At the Mortgage Bankers Association’s (MBA) convention this week, MBA honored Fifth Third Bank, U.S. Bank Home Mortgage and Atlantic Bay Mortgage Group.
PHILADELPHIA – The Mortgage Bankers Association (MBA) recognized five companies as 2023 Diversity, Equity and Inclusion (DEI) Residential Leadership Award recipients during its 2023 Annual Convention & Expo held in Philadelphia this week.
The annual awards recognize MBA members for their leadership efforts in DEI in three award categories: organizational DEI, market outreach strategies and non-lender.
“This year’s DEI Leadership Award winners have demonstrated their commitment to creating a more diverse and inclusive environment at their respective organizations and in the communities they serve,” says Mark Jones, 2024 MBA Chairman and president of Union Home Mortgage.
Organizational DEI Award: Fifth Third Bank
The Organizational Award honors company initiatives specifically developed and designed to increase DEI within its leadership and employee base of member companies, so the mortgage banking industry may better reflect and understand its customers.
In 2019, Fifth Third Bank shared “Six Bold Goals” to focus efforts on inclusion and diversity. In May 2020, Fifth Third Bank extended its racial diversity efforts, and its board approved an additional $2.8 billion to further accelerate equity, equality, and inclusion for its workforce and suppliers by launching the AREEI (Accelerating Racial Equality, Equity, and Inclusion) Initiative, which expands inclusion efforts for employees, customers, and communities.
Market Outreach Strategies Award: U.S. Bank Home Mortgage and Atlantic Bay Mortgage Group
The Market Outreach Strategies Award recognizes company initiatives specifically developed and designed to increase outreach, marketing and products to attract customers from the industry’s fastest-growing market segments.
For companies with more than 1,000 employees, U.S. Bank Home Mortgage is being awarded for its dedication to closing the racial homeownership gap. One of its premier initiatives is Access Home, a program aimed at advancing Black homeownership. Access Home is a long-term program focusing on four key pillars to address the financial challenges and goals of individuals and families: Enhanced adult financial information, youth outreach, strategic community outreach, and a Mortgage Loan Originator (MLO) Development Program. The company committed over $1.5 million to 18 community partners.
For companies with fewer than 1,000 employees, it awarded Atlantic Bay Mortgage Group for its development of SmartPath to Homeownership. SmartPath focuses on creating awareness for affordable housing opportunities for low-to-moderate (LMI) borrowers and first-time homebuyers.
Within SmartPath, Atlantic Bay offers La Bahia – a Limited English Proficient (LEP) Program. Its geographic footprint encompasses diverse consumer bases, and to better meet the needs of consumers whose first language is Spanish, it created the La Bahia program to offer education and access regarding homeownership.
Non-Lender Award: Radian Guaranty and iEmergent
Radian Guaranty was recognized for expanding its internal DEI initiatives. One was Allyship Academy, which features DEI learnings for employees within a program and lets employees take different DEI courses. Additionally, in 2022, Radian Guaranty launched a revised internal DEI strategy, DEI Ambition, which focuses on three pillars: Amplify Voices, Advocate for Access, and Practice Inclusion.
For the Market Outreach Strategies non-lender category, iEmergent was honored for its technology platform and strategic approach to help lenders locate, understand and meet the needs of racially and ethnically diverse markets.
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