pay a broker or other closing costs to access home ownership. Employers win with better retention. Employees win with a faster path to building wealth. Check us out at www.oroimpact.com to learn more.

#americandream #retentionsolution #benefitstrend #wealthcreation #homeownership

Aug 22 · linkedin

MUST READ: ARE CALIFORNIA’S PUBLIC WORKERS RAISING RENTS ON THEMSELVES AND EXACERBATING OUR HOUSING AFFORDABILITY CRISIS?

In short: Probably.

The LA Times’ article below titled, “The hidden role of public pensions in raising rents in California” tracked investments by California’s public pensions in private funds that acquired apartment buildings. The Times analyzed 133 buildings that were acquired by private funds receiving investments from California pensions, including retirement funds for CA public school teachers (CalSTRS) and public employees in Los Angeles, Orange County and San Diego.

Overall, the apartment buildings owned by the pensions saw rent increases almost 8% higher than other apartment buildings in the same neighborhoods!

Now, the average public sector employee in California earns around $90k per year. But to qualify for a mortgage on a mid-tier home here, you need to earn about $240k per year. That means a huge number of (if not most) public sector employees are likely renters.

Now it makes sense for pension funds to try to maximize returns. But one wonders whether that should be at the cost of jacking-up rents for current public employees.

I think we’ve got a better way: we launched ORO Impact so companies could help their employees build wealth through homeownership. Companies make loans to employees to use for a down payment or cover closing costs and the loans are deferred or forgiven so long as the employee stays employed. Employees win by building wealth through homeownership and employers win through better retention.

ORO Impact can also help public pensions achieve competitive returns while helping public sector employees build wealth through home ownership. The pensions can set aside a portion of their assets for housing loans to public sector employees (if you think about it, it’s really the employees’ money in the first place). Priority can be based on tenure in the system with priority for first time homebuyers. When an employee sells or refinances the home, they’ll repay the loan plus interest or a share of the home’s appreciation (like Cal HFA's Dream for All program). After a decade or so, the program can be funded in perpetuity through the repayments.

Public pensions win. Public sector employees win big!

Visit www.oroimpact.com, email [email protected] or hit me up to learn more.

Related Questions

What inspired George Fatheree to start ORO Impact?
How does ORO Impact's down payment assistance program work?
What are some of George Fatheree's notable achievements as a lawyer?
How has George Fatheree's background in law influenced his approach to social impact?
What partnerships has ORO Impact formed to enhance its services?
George Fatheree, III
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Location

Glendale, California, United States