CONVERGENCE Memphis Launches New Nonprofit Organization
The Mortgage Bankers Association (MBA) today announced that CONVERGENCE Memphis has launched CONVERGENCE Memphis Inc., a new 501(c)(3) organization created to strengthen ties within the local Memphis community and advance its mission of promoting affordable housing and increasing Black homeownership.
Phyllis Robinson, who has served as a project coordinator for CONVERGENCE Memphis, became Executive Director of the new nonprofit on April 1, 2022. Robinson has over 30 years of experience in federal government service, including 15 years in senior leadership.
“We’re pleased to have someone of Phyllis’ caliber to lead CONVERGENCE Memphis,” said Dorothy Cleaves, Chairman of CONVERGENCE Memphis Inc., and Senior Vice President and CRA Director of Partnerships & Services – Southeast Markets at Truist. “She has a proven track record in collaborating and leveraging resources, which will allow CONVERGENCE Memphis to have continued success throughout the Memphis market.”
In addition to Robinson’s leadership, CONVERGENCE Memphis Inc. will receive support and strategic direction from its Board of Directors. The organization’s Board of Directors is comprised of affordable housing leaders and key local stakeholders in the Memphis community.
The members of CONVERGENCE Memphis Inc.’s Board of Directors are:
- Dorothy Cleaves (Chair), Truist
- Jeremy Less (Treasurer), BancorpSouth
- Brody Wamble (Secretary), Simmons Bank
- Steve O’Connor (Director), MBA
- Manuel Boyadjian, Mortgage Investors Group
- William Chase, Jr.
- Gwyn Fisher, Tennessee Department of Economic and Community Development
- Regina Hubbard, Fast Track Realty
- Jeff McEvoy, Home Surety Title and Escrow
- Ralph Perrey (ex-officio), Tennessee Housing Development Agency
- Marty Regan, Lewis Thomason
- Lauren Taylor, Hyde Family Foundations
- Ted Townsend, Greater Memphis Chamber
- Keith Turbett, First Horizon Bank
- Paul Young, Downtown Memphis Commission
“CONVERGENCE Memphis Inc. will build new relationships and strengthen existing ties with key stakeholders in the community. This new organization is another strategic step toward the goal of developing equitable and accessible housing finance solutions to help close the racial homeownership gap in Memphis,” said MBA President and CEO Bob Broeksmit, CMB.
Launched in March 2020, CONVERGENCE Memphis is an initiative led by MBA and the Tennessee Housing Development Agency to increase Black homeownership in Memphis, Tennessee. CONVERGENCE Memphis has made significant strides in amplifying existing local resources and deploying additional national and state resources such as hosting homebuyer fairs, offering financial education courses, and providing affordable housing practitioners the tools they need to improve their overall outreach strategy to reach both renters and homeowners.
Critical financial supporters of CONVERGENCE include Equity Prime Mortgage, First Horizon Bank, Memphis MBA, MBA, Mortgage Investors Group, Mr. Cooper, Regions, Rock Central, SWBC, Tennessee Housing Development Agency, Truist, and Zillow.
For more information on CONVERGENCE, please click here.