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Initial $1 Million Donation Dedicated to Expansion of Minority and Female-Owned Mortgage Brokerages

Sep 25, 2020 | General, Delegated, Non-Delegated, Broker, Correspondent

Home Point's new charitable community foundation is designed to empower individuals to achieve their dreams by providing investment, education, and support.   

The first $1 million from the foundation will be dedicated to funding 50 new minority and female-owned mortgage brokerages throughout the nation. The initial donation will be distributed through individual grants in coordination with the Association of Independent Mortgage Experts (AIME), as sponsorship of their Spark program, which expands opportunities for women and minorities in the mortgage industry.   

Extension of “We Care” philosophy 

The foundation is a natural extension of Home Point's “We care” philosophy demonstrated by its people-first approach to supporting its associates and wholesale and correspondent partners across the country.  

"At Home Point, we're passionate about expanding opportunities for people from all walks of life interested in participating in the mortgage industry," said Phil Shoemaker, President of Originations at Home Point Financial. "Through this foundation, we're committed to investing our financial and human capital where it's needed most. We look forward to helping people make their entrepreneurship dreams a reality.” 

50 grants to minority and female-owned mortgage brokerages 

This donation from the Home Point foundation will allocate grants to 25 minority and 25 female-owned mortgage brokerages. Awards include one $50,000 grant, four $25,000 grants and 20 $17,500 grants per group.  

To be considered, an application must be submitted that includes a business plan and shows relevant experience in the mortgage industry. Applicants will be reviewed and chosen by a committee comprised of leadership from AIME.  

Learn how to apply for the Spark grant program. 

Read the story on HousingWire.

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