ORLANDO, Fla. /Florida Newswire/ — The National Association of Minority Mortgage Bankers of America (NAMMBA) announced today a partnership with San Diego based Mortgage Capital Trading (MCT®). The relationship is an important step in both company’s efforts to affect positive change – addressing the housing needs of underserved communities as well as encouraging and developing a more diverse work force in the mortgage sector.
“We’re extremely excited to partner with MCT, the gold standard for secondary capital markets,” said NAMMBA Founder/CEO Tony Thompson, CMB. “Like us, MCT believes in the power of diversity and inclusion and wants its team members to reflect the communities in which it does business. It’s gratifying to have MCT’s support at our highest sponsorship level.”
Specifically, the partnership provides MCT consulting and recruiting resources, as well as access to a network of like-minded mortgage bankers. NAMMBA will tap into MCT’s deep secondary expertise. Already, MCT has participated in round tables, webinars, and helped shape NAMMBA’s most recent industry survey.
“Through our award-winning MCTlive! technology platform, we’re consistently fueling innovation and change within mortgage capital markets. We believe our partnership with NAMMBA is in this same vein,” said Curtis Richins, MCT President and CEO. “We are committed to moving the needle with regard to diversity, inclusion, and equality.”
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. 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.
The National Association of Minority Mortgage Bankers of America is a purpose-driven organization that is 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
Founded in 2001, Mortgage Capital Trading, Inc. (MCT) is the industry’s leading provider of fully-integrated capital markets services and technology. MCT offers an array of best-in-class services and software covering mortgage pipeline hedging, best execution loan sales, outsourced lock desk solutions, MSR portfolio valuations, business intelligence analytics, mark to market services, and an award-winning, comprehensive capital markets software platform called MCTlive!. MCT supports independent mortgage bankers, depositories, credit unions, warehouse lenders, and correspondent investors of all sizes. Headquartered in San Diego, California, MCT also has offices in Philadelphia, Healdsburg, and Texas. For more information, visit https://mct-trading.com/ or call (619) 543-5111.
News Source: Mortgage Capital Trading Inc.