The Mortgage Bankers Association is entering an alliance with Operation HOPE to help lower-income Americans learn more about opportunities available to them to own a home without getting in over their heads.
"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 HOPE’s Chairman and CEO John Hope 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 and 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 and CEO David 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.