MBA Urges Member To Take 'Home For All' Pledge – NMP Skip to main content

MBA Urges Member To Take 'Home For All' Pledge

David Krechevsky
Oct 19, 2021
Mortgage Bankers Association Logo

The Mortgage Bankers Association (MBA) on Monday launched an effort to have its members pledge to promote minority homeownership, affordable rental housing, and company diversity, equity and inclusion.

KEY TAKEAWAYS
  • Initiative announced during MBA's annual convention urges members to commit to efforts to promote greater racial equity and inclusion.

Newly installed MBA Chairman Kristy Fercho, executive vice president and head of home lending at Wells Fargo, announced the “Home for All” pledge during her keynote address at MBA’s annual convention & expo in San Diego on Monday.

Kristy Fercho
Kristy Fercho

"The Home for All Pledge represents a long-term commitment by MBA member companies and employees to promote and ensure greater racial equity and inclusion in housing," Fercho said. "The time is now for the industry to collaborate on developing policies and best practices to close the racial homeownership gap, remove the barriers to sustainable and affordable housing, and support strategies to increase diversity within our organizations." 

The MBA encourages its member companies to sign the Home for All Pledge and commit to aligning with MBA's efforts to:  

  • Foster public policies and industry practices that promote and sustain minority homeownership and affordable rental housing;
  • Support market-based solutions through MBA's place-based CONVERGENCE programs; and 
  • Champion diversity, equity, and inclusion in our workplaces and our industry.

"MBA believes there is a significant need and opportunity for member companies to come together to eliminate the racial inequalities that have plagued our communities for generations," said Bob Broeksmit, CMB, president and CEO of the MBA. "With the industry's support, the results-driven action plans outlined in the Home for All Pledge will help expand homeownership opportunities for minority households, improve affordability and stability in the rental market, and ensure our workforce better reflects the diverse makeup of the communities and borrowers we serve."  

MBA's Building Generational Wealth Through Homeownership, a policy initiative announced in September, will provide an important framework for the Home for All Pledge. The policy initiative provides industry leadership and direction for reducing the racial homeownership gap; developing and supporting policies that support sustainable homeownership for communities of color; and promoting fair, equitable, and responsible lending for minority borrowers.

Published
Oct 19, 2021
More from
Community
Guaranteed Rate's Banosian Funds $2B In Total Loan Volume

The mortgage industry shouldn't be surprised by Guaranteed Rate's top loan officer, Shant Banosian, funding $2 billion in total loan volume during a record-breaking year. After all, “The Billion Dollar Man” is one of the top 5 loan originators in the U.S.

Wholesale
Nov 29, 2021
Mortgage Company Donates $100K To High School In Memory Of Fallen U.S. Navy Corpsman

Cleveland-based CrossCountry Mortgage donated $100,000 to Milan Edison High School in memory of U.S. Navy Corpsman, Maxton W. Soviak, who died while assisting in the evacuation of Americans and refugees in Afghanistan in August.

Community
Nov 23, 2021
CFPB Seeks Insight On Creating A Fairer Mortgage Market

The Consumer Financial Protection Bureau has been actively looking to create a fairer mortgage market, free of discriminatory engagements. To do so, it issued a Request for Information to seek input on rules implementing the Home Mortgage Disclosure Act.

Regulation and Compliance
Nov 17, 2021
AOMS Adds Account Executives To Meet Increased Non-QM Demand

Angel Oak Mortgage Solutions just rolled through a $1 billion quarter and is adding to its growing roster of account executives to meet the current demand for non-QM and company growth.

Non-QM
Nov 16, 2021
J.D. Power Links Record Origination Volume To Customer Satisfaction Decline

A new report from J.D. Power is linking the record mortgage origination volume experienced during the pandemic to a decline in customer satisfaction.

Analysis and Data
Nov 11, 2021
Bryan Bergjans Returns To The Mortgage Leadership Outlook

Caliber Home Loans' national director of Military and Veteran lending, Bryan Bergjans, is set to make another appearance on the Mortgage Leadership Outlook on Wednesday, Nov. 10.

Military Lending
Nov 08, 2021