Wendy Penn has been promoted to vice president for affordable housing initiatives at the Mortgage Bankers Association (MBA).
Penn joined the MBA in 2021 as the associate vice president for affordable housing initiatives. She will continue to lead the overall strategy and execution of CONVERGENCE, including providing oversight of its place-based initiatives in Philadelphia; Columbus, Ohio; and Memphis, Tenn.
She will also work closely with consumer, civil rights, and affordable housing stakeholders and will provide strategic leadership and management of MBA’s housing affordability efforts, including overseeing the work of CONVERGENCE advisory councils, and managing other special projects.
Prior to MBA, Penn excelled in ascending roles at the National Association of Realtors (NAR) for more than 15 years, where she managed its housing opportunity program and worked with its members and state and local associations on housing affordability initiatives. Before NAR, Penn was director, member services, at the National Retail Federation.
Penn is a member of the National Housing Conference’s National Advisory Council, the Up for Growth Action Board, and the LUCAS Home Loans Advisory Board.
In her new role, Penn will lead MBA’s ongoing efforts to develop market-based solutions and strategic initiatives that help to improve affordability for homeownership and rental housing.
“Wendy is a respected and successful leader in the housing affordability space and has an impressive track record before and during her time at MBA in leading initiatives that have made housing more accessible and affordable for all,” says Mike Fratantoni, chief economist and senior vice president of the MBA, in a statement. “Our members will continue to be served well by her outstanding leadership of MBA’s CONVERGENCE initiative and by her innate ability to bring housing leaders together to identify and develop solutions to solve complex challenges in our industry.”