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MBA chairman reveals top priority for 2024

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Conference Coverage
Friday, October 20, 2023

Having been selected as the Mortgage Bankers Association (MBA) 2024 chairman, Union Home Mortgage President and founder of Amerifirst Home Mortgage Mark Jones shared his top priority for the organization during its 2023 convention and exposition in Philadelphia.

Jones, who previously chaired MBA’s Diversity, Equity and Inclusion (DEI) Advisory Committee, said his top priority for MBA under his leadership will be making affordable homeownership a national priority again.

“As a nation, we built homes for returning veterans, expanded access to affordable loans, and made it easier than ever for qualified families to achieve their own American Dream. Why? Because our leaders recognized that homeownership is the foundation of wealth creation and financial freedom in America,” Jones said. “The results were incredible. Our economy grew by leaps and bounds. Our communities thrived like never before. Generations of Americans honestly believed that we’d always have better days ahead – built on a foundation of homeownership.”

Optimism about the prospect of homeownership being an avenue for building generational wealth and realizing the American Dream is fading, Jones explained, because homeownership has become more difficult to attain.

“For millions of families, the dream of owning a home is just that – a dream that it seems will never see the light of day. In the current crisis environment, this hope for a home has fallen even further,” he said. “My friends, it’s time to flip the script. It’s time to make the American Dream accessible for all. And I believe that MBA is uniquely suited to renew this national priority.”

He pointed to data indicating that families of color typically begin their homeownership journey a full decade behind similarly situated Caucasian families.

To help address this issue, Jones said he is “doubling down” on the efforts of MBA’s DEI Advisory Committee under the leadership of Susan Stewart, Kristy Fercho and Matt Rocco.

“As the former chair of MBA’s DEI Advisory Committee, I’ll build on the groundbreaking efforts they launched with one of my own. We’re calling it the Equitable Homeownership Initiative,” Jones said. “This initiative addresses a very real problem. Right now, too many young Americans don’t get real financial education. In their formative years, they don’t learn the tips and tricks to achieving financial freedom and social mobility – homeownership chief among them.”

As part of the initiative, Jones aspires to see MBA work with schools in developing new tools and resources to help children learn about financial literacy. He described how Amerifirst once purchased every fourth-grade student in the Detroit Public Schools a copy of a book written by a real estate broker from his hometown called “Princess Mackie Buys a House,” in which a young African American girl learns lessons about goal-setting goals and saving money as she works toward buying that castle. 

Jones said the initiative was a hit with students and parents, making him believe a similar initiative could work nationwide.

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