The National Association of Minority Mortgage Bankers of America (NAMMBA) and Howard Hanna Mortgage Services announced they have implemented a partnership to help affect positive change in the housing needs of undeserved communities.
“We’re extremely excited to partner with Howard Hanna Mortgage Services,” NAMMBA founder and CEO Tony Thompson said. “Like us, it 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.”
The two entities will devise a comprehensive strategy to engage more than 160 Howard Hanna Mortgage Services employees by providing access to focused training, new hire programs, and leadership development. This will position the company to support the communities it already serves and create economic opportunity focusing on business development for minority brokers while meeting the housing needs of underserved areas.
“Diversity is a crucial element of our values-based organizational strategy as we seek to include diverse talent in our workforce and strive to serve clients across a variety of demographics,” Howard Hanna Financial Services President F. Duffy Hanna said. “This partnership is an important step in building the future education and outreach for Howard Hanna Mortgage Services and we look forward to taking that step with a great partner like NAMMBA.”
According to NAMMBA, 75 percent of all first-time homebuyers will be women, millennials, or people of color over the next five years. The association’s most recent mortgage market forecast shows the three largest diverse borrower groups – Asians, African American, and Hispanics – generated more than $292 billion of purchase opportunity in 2020, which amounts to 24.2 percent of all purchase dollar opportunities.