Clear Capital increases commitment to better serve today’s rapidly changing housing market
ORLANDO, Fla. — July 28, 2021 — The National Association of Minority Mortgage Bankers of America (NAMMBA) today announced a partnership with Clear Capital, a real estate valuation and analytics fintech leader and an important sponsor 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 Clear Capital,” said NAMMBA founder/CEO Tony Thompson, CMB. “Like us, Clear Capital 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 Clear Capital, NAMMBA will support our strategy to engage new diversity programs and leadership development, and position the company to strengthen communities in which it currently conducts business, creating economic opportunity that focuses on business development for minority brokers, appraisers, and real estate agents while advancing fair housing practices in our industry.
According to NAMMBA, over the next five years, 75 percent of all first-time homebuyers 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.
“NAMMBA is an amazing organization that is creating positive change in our industry,” said Kenon Chen, executive vice president of corporate strategy at Clear Capital. “This partnership is an important piece of our people-first approach. From recruiting to the way we think about product development, diversity and belonging are at the heart of the impact we want to create.”
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. For more information, visit NAMMBA.org.
About Clear Capital
Our story began in the mountain town of Truckee, California 20 years ago, when we pioneered delightfully simple, web-based valuation technology solutions for an industry relying on paper. Today, we’re grateful to call the nation’s largest banks and financial institutions our customers. We’ve grown to more than 700 team members who share and embody our unwavering commitment to build a better way. As we continue our journey to modernize valuation, we’ll hold on to our promise from day one: to go wherever it leads and do whatever it takes to serve our customers with remarkable technology and uncompromising service. Discover more at ClearCapital.com.
Chief Development Officer
Laura Grace Pustmueller
Caliber Corporate Advisers for Clear Capital