EMBRACE HOME LOANS WINS DEI AWARD

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Oct 24, 2022, 08:00 ET

Mortgage Bankers Association recognizes top-ranked lender for its leadership in diversity, equity and inclusion in the residential mortgage industry

MIDDLETOWN, R.I., Oct. 24, 2022 /PRNewswire/ -- Top-ranked national mortgage lender Embrace Home Loans announced it has received a 2022 Diversity, Equity and Inclusion (DEI) Residential Leadership Award from the Mortgage Bankers Association (MBA) for developing innovative ways to foster DEI efforts within the organization. The MBA recognized the company in a ceremony yesterday evening at the trade group's annual convention in Nashville, Tennessee.

"We are extremely honored to be recognized by the MBA for our diversity efforts," said Embrace CEO Dennis Hardiman. "Two years ago, we made a decision to do all we could as a company to fight racial discrimination. Since then, we've made measurable progress toward empowering Black and brown homeownership and creating more professional opportunities at Embrace so our team better reflects and captures the value of our country's rich diversity. I'm thrilled to share this award with everyone across the company."

Following the 2020 murder of George Floyd, Embrace launched a task force consisting of employees across all levels of the company that connected racial injustice with economic injustice. John Hartley, who holds a PhD from Yale in sociology and has partnered with local leaders of racial, tribal and religious reconciliation efforts in multiple countries, joined Embrace as a full-time executive consultant to help lead the task force's talented team.

Since then, Embrace created the Wider Path Home Foundation, a non-profit focused on promoting sustainable homeownership among Black, brown and other underserved communities through education, community development and down payment assistance grants. Earlier this year, Embrace also partnered with the 23XI NASCAR racing team owned by former NBA superstar Michael Jordan to help raise money for underserved homebuyers' down payments through Wider Path. To date, Embrace's efforts have yielded a 33% increase in mortgage loans provided to Black homebuyers. The company has given away more than $400,000 in down payment assistance grants.

Embrace also created a coaching program for leaders and new hires that focuses on realizing diversity's value for its teams' growth in adaptability, efficiency and innovation. Senior and frontline leaders co-create the evolving coaching curriculum with Embrace's Diversity Collab. Since the program's launch, more than 50% of participating hires advanced within their first 18 months on the job, and all but one was a person of color.

Embrace's DEI efforts continue.

"We are partnering with communities to build branches in markets that are majority Black and brown. The success metrics of these branches are tied to real results in the number of loans made, commercial viability and the training of future mortgage professionals, rather than symbolic presence or community relations," Hartley said. "We are also better recognizing our Black and brown leaders and supporting their development. Recent wins for Black and brown leaders at Embrace include the promotion of a senior loan officer to branch manager and the incorporation of another senior loan officer's expertise into coaching for branch managers. They earned it."

To learn more about career opportunities with Embrace, please visit www.embracehomeloans.com/about/careers.

About Embrace Home Loans

Founded in 1983, Embrace Home Loans is a prominent mortgage lender that provides borrowers and financial institutions with an exceptional mortgage experience. Licensed in 50 states and the District of Columbia, Embrace has been recognized seven times as one of the Best Medium-sized Companies to Work for in America by Fortune and by Inc. The company has also been recognized 17 times as one of the Best Places to Work in Rhode Island, as the Most Community Involved Company in Rhode Island, and with the Leadership Excellence Award by Providence Business News. Embrace Home Loans is based in Middletown, Rhode Island. For more information, please visit www.embracehomeloans.com.

PRESS CONTACTS:
Henry Drennan
Strategic Vantage Marketing and Public Relations
(615) 497-8358
[email protected]

Mary McGarity
Strategic Vantage Marketing and Public Relations
(203)260-5476
[email protected]

SOURCE Embrace Home Loans