ONTARIO, Calif.--(Minority Business Development Agency last week honored Clem Ziroli Jr., President of First Mortgage Corporation (FMC), as the Agency’s Finance Champion of the Year, an annual award presented to the organization or individual who has demonstrated “outstanding leadership in the financial arena by providing financing to predominantly underserved communities.”)--The
“outstanding leadership in the financial arena by providing financing to predominantly underserved communities.”
The Agency celebrated the achievements of minority entrepreneurs as well as individuals and organizations that show commitment to advancing minority business enterprises during their Minority Enterprise Development (MED) Week Awards Luncheon on Oct. 25 in Rancho Cucamonga.
Ziroli was honored for his commitment to help underserved borrowers achieve the dream of home ownership in today’s difficult lending environment. FMC is a residential mortgage lender with offices throughout the West. The company has helped nearly 100,000 families obtain homes since it began operations in 1975. Roughly 70 percent of FMC’s loans are to underserved borrowers.
“Many deserving families in our area are being excluded from the home buying process due to unnecessarily-high FICO standards set by major lenders. This hurts not just individual borrowers but our communities as well, since none of us will see economic recovery without stimulating a housing recovery. It’s imperative that we defend the right of all credit-worthy borrowers to obtain home loans,” said Ziroli.
In addition to serving as President of FMC, Ziroli is a member of the board of directors of the California Mortgage Bankers Association (CMBA) and a member of the Community Mortgage Banking Project (CMPB).
First Mortgage Corporation (FMC) is a residential mortgage lender licensed in the State of California by the California Department of Corporations. FMC is licensed in 10 states with branches throughout the West. As a top-ten FHA lender in the State of California, FMC has helped more than 100,000 families realize the dream of home ownership. FMC offers conventional, FHA, VA, CHF Access (99.5% CLTV loans), CalHFA, CHDAP, jumbo/non-conventional, manufactured home, Platinum and Energy Efficient Mortgage (EEM) programs.