HOME POINT FINANCIAL LAUNCHES COMMUNITY FOUNDATION COMMITTED TO FURTHERING PHILANTHROPIC EFFORTS IN THE MORTGAGE INDUSTRY
Initial $1 Million Donation Dedicated to Expansion of Minority and Female-Owned Mortgage Brokerages Through Sponsorship of AIME's Spark Program
ANN ARBOR, MICHIGAN — SEPTEMBER 25, 2020 – Home Point Financial, one of the nation's leading mortgage lenders and servicers, today announced the launch of their charitable community foundation. The foundation's goal is to empower individuals to achieve their dreams by providing investment, education, and support. Home Point will dedicate its first $1 million from the foundation to funding 50 new minority and female-owned mortgage brokerages throughout the nation.
"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.”
The initial $1 million in grant money will be distributed 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. The partnership was announced today at AIME’s National Fuse Conference. Working together, Home Point and AIME are committed to increasing diversity and inclusion in the mortgage industry.
"We've seen incredible growth in the broker community since AIME started a few years ago and want to continue the momentum by supporting a more diverse and inclusive landscape," said Katie Sweeney, Executive Vice President of Strategy at AIME. "We're thrilled to receive this generous investment from Home Point’s community foundation. The donation will go a long way in helping minority and female broker owners build their businesses.”
In total, 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. The funding amount will be based on state-required resources for operations. For more information on the AIME Spark program, visit www.aimegroup.com/spark.
About Home Point Financial
Home Point is on a mission to create financially healthy, happy homeowners. Our customer-first approach to lending starts with compassionate people that help eliminate the stress of getting a loan and owning a home. Beyond the loan, Home Point empowers customers to get the most value from their home investment by offering expert advice and exclusive savings. Home Point is the third-largest wholesale lender and the 12th largest correspondent lender in the U.S. The company is headquartered in Ann Arbor, MI with nearly 2000 employees and 265,000 serviced customers. For more information, visit homepointfinancial.com.