MBA Teams With Operation HOPE

Posted by Patrick Barnard on June 27, 2014 No Comments
Categories : Residential Mortgage

The Mortgage Bankers Association (MBA) and Operation HOPE, a nonprofit private bank for the working poor, are teaming up to help more renters become homeowners through education and counseling.

‘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,’ says John Hope Bryant, chairman and CEO of Operation HOPE, in a statement. ‘Together, we can help more renters become homeowners, and struggling homeowners keep their homes during this economic recovery.’

Under the terms of the agreement, Operation HOPE will be provided opportunities to engage with MBA members through speaking opportunities at MBA events and other means.

In addition, the MBA will facilitate synergies between HOPE and EverFi, an MBA partner that provides online financial literacy training to both adults and students, the MBA states in a release.

What's more, the MBA will provide support to Operation HOPE's Project 5117, which aims to strengthen the economy by focusing on empowering those who earn less than $50,000 a year.

‘Operation HOPE is a leading name in economic empowerment and financial literacy among the working poor, the underserved and the struggling middle class,’ says David Stevens, president and CEO of the MBA. ‘[The] MBA and its members are excited to work with HOPE to promote responsible, sustainable homeownership to communities across the country.’

Founded in 1992, Operation HOPE has served more than 2 million individuals and directed more than $1.5 billion in private capital to America's low-wealth communities. The nonprofit maintains a growing army of 20,000 HOPE Corps volunteers and currently serves more than 300 U.S. cities, as well as South Africa, Saudi Arabia, Morocco and the United Arab Emirates.

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