NAMMBA Announces Partnership with Allen Tate Mortgage
Allen Tate Mortgage increases commitment to better serve today’s rapidly changing housing needs
The National Association of Minority Mortgage Bankers of America (NAMMBA) announced today a partnership with Allen Tate Mortgage, an important mortgage company partner in NAMMBA’s effort to affect positive change with the housing needs of underserved communities and with the development of a more diverse mortgage work force.
“We’re extremely excited to partner with Allen Tate Mortgage,” said NAMMBA Founder/CEO Tony Thompson, CMB. “Like us, Allen Tate Mortgage 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.”
Through this partnership with Allen Tate Mortgage, NAMMBA will roll out a comprehensive strategy to engage the more than 50 employees via access to focused training, new hire programs and leadership development, and position the organization to support the communities in which it currently conducts 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.
“We share NAMMBA’s commitment to improve the lives of minorities and women working in the mortgage industry through training and relationship building. Together, we will continue to build a more diverse and inclusive workplace,” said Chris Cope, president, Allen Tate Mortgage.
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
About Allen Tate Mortgage
Allen Tate Mortgage is a full-service mortgage banking company offering home purchase and home refinance loans. We offer conventional and government financing programs including FHA, VA, USDA and NC Housing programs, and loan products including 15-year and 30-year fixed rate and adjustable rate options. In 2020, Allen Tate Mortgage helped more than 1,900 customers qualify for and obtain mortgages totaling more than $484.3 million.