CONVERGENCE Partner Profile: Brody Wamble of Simmons Bank
(One in a recurring series about MBA CONVERGENCE, the Mortgage Bankers Association’s affordable housing initiative.)
Broderick “Brody” Wamble is a Community Affairs Officer with Simmons Bank. Brody oversees community reinvestment opportunities and fair lending for mortgage, small business, and agriculture clients across Tennessee. Brody serves as Treasurer of the CONVERGENCE Memphis Board of Directors and co-lead of the CONVERGENCE Memphis Lenders Working Group.
MBA NewsLink: How did you get involved in affordable housing, and why is it important to you?
Brody Wamble: The journey into affordable housing began with myself. I started a family in my early 20’s, graduated college with a budding career in the making. My wife and I heard about a homeownership program that was ‘supposedly’ aimed at helping the underserved build generational wealth through affordable mortgages and financial assistance. We went to the seminars, followed the program protocols and when it came time to make application; it all came to an abrupt stop when one person decided we didn’t fit without any justification. I didn’t take their denial as the end to our journey but a beginning to help ourselves and others.
That was the spark that set off my mortgage career. I began working for a local broker during the “Wild West” days of lending. I was closing loans but didn’t understand the what’s and why’s of lending. In an effort to learn, I joined the #1 company in the country at the time: Countrywide. I learned how to sell, but I didn’t gain financial knowledge until working for Wells Fargo Mortgage. From there, my aim was to help people of color become homeowners. Financial education and homebuyer workshops became my focus in getting the word out to LMI communities that homeownership can be a reality.
NewsLink: What has been your most meaningful accomplishment or experience since working with CONVERGENCE?
Wamble: The idea of a ‘Mortgage Menu’ came to mind to help make homebuyers aware that there are loan options outside of traditional mortgage products. A lot of banks have niche products and programs to help underserved communities but there’s no way to know unless potential buyers reach out to each lender. A consolidated loan grid allows borrowers to apply for loans specific to their needs. It’s a targeted approach to help potential homeowners explore options.
NewsLink: What CONVERGENCE initiative or project are you most excited about for the future?
Wamble: I’m happy to see the first round of homes in Whitehaven come together. We’re working on a pocket of housing that will serve as the epicenter of affordable housing. The idea of doing one thing, perfecting it, then replicating the model comes to mind.
NewsLink: What else would you share with MBA members who want to learn more about CONVERGENCE?
Wamble: The literal definition of CONVERGENCE is when 2 or more things come together to make a new whole. Therefore, I want to inspire the idea of HOPE. I would ask inquiring MBA members to bring their individual gifts and work in unison to create new ideas and efforts that improve minority homeownership. Let’s design a mindset of excellence so we create our own change instead of depending on someone to do it for us.
Each of us has the power to be the change we want to see. Let’s remove egos, pride and self-imposed barriers to work in harmony towards a common goal.
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CONVERGENCE is driving collective action with lenders, other industry participants and government partners to facilitate new solutions to our nation’s rental and housing affordability challenges. By using a cohesive approach, CONVERGENCE promotes more sustainable, affordable homes for purchase and rental for underserved people and communities, especially minorities and low-to-moderate-income Americans.
For more information, visit https://www.mba.org/advocacy-and-policy/convergence or contact affordablehousing@mba.org.
