Lender challenges industry with donation

by Donald Horne04 Dec 2015
Helping families with a critically ill or injured child to make mortgage or rent payments is the concept behind the Mortgage Bankers Association Opens Doors Foundation – and one lender has thrown down the gauntlet to the industry with a record-setting donation.

“It’s a six-figure number, that’s all we’re saying,” says Andrew Rippert, CEO of the Global Mortgage Group at Arch Capital Ltd. “We won’t say specifically – but we’d love for someone in the industry to beat us.”

The donation by Arch Capital Group and Arch Mortgage Insurance Company – a provider of private mortgage insurance and a wholly owned subsidiary of Arch Capital Group Ltd. – will go towards helping those facing housing challenges associated with the significant cost of medical care for a seriously ill or injured child.

“We have a family culture, and we feel a duty to give back and be a part of the community,” says Rippert. “This is one way we can help.”

Being socially responsible has taken on a new importance for companies, and can be a powerful draw for millennials consumers and, indeed, job seekers.

For Rippert, it is a way of ensuring that the mortgage is one less concern for a family facing a difficult time in their lives.

“We believe in helping families realize the dream of homeownership and are pleased to support a foundation that aligns with Arch MI’s culture and its focus on the value of family,” said Rippert. “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, reflects the essence of our own mission.”

To learn more about Opens Doors, see “Mortgage pros raise cash for needy families


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