Center for Financial Advancement
A Solution to the Mortgage Industry's Diversity Challenge
The face of the typical homebuyer is changing. People of color will account for four of five of the newly created households over the next decade. The mortgage finance industry will be particularly challenged by this sea-change in demographics. To keep pace, mortgage lenders must attract and retain young, skilled, and diverse talent.
"Diversity is critical to the future success of the mortgage industry. Not only does it strengthen our companies, but it helps us to reach out to an increasingly diverse customer base." Jeffrey Schummer, VP Education Business Development, Mortgage Bankers Association
The Center for Financial AdvancementTM (CFA) is a new program that positions talented students from Historically Black Colleges and Universities (HBCUs) by connecting them to opportunities in the mortgage and real estate finance industry. Students who participate in CFA will engage in power sessions that:
- Elevate their money and credit management skills
- Introduce them to industry leaders
- Explore the benefits of homeownership
Benefits to CFA Sponsor Partners
- Gain market share and greater brand recognition in African American communities
- Attract a pipeline of minority interns and potential permanent hires
- Cultivate a workforce that mirrors homebuyers of today and tomorrow
- Have a better prepared pipeline of millennial buyers and owners of colors
- Get CRA credits
Benefit from a powerful marketing and public relations plans that will:
- Reach more than 2 million families nationwide through positive press, university alumni, and local outreach
- Produce more than 3 million social media impressions using Facebook, Twitter, Instagram and the CFA website
CFA Sponsor Partners
HBCU Students Join CFA Movement for Homeownership, Careers and Financial Education
The Center for Financial Advancement movement was launched on the heels of a recent study that says although more African-Americans than ever are going to college, Black students are still overrepresented in majors that result in the lowest paying jobs. Learn more...
How Are Black Colleges Doing? Better Than You Think, Study Finds
Two researchers’ new study of degree attainment at Historically Black Colleges and Universities versus predominantly white institutions, also known, in the study, as PWIs, found that the chances of graduating in six years for black students are significantly higher at the black colleges, when controlling for key variables.