Path to Diversity Scholarship Program
The Path to Diversity Scholarship Program recognizes existing industry professionals who are seeking to advance their careers through continuing education. Recipients receive a voucher to cover course registration fees, up to a maximum of $2,000, for popular MBA Education courses and designation programs, as well as select conferences. This education opportunity enables employees from diverse backgrounds to advance their professional growth and career development.
Scholarships awarded under the Path to Diversity program can also be used towards six upcoming MBA Conferences where attendees can obtain Continuing Professional Education (CPE), Continuing Legal Education (CLE), or Society of Human Resources Management (SHRM) credits. For the full list of eligible MBA Conferences, see the qualified listing of courses and programs below.
MBA recognizes that a strong, responsible, and sustainable real estate finance industry requires a workforce that is reflective of our society at large.
Congratulations to the Path to Diversity Scholarship recipients who received funds during our 2022 Fiscal Year (from October 2021 - September 2022)!
Application Requirements and Eligibility
A completed application requires a resume, personal statement, and a letter of recommendation from a current MBA member in one of the following groups:
- Supervisor/Organization Leadership
- CMB (specifically for CMB applicants)
- National Association of Minority Mortgage Bankers of America (NAAMBA)
- State/Local MBA
- Future Leaders Alumni (specifically for Future Leaders applicants)
- mPact, mPower, or DEI committees (DEI Advisory Committee or Online Community)
In addition, applicants must meet the following criteria:
- Is currently employed by an MBA member firm or state MBA member firm that are current on their dues with MBA
- Has worked a minimum of two years in the mortgage industry, or has broad experience in a related field with some focus in real estate finance, or has post-high school education related to the real estate finance industry, to include training to obtain a license, company-sponsored training, or MBA or other professional education
- Is part of one or more of the following under-represented groups:
- Non-white or bi-racial
- LGBTQ+ Community
Review Timeline and Evaluation Process
Applications are accepted on a monthly, rolling basis, subject to the availability of funds. Scholarship award amounts are based on the selected course registration. Individuals are eligible to receive up to three awards during their careers, with no more
than one award provided per calendar year.
Applications received by the 15th of the month will be reviewed within that month by MBA's Path to Diversity Scholarship Award Task Force. Applicants will receive an "Acceptance" or "Denial" email no later than 30 days after the end of the month in which the application was reviewed. If you are denied, you may reapply at any time.
In order to be accepted, applicants must receive a minimum score of 75 points out of a total of 100. Applications are scored by:
- Personal Statement: 50 points
- Letter of Recommendation: 50 points
Applicants who are U.S. Military Veterans or who are disabled will receive 5 bonus points.
Qualified Courses and Programs
Accepted applicants may use their education funds on any of the following:
- Human Resources Symposium (SHRM)
- Regulatory Compliance Conference (CLE)
- Accounting and Financial Management Conference (CPE)
- Servicing Solutions Conference & Expo (CLE)
- Legal Issues and Regulatory Compliance Conference (CLE)
- Commercial/Multifamily Servicing & Technology Conference (CPE)
Professional Certificates & Designations
- Certified Mortgage Banker (CMB)
- Certified Mortgage Compliance Professional (CMCP)
- Certified Residential Underwriter (CRU)
- Residential Certified Mortgage Servicer (RCMS)
- Commercial Certified Mortgage Servicer (CCMS)
- Chartered Realty Investor (CRI)
- School of Mortgage Banking I: An Introduction to the Real Estate Finance Industry
- School of Mortgage Banking II: Managing Profitability and Risk
- School of Mortgage Banking III: Strategic Planning for Mortgage Bankers
- Introduction to Mortgage Banking
Residential: Loan Production
Residential: Loan Administration
This scholarship is fully funded by our members. It simply would not be possible without your support! Join your industry peers who are already committed to supporting this important scholarship.
As a donor, your company will receive the following:
- Company listed in scholarship fund press release
- Company logo on the MBA’s Path to Diversity web page and program materials
- Recognition on MBA’s social media platforms
In 2022 MBA awarded 167 scholarships totaling more than $148,000!