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Mortgage Bankers Build Their 49th Habitat House

Mortgage Bankers Build Their 49th Habitat For Humanity House During Annual Convention

 

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SAN DIEGO, Oct. 18, 2003 — In an effort to help create affordable housing, members of the Mortgage Bankers Association will pound nails and raise walls on a new Habitat for Humanity home in Escondido, Calif., on Saturday, Oct. 18 at 9 a.m. (PDT). The build will coincide with MBA’s annual convention in San Diego.

The Habitat home will mark the 49th house nationwide that MBA and its member companies have sponsored and built since 1998. MBA’s initiative, entitled “Under One Roof,” empowers state and local MBA associations to partner with Habitat for Humanity to build simple, decent housing in their communities.

“MBA members want to be good neighbors and give back to the community,” said John Courson, MBA chairman; president and CEO, Central Pacific Mortgage Co. “The Habitat build in Escondido is another example of our ongoing efforts to help more families realize the American Dream of homeownership.”

Habitat for Humanity families have built their homes alongside MBA members in past convention locations including Boston and Toronto, as well as other MBA sponsored builds in cities such as Orlando, Houston, Los Angeles and Billings, Mont.

“MBA is making a difference in the San Diego area and across the country by building houses in partnership with families in need,” said David Williams, executive vice president and chief operating officer of Habitat for Humanity International. “We are grateful for their efforts in helping to make simple, decent housing a reality for many families.”

During a short program after the build, John Courson and David Williams will recognize the MBA company sponsors, as well as the new Habitat homeowners, John and Muyuku Kwangaba.

John is a custodian for San Diego City Schools and Muyuku is studying English and stays at home to care for their three children Irene, 6, Mutula, 5, and Lukogo, 2. The family has looked for decent housing since they moved to the United States 10 years ago from the Democratic Republic of Congo. Currently they pay 30 percent of their yearly income on rent for government-subsidized housing. Their new Habitat house will allow John and Muyuku a safe and healthy place to raise their family in a home that they own.

MBA companies involved in sponsoring and building the house include American Mortgage Network, First American Real Estate Information Services, First Horizon Home Loans, Gallagher Financial Systems, GreenPoint Mortgage, New Century Mortgage, Option One Mortgage and the PMI Foundation.

About Mortgage Bankers Association

MBA is the national association representing the real estate finance industry. Headquartered in Washington, D.C., the association works to ensure the continued strength of the nation’s residential and commercial real estate markets; to expand homeownership prospects through increased affordability; and to extend access to affordable housing to all Americans. MBA promotes fair and ethical lending practices and fosters excellence and technical know-how among real estate finance professionals through a wide range of educational programs and technical publications. Its membership of approximately 2,600 companies includes all elements of real estate finance: mortgage companies, mortgage brokers, commercial banks, thrifts, life insurance companies and others in the mortgage lending field. For additional information, visit MBA’s Web site: www.mbaa.org.

About Habitat for Humanity International

Habitat for Humanity International is a Christian ministry dedicated to eliminating poverty housing. Founded in 1976 by Millard Fuller, along with his wife, Linda, Habitat for Humanity International and its affiliates in more than 3,000 communities in 89 nations have built and sold more than 150,000 homes to partner families with no-profit, zero-interest mortgages. www.habitat.org