CBC Mortgage Agency (CBCMA) executive vice president Miki Adams has been promoted to president, succeeding Richard Ferguson, who will now focus on developing new affordable housing initiatives.
In her expanded role, Adams will be in charge of leading a team of more than 70 employees in increasing homeownership for low- and moderate-income families.
“Homeownership is a cornerstone of the American dream and critical to building intergenerational wealth,” she said. “It’s a passion and privilege to continue working on behalf of this value for underserved in our nation.”
“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.”
Adams has over three decades of mortgage industry experience and a strong background in credit and collateral underwriting, secondary marketing and portfolio asset management, regulatory compliance, regulatory audit, and examination management.
The appointment came as CBCMA and the National Urban Indian Family Coalition rolled out the Kani Urban Indian Housing Initiative, a program that aims to boost homeownership within the urban Indian community.
“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.”