CBC Mortgage Agency has promoted Miki Adams to president, the company announced in a press release.
CBC said Adams will be taking over the role from Richard Ferguson, who will work on developing new affordable housing initiatives.
“Homeownership is a cornerstone of the American dream and critical to building intergenerational wealth,” Adams said. “It's a passion and privilege to continue working on behalf of this value for underserved in our nation.”
Adams, who previously served as executive vice president of CBCMA, has 30 years of mortgage lending experience and has managed companies through calm and tumultuous markets. Her background includes credit and collateral underwriting, secondary marketing and portfolio asset management, regulatory compliance, and regulatory audit and examination management.
“I’m excited to hand the reins to Miki,” Ferguson said. “Her comprehensive experience in the residential mortgage business combined with her commitment to closing the homeownership gap in America has been instrumental in enabling CBCMA to fulfill its mission.”
“I’m excited about this new partnership and to continue to work with Richard in his new role as our company’s visionary,” Adams said, “Richard’s dedication to reducing racial wealth disparity by creating new opportunities for homeownership through down payment assistance has been inspirational. He exemplifies how idealism and practicality can work hand in hand.”