The Mortgage Industry Foundation’s primary purpose is to promote better educated consumers and work force at all levels in mortgage lending and its related fields. To fulfill this purpose, the Foundation provides financial aid for mortgage lending education on a non-discriminatory basis in two categories:
- Grants to organizations for the underwriting of educational symposiums or seminars shall be made based upon a determination of overall contribution to the mortgage related industries and/or consumer education. Please contact the Foundation to initiate application.
- Grants to individuals shall be made on a demonstrated financial need basis and shall be awarded without regard to race, gender, national origin, age, or religious affiliation.
Individual grants will be made on an 80%/20% Foundation/Applicant participation basis, i.e. the Applicant will be required to invest 20% of his/her own funds.
Individual grantees will be requested to provide demonstration of completion of the funded course of study. Officers, members of the Board of Directors and their relatives shall not be eligible recipients of funds from the Mortgage Industry Foundation.
Following approval for funding, the Grants Review Committee shall notify the applicant in writing. The Applicant shall deposit his/her required investment into the Foundation’s designated account and the institutional enrollment form shall be forwarded to The Foundation Treasurer. The Treasurer will draw the appropriate check for the registration fee and send it with the enrollment form directly to the registrar of the educational institution. A letter to the educational institution will accompany the enrollment, requesting that the Foundation be notified regarding the student’s completion of the funded course of study.
To apply for a grant please submit, as appropriate, the following items to the Grants Review Committee:
- Completed Grant Application form
- Completed institutional enrollment/application form
- Statement of 150 words or less describing financial need and career and educational goals
- Two letters of recommendation
If you have any questions as to the appropriate documentation to accompany your application, please contact us.