Lancaster-based Fulton Bank is set to train its employees to meet the housing needs of underserved areas in the midstate through a partnership with a national mortgage banker association.
The National Association of Minority Mortgage Bankers of America (NAMMBA) and Fulton, announced this week that they would be working together as part of Fulton Bank’s commitment to workplace culture and diversity.
NAMMBA will support the bank’s strategy and offer focused training, new hire programs and leadership development, with the goal of developing a more diverse mortgage workforce and tackling housing needs in underserved communities.
“By taking this step (Fulton) is broadcasting their intent to create a more diverse and inclusive workplace that reflects the communities they serve,” said Tony Thompson, founder and CEO of NAMMBA.
The Atlanta-based association provides programs and initiatives to introduce minorities and women into the mortgage industry.
According to NAMMBA, 75% of all first-time home buyers will be women, millennials or people of color over the next five years and the three largest diverse borrower groups (Asians, African Americans and Hispanics) generated more than $292 billion of purchase opportunities last year.
Fulton is a $26 billion financial-holding company with over 200 financial centers in Pennsylvania, New Jersey, Maryland, Delaware, Virginia and Washington D.C. Jeff Scheuren, president of Fulton, said that the bank’s partnership with NAMMBA aligns with the company’s goals and provides an additional way to support and develop its mortgage team members.
“This initiative will build on programs we offer across the spectrum of mortgage lending, including those focused on underserved communities and first-time homebuyers,” said Scheuren. “It also aligns with key pillars of our Fulton Forward initiative to enhance our communities through affordable housing and homeownership.”