Keystone Mortgage Academy celebrated the first graduates of a nearly 4-month training program. The 11 newly certified mortgage loan officers in Denver are on a mission to close the home ownership gap for people of color.
Prime Mortgage President Janine Kempfer started the academy in September in hopes the graduates will work in communities of color as both lenders and advocates.
“If you go all the way back to 1968, when the Fair Housing Act was passed, it's still about a 30% gap [between black and white homeowners],” Kempfer said.
Kempfer said mortgage loan officers who understand historical discrimination may be more willing to advocate for borrowers of color. She said it’s important for lenders to understand the programs and assistance available for minorities.
Keystone graduate Malcolm Quattlebaum hopes to expand home ownership for people in his generation because it’s a way to build wealth.
“It’s less about closing homes and more about changing lives and closing the wealth gap and the housing gap,” Quattlebaum said.
Eight of the graduates will be employed at Prime Mortgage. There are plans to start another session of the academy. The program is free thanks to philanthropic contributions and partners, including Denver Public Schools, which allowed the classes to be held at George Washington High School.
