Mortgage Bankers, Mayors Expand Partnership
Christopher "Kit" Sumner, CEO and President of Crossland Mortgage and President of the Mortgage Bankers Association of America, addresses the U.S. Conference of Mayors 2000 Leadership meeting in Boise, ID, September 14, as Knoxville Mayor Victor Ashe, right, looks on. Sumner updated the mayors on MBA's partnership with the Conference to identify smart growth and housing policy initiatives that the two organizations can present to the next administration. As part of the effort, Charlotte Mayor Patrick McCrory and Rochester Mayor William Johnson have held policy roundtables in their cities with their local mortgage banking industry. Sumner also described an innovative MBA first-time homebuyers assistance program launched with Albany Mayor Gerald Jennings in June. The program a collaboration of the city of Albany, Fannie Mae and local mortgage bankers will provide over two-hundred homebuyers with down payment assistance of between $2,000 and $5,000. Sumner invited mayors to work with the MBA/Conference partnership to expand the program to other cities.