WASHINGTON, D.C. (June 27, 2014) –The Mortgage Bankers Association (MBA) and Operation HOPE (HOPE), the global leader in financial dignity, announced today that they have entered into a strategic alliance designed to foster open communication and mutual understanding of issues related to sustainable residential mortgage lending. The announcement was made at MBA’s Strategic Markets and Diversity Summit in Washington, DC, where HOPE’s Chairman and Chief Executive Officer John Hope Bryant delivered special remarks.
"This strategic partnership with the Mortgage Bankers Association enhances the reach, capability, and credibility of our national plan to become the nation's first private banker to the poor and struggling middle class. Together, we can help more renters become homeowners, and struggling homeowners keep their homes during this economic recovery," says Chairman Bryant.
Under the terms of the agreement, MBA will provide HOPE opportunities to engage with MBA members through a variety of means, including by providing speaking opportunities at MBA events. MBA will facilitate synergies between HOPE and EverFi, an MBA partner that provides online financial literacy training to both adults and students and will also provide support to Operation HOPE’s Project 5117.
In turn, Operation HOPE will seek opportunities for MBA’s President & CEO to speak with HOPE’s Founder and CEO to advance the two organizations’ common interest in promoting sustainable homeownership, provide literature and information on HOPE’s projects at MBA conferences and events and link to MBA’s Home Loan Learning Center from the Operation HOPE website.
“Operation HOPE is a leading name in economic empowerment and financial literacy among the working poor, the underserved and the struggling middle class,” said MBA’s President & CEO David H. Stevens. “MBA and its members are excited to work with HOPE to promote responsible, sustainable homeownership to communities across the country.”
The mission of Operation HOPE’s Project 5117 is to strengthen the economy by focusing on empowering those who earn less than $50,000 a year. It is a mission that is supported by a broad range of services, from homeownership counseling, to credit card debt management, a program that helps those with low credit scores raise their score to 700 through a HOPE Inside location, and a comprehensive entrepreneurship-training course called HOPE Business-In-A-Box.
The Mortgage Bankers Association (MBA) is the national association representing the real estate finance industry, an industry that employs more than 280,000 people in virtually every community in the country. Headquartered in Washington, D.C., the association works to ensure the continued strength of the nation's residential and commercial real estate markets; to expand homeownership and extend access to affordable housing to all Americans. MBA promotes fair and ethical lending practices and fosters professional excellence among real estate finance employees through a wide range of educational programs and a variety of publications. Its membership of over 2,200 companies includes all elements of real estate finance: mortgage companies, mortgage brokers, commercial banks, thrifts, REITs, Wall Street conduits, life insurance companies and others in the mortgage lending field. For additional information, visit MBA's website: www.mba.org.