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UNITED MORTGAGE BANKERS OF AMERICA, INC.

[[image - outline of the United States of America with the letters "umba"]]

[[image - black and white photograph of a man with glasses wearing a suit and tie]]
[[caption]] DEMPSEY J. TRAVIS, president of the United Mortgage Bankers of America, opened the midwinter conference of the minority mortgage bankers group with a stinging attack on the recently imposed 18-month freeze on Federal housing subsidies.
The moratorium "will add a 25-year deficit to the black housing market," said Mr. Travis, who is also president of the Sivart Mortgage Corporation in Chicago, the nation's largest black-owned mortgage banking company. "The moratorium will restore conditions for more exploitation and regression."
The banker told his audience at the Waldorf-Astoria Hotel that there are other institutions-such as the postal service, the rail transportation system and public education-that, like the housing program, need overhauling. But "the idea of closing down the post office for a lengthy period while rethinking the problem would cause a national catastrophe," he declared [[/caption]]

ANNUAL CONVENTION

Washington, D.C.

SEPTEMBER 27, 1974

with the 

Next Mid-Winter Conference

being held again at the 

Waldorf, February 7, 8, 9, 1975

The need for a Black Mortgage Banking Association became obvious in 1960 when it was impossible for a Black man to get membership in either the Mortgage Bankers Association of America or any of its local subsidiaries. Hence, if the Black man was to become a viable moving force in the industry, his only vehicle would be through an organization that would be espousing his cause.

In Boston, on August 20, 1961, a meeting was held at the suggestion of Mr. Travis and Mr. Charles L. Warden, President of the National Association of Real Estate Brokers, that a committee be set up for the purpose of surveying the lending practices of the life insurance companies of America. The committee members were as follows: Adger A. Jackson, Chairman, Philadelphia, Pennsylvania; J. W. Robinson, Houston, Texas; David M. Greenup, New Orleans, Louisiana; Dempsey J. Travis, Chicago, Illinois; L. B. Jett, Cleveland, Ohio; Paul D. Brown, Long Island, New York.

Of these 6 members, only one was an FHA approved mortgagee - Dempsey J. Travis.

A survey was done by the committee of some 25 life insurance companies. As a result of this survey, at the next annual meeting which was held in August 1962 in Dallas, Texas, it was suggested by Mr. Travis that a new arm of the National Association of Real Estate Brokers be established in order to implement any future surveys in the mortgage industry. In other words, simply making a survey without having the Black Mortgage Banking institutions to implement the result would, of course, be meaningless. Therefore, on August 14, 1962, Mr. Travis made a plea before some 500 real estate men at the Dallas, Texas Convention inviting them to join a proposed new black mortgage banking trade association which would be an arm of the National Association of Real Estate Brokers. Out of this group of 500, nineteen persons expressed an interest in the mortgage banking business as a result of their past experience as mortgage brokers, or experience in the Savings and Loan or Commercial Banking industry.

An Illinois charter as a non-profit organization had been issued and was introduced by Attorney George W. Crank, who subsequently was appointed General Counsel. The members elected to officers at that meeting were: Dempsey J. Travis, President and Chairman of the Board; J. W. Robinson, Senior Vice President; Joseph T. Bickers, Secretary; Robert L. Hughes, Assistant Secretary; William Hudgins, Treasurer; Attorney George W. Crank, General Counsel.

The United Mortgage Bankers of America (UMBA) has open membership and has extended invitations to whites as well as blacks to join. At this writing, there are 50 mortgage companies who are members of the association. Fourteen of the 50 are FHA approved mortgagees. Although the MBA doors are now open for any qualified Blacks who seek membership, it is the consensus of UMBA that our organization must continue to address itself to those problems that are unique and relevant to the black community. We justify the continuation of UMBA because of the indigenous identification with the black community and its intimate knowledge of the problems and in many instances, the cures. It was found in our research and investigation that in addition to the technical training needed to be a mortgage banker, there are specific, ethnic inputs necessary in order to make the operator of the mortgage company in a black community responsive to its needs.

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