The National Association of Minority Mortgage Bankers of America (NAMMBA) announced a partnership with Clear Capital, real estate valuation fintech company, as an important sponsor in NAMMBA’s effort to create a more diverse workforce.
Through this partnership with NAMMBA, Clear Capital will be able to engage in new diversity programs and leadership development. It will also position the company to strengthen the communities it conducts business in, creating economic opportunity for minority brokers, appraisers, and real estate agents.
“We’re extremely excited to partner with Clear Capital,” said NAMMBA founder and CEO Tony Thompson. “Like us, Clear Capital has a strong commitment to diversity and inclusion, and a leadership team that is committed to representing all the communities in which it does business.”
NAMMBA predicts over the next five years, 75% of all first-time buyers will be women, millennials, and people of color. The organization firmly states that purchase mortgage activity is not only growing, but its changing as well. According to the most recent mortgage market forecast, the three largest diverse borrower groups are Asians, African-Americans, and Hispanics. Together, these groups generated more than $292 billion of purchase opportunities in 2020, amounting to 24.2% of all purchase dollar opportunities.
“NAMMBA is an amazing organization that is creating positive change in our industry,” said Kenon Chen, executive vice president of corporate strategy at Clear Capital. “This partnership is an important piece of our people-first approach. From recruiting to the way we think about product development, diversity and belonging are at the heart of the impact we want to create.”
To learn more about NAMMBA, an organization that is dedicated to the inclusion of minorities and women in the mortgage industry, please visit NAMMBA.org.
