The National Association of Minority Mortgage Bankers of America (NAMMBA) announced today a partnership with regional real estate law firm, Touchstone Closing, an important gold sponsor in NAMMBA’s effort to affect positive change with the housing needs of underserved communities and with the development of a more diverse mortgage work force.

“We’re extremely excited to partner with Touchstone Closing,” said NAMMBA Founder/CEO Tony Thompson, CMB. “They are making a strong commitment to diversity and inclusion, and a leadership team that is committed to representing all the communities in which it does business.”

Through this partnership with Touchstone Closing, NAMMBA will roll out a comprehensive strategy to engage Touchstone Closing employees via access to focused training, new hire programs and leadership development, and position the award winning firm to support the communities in which it currently conducts business, creating economic opportunity that focuses on business development for minority brokers while meeting the housing needs of underserved areas.

According to NAMMBA, over the next five years, 75 percent of all first-time home buyers will be women, millennials or people of color. Although there is concern across the industry about a stagnant or shrinking housing market, purchase mortgage opportunity is not only growing, it’s changing. According to NAMMBA’s most recent mortgage market forecast, the three largest diverse borrower groups (Asians, African-Americans, and Hispanics) generated more than $292 billion of purchase opportunity in 2020, which amounts to 24.2 percent of all purchase dollar opportunities.

“We are grateful to be associated with NAMMBA in this way, and look to grow a more diverse talent pool that will better represent the Massachusetts population” said John K. O’Donohue, Co-Founder and Managing Partner at Touchstone Closing. “This partnership is an important step forward in building out our commitment to diversity and inclusion for our employees, candidates, consumer clients, and referral partners.”

About Touchstone Closing

Touchstone Closing is a real estate law firm specializing in real estate closings and serving clients throughout New England. The firm is locally owned and has offices in Andover, MA, Boston, MA, Chatham, MA, Newburyport, MA, Reading, MA and Salem, NH. Touchstone Closing was named one of the Boston Business Journal’s exclusive list of Best Places to Work in 2021.

For more information, visit: www.touchstoneclosing.com.

About NAMMBA

The National Association of Minority Mortgage Bankers of America is a purpose-driven organization dedicated to the inclusion of minorities and women in the mortgage industry who are advocates for sustainable homeownership in local communities. To fulfill its mission, NAMMBA provides programs and initiatives to introduce minorities and women into the mortgage industry, including recruiting, advisory, networking and training for enterprises and individual professionals
For more information, visit: http://www.nammba.org

Jade Winfrey
NAMMBA
8773630340 ext.
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