The Mortgage Bankers Association (MBA) has announced that it has partnered with Habitat for Humanity to provide $40,000 to help those residents of the Mid-Atlantic and Northeast United States who have been affected by “superstorm” Sandy. MBA has also made a $25,000 direct donation to the American Red Cross. While many MBA members have already made donations, MBA encouraged all of its members to consider doing so.
“Our industry has a long tradition of helping our customers and their communities in times of great need, and this is one of those times,” said MBA Chairman Debra W. Still, CMB. “Many MBA member companies have already stepped up and made donations to this relief effort and we are encouraging others to follow their lead.”
MBA made the donation to American Red Cross Disaster Relief and has encouraged its roughly 2,000 member companies operating in an industry that employs over 200,000 nationwide to make donations to the Red Cross or other non-profit organizations providing similar disaster relief.
“Sandy has disrupted the lives and destroyed the homes of many Americans on the East Coast and beyond, including many MBA members and friends,” said MBA President and CEO David H. Stevens. “MBA is dedicated to investing in communities and it is our responsibility to help at a time when so many of our fellow citizens are in need.”
Numerous organizations are providing assistance in the aftermath of Sandy, which killed more than 100 Americans and left more than six million without power. According to disaster modeling company Eqecat, total economic damages caused by Sandy could reach $50 billion, making it the second costliest natural disaster behind Hurricane Katrina in 2005.