Three of the largest U.S. financial institutions are teaming up to fund a major home giveaway for injured veterans, in collaboration with the Military Warriors Support Foundation (MWSF) JPMorgan Chase & Co., Wells Fargo, and Bank of America Corp. are making donations to provide seven mortgage-free homes to American soldiers hurt in the line of duty in Iraq and Afghanistan.

The banks are partnering with other industry entities to create the housing gift, which is part of the MWSF’s Homes4WoundedHeroes program. The beneficiaries of the

homes were selected through an application process, and those receiving the homes recently found out about their good fortune when the initiative was announced on Sept. 13. Along with the house, those chosen for the project will gain three years of family and financial counseling.

Other companies supporting the home giveaway included The National Firm, Home Depot, and Hudson & Marshall. Homes4WoundedHeroes has previously donated 30 mortgage-free properties, and in addition to the seven given away this week, the organization plans to extend 17 more homes in the near future.

Leroy Sisco, a three-star General and founder and CEO of MWSF, commented on the giveaway, saying, ““The impact these homes can have on their recipients is immeasurable. It’s the most heartwarming thing outside of my family that I’ve ever been involved with.”

The key presentation for recipients took place at the annual Five Star Default Servicing Conference and Expo, and Ed Delgado, Five Star Institute’s CEO, echoed Sisco’s warm thoughts, stating, “It’s a privilege for us to partner with MWSF and the nation’s three largest mortgage servicers to honor seven heroes whose sacrifice for our liberty is immeasurable. We thank Bank of America, JPMorgan Chase, and Wells Fargo for their support of this extraordinary event.”