MBA Opens Doors Announces Major Donation from Arch Capital Group, parent of Arch MI
|(202) 557- 2727|
Donation is the Single Largest in Foundation History
WASHINGTON, D.C. (November 23, 2015) - The Mortgage Bankers Association Opens Doors Foundation (MBA Open Doors) today announced that Arch Capital Group Ltd. (Arch Capital), has made a very generous contribution. MBA Opens Doors is a non-profit organization dedicated to providing assistance to families with a critically ill or injured child by making their mortgage or rent payment. Arch Capital's generous donation has earned them recognition as an Opens Doors Foundation Guardian and is the largest single donation in Foundation history.
"We believe in helping families realize the dream of homeownership and we are pleased to support a foundation that aligns with Arch MI's culture and its focus on the value of family. The Opens Doors Foundation and its mission to provide assistance to families with critically ill or injured children, allowing them to take unpaid leave from work and spend precious time together without jeopardizing their homes, represents the essence of our mission," said Andrew Rippert, Chief Executive Officer of GlobalMortgage at Arch Capital Group, parent of Arch Mortgage Insurance.
"On behalf of everyone working with the MBA Opens Doors Foundation, I want to thank Arch Capital for this generous donation," said Debra Still, CMB, Chairman of the MBA Opens Doors Foundation and President & CEO of PulteMortgage. "From reading the grant applications each month, I have seen how lives are touched by Opens Doors. Through the support of Arch Capital and others, our industry is making a profound impact on those who receive the grants, giving families with critically ill or injured children the gift of spending precious time together."
Arch Capital Group Ltd., a Bermuda public limited liability company, writes insurance and reinsurance on a worldwide basis through operations in Bermuda, the United States, Canada, Europe, Australia and South Africa, with a focus on specialty lines.
For most families, the fear of losing a home is second only to the sense of panic that comes with the need to care for a child suffering from a major illness or injury. The MBA Opens Doors Foundation was developed as an industry association model to help individuals and families facing housing challenges associated with the significant cost of medical care for a seriously ill or injured child.
Opens Doors is currently able to pass 100 percent of the donations it receives on to families in need of assistance. The Foundation's ongoing relationship with Washington, D.C.'s Children's National Medical Center and more recently Children's Hospital Colorado, provides partner organizations to help identify potential grant recipients.
Opens Doors is a 501(c)(3) organization and all contributions are tax deductible. For more information about the Foundation or to make a donation, please go to www.mbaopensdoors.org.
The MBA Opens Doors Foundation was launched in October 2011, with an initial start-up contribution of $50,000 from the Mortgage Bankers Association and with MBA covering all administrative costs of the Foundation. The Foundation's two initiatives assist families with critically ill or injured children by providing mortgage or rental assistance grants to help them keep their homes in the face of significant medical expenses. Having begun by serving families in the Washington, D.C. area, MBA Opens Doors has established a sound operational framework that will enable the Foundation to expand across the United States. Learn more at www.mbaopensdoors.org.