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Mortgage Bankers Association Helps Build Habitat House in D.C.

Mortgage Bankers Association Executives Help Build Habitat for Humanity House During Annual Convention in D.C.

WASHINGTON, March 8, 2003 – Mortgage Bankers Association of America (MBA) executives will spend today building on four Habitat for Humanity houses in Silver Spring, Md., to kick off MBA’s Annual Leadership Conference in Washington, D.C. MBA and its members are sponsoring one of the homes, and are dedicating this leadership build in honor of U.S. Sens. Barbara Mikulski and Paul Sarbanes of Maryland, in thanks for their effective and tireless efforts on behalf of families across the nation who are in need of affordable housing.

MBA will help build part of a four-townhouse unit in the Forest Glen area of Silver Spring, Md., in partnership with Habitat for Humanity of Montgomery County. Four families will occupy the townhomes, and each will be paying a no-interest, no-profit mortgage. The Rodriguez family, who will live in the MBA-sponsored home, joined in today’s build and look forward to moving into their new home in the coming months.

“Habitat for Humanity is grateful for the opportunity to partner with the Mortgage Bankers Association to further our goal that every family have the chance to experience the American dream of homeownership,” said Tom Jones, vice president of Habitat for Humanity International. “Habitat and MBA have a productive partnership that enables Habitat for Humanity to provide more decent, affordable homes to those in need.”

“MBA and its members are proud of our commitment to affordable housing in America and of our ongoing relationship with Habitat for Humanity,” said John A. Courson, chairman and CEO of Central Pacific Mortgage. “Statistics have shown that homeownership is the foundation upon which America’s communities are built. Our commitment to Habitat for Humanity is an extension of our greater role as an industry.”

MBA and its members have contributed more than $1.5 million to Habitat for Humanity affiliates in more than 20 states around the country over the past five years and have sponsored houses in host cities for its national convention, including Chicago, Boston and Toronto.

MBA is sponsoring the Rodriguez family’s home in partnership with several of its member organizations, which include Central Pacific Mortgage Company, Chevy Chase Bank, First Horizon Home Loan Corporation, Gallagher Financial Systems, MidAmerica Bank, FSB and PMI Mortgage Insurance Company.

“PMI’s support for Habitat for Humanity extends from my office down through the company,” said Roger Haughton, chairman and CEO of the PMI Group Inc. “Our partnership with Habitat is an integral part of PMI’s commitment to helping low-and moderate-income families achieve the American Dream.”

“One of our major roles is to help more Americans, including low-and moderate-income families, achieve homeownership,” said Jerry Baker, First Horizon Home Loans president and CEO. “In addition to our $40 billion Home of the Horizon commitment to Fannie Mae, we’re increasing our participation in Habitat for Humanity. They have a tremendous history of providing housing through organizing volunteers across the nation.”

Habitat for Humanity International is an ecumenical Christian ministry dedicated to eliminating poverty housing. Founded by Millard Fuller, along with his wife, Linda, Habitat for Humanity International and its affiliates in more than 3,000 communities in 87 nations have built and sold more than 125,000 homes to partner families with no-profit, zero-interest mortgages.