NAMMBA Announces Partnership with American Financial Resources
The National Association of Minority Mortgage Bankers of America (NAMMBA) announced today a partnership with American Financial Resources, Inc. (AFR), a national mortgage lender, who will serve as an important sponsor in NAMMBA’s effort to affect positive change with the housing needs of underserved communities and the development of a more diverse mortgage workforce.
Through this partnership, NAMMBA will roll out a comprehensive strategy to engage AFR employees via access to focused training, new hire programs and leadership development. This will further position AFR to support the communities in which it currently conducts business, creating economic opportunity for minority brokers while providing housing options for underserved areas. The partnership will also give NAMMBA the opportunity to come closer to achieving Mission 2025 - their goal to connect 50,000+ students to the real estate finance industry by the year 2025.
“We are so excited that AFR decided to come on as a partner to create a more diverse mortgage industry and housing market,” said NAMMBA Founder/CEO Tony Thompson, CMB. “Cooperation and collaboration are key to bringing more young people, women, and minorities into this industry which leads to fresher ideas and ways of doing business.”
According to NAMMBA, over the next five years, 75 percent of all first-time home buyers will be women, millennials or people of color. Although there is concern across the industry about a stagnant or shrinking housing market, purchase mortgage opportunity is not only growing, it’s changing. According to NAMMBA’s most recent mortgage market forecast, the three largest diverse borrower groups (Asians, African-Americans, and Hispanics) generated more than $292 billion of purchase opportunity in 2020, which amounts to 24.2 percent of all purchase dollar opportunities.
AFR’s mission is to make home ownership more accessible for all and provide a number of offerings that support underserved communities in the housing market. From down payment assistance to one-time close, renovation loans and more, AFR has a suite of products and services to help support diversity and inclusion, ultimately bringing more people home.
“Joining forces with NAMMBA was an obvious choice for AFR as our values are so closely aligned,” said Richard Dubnoff, CEO of American Financial Resources, Inc. “It's important to us as a company that we make strides towards ensuring home ownership is possible for all, which is why we offer such a comprehensive line of products. This partnership with NAMMBA is another important step in empowering women and minorities to become more prevalent in their communities, through home ownership or growing their careers in the mortgage industry.”
About American Financial Resources, Inc.
American Financial Resources, Inc. (AFR) offers a comprehensive array of residential mortgage products to meet a variety of financing needs. AFR is a leading FHA 203(k) lender for sponsored originations and an innovator in construction and renovation lending. AFR utilizes the latest technology and delivers educational resources to correspondent lenders, mortgage brokers, loan originators and consumers. American Financial Resources, Inc. is an Equal Housing Lender and Equal Opportunity Employer. Lender NMLS 2826 at www.nmlsconsumeraccess.org. For more information, visit www.afrcorp.com.
About NAMMBA
The National Association of Minority Mortgage Bankers of America is a purpose-driven organization dedicated to the inclusion of minorities and women in the mortgage industry who are advocates for sustainable homeownership in local communities. To fulfill its mission, NAMMBA provides programs and initiatives to introduce minorities and women into the mortgage industry, including recruiting, advisory, networking and training for enterprises and individual professionals. For more information, visit: http://www.nammba.org
Jade Winfrey
NAMMBA
8773630340 ext.
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