CONVERGENCE Memphis Launches New Nonprofit Organization

April 12, 2022

The Mortgage Bankers Association announced CONVERGENCE Memphis launched CONVERGENCE Memphis Inc., a 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. Robinson has more than 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, Chair 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. 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, click here.

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