CONVERGENCE Memphis is an initiative led by the Mortgage Bankers Association and Tennessee Housing Development Agency to increase African American homeownership in Memphis, Tennessee. We seek to move the needle on African American homeownership within several Memphis neighborhoods, such as Frayser, Glenview, and Whitehaven. In these communities, CONVERGENCE Memphis efforts are amplifying existing local resources and deploying additional national and state resources to complete several workstreams.

Our Goals

  1. Amplify the outreach and counseling efforts of the Memphis affordable housing industry to increase the number of African Americans that are Mortgage Ready, and purchasing in Memphis communities.  
  2. In the target communities, facilitate neighborhood revitalization that increases efforts to improve the existing supply of affordable housing and promotes an equitable and accessible housing finance system to make investments.
  3. Focus outreach on sustainable homeownership and preservation through strategies to sustain generational financial well-being.


Information/Trust Gap: We will debunk common myths and misperceptions that are causing residents to self-select out of the homeownership market and inhibiting them from interacting with formal players in the homebuying chain (financial institutions and others). 

Market Gap: We will facilitate better market intelligence around the highest and best use of property and parcels in anchor communities.  

Resource Gap: We will attract additional capital from the public, private, and philanthropic sector to address current shortfalls in homeownership subsidies.  

Rehab Product Awareness: We will improve awareness for consumers and industry practitioners around the availability of mortgage products for renovation/rehab.  

Down Payment Assistance Awareness: We will ensure that industry practitioners are aware of key down payment assistance programs and other financial programs/tools to utilize them to their full potential. We will identify and address areas of friction in the use of key programs so that they are made more user friendly for industry practitioners.  

Financial and Estate Planning for African Americans: We will promote financial and estate planning for African Americans to preserve property ownership to contribute to wealth building and home buying.  

Financial Awareness/Empowerment: We will promote general financial awareness and literacy and workforce opportunities in the financial services among young students in African American communities to empower them with knowledge for future homeownership.

Contact Us

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