Southern Bancorp hires Jeremy Davis as president of mortgage company

by Talk Business & Politics staff ([email protected]) 275 views 

Southern Bancorp, a Community Development Financial Institution (CDFI), announced Monday (Aug. 28) the hiring of a president of mortgage, a position that will lead its mortgage company and expand its efforts in the industry. Following a nationwide search, Jeremy Davis of Nashville, Tenn., has been selected for the role.

“The expansion of our mortgage business, with a particular focus on reaching Black and Hispanic prospective homebuyers, aligns with our efforts to help close an approximate 30-point homeownership gap these minority households face when compared to white households. In order to address this long-standing and systemic challenge, we needed a leader with a proven track record of providing affordable and responsible mortgages and homebuyer education to first-time homeowners,” said Darrin Williams, CEO of Southern Bancorp, Inc.

“Jeremy hits the mark perfectly, bringing extensive experience in both building and operating successful mortgage companies focused on minority communities, as well as a passion for this work that we believe will be key as he builds a team of like-minded lenders to serve communities across the South and Mid-South,” he added.

Davis brings to the role more than 20 years of experience in both the mortgage industry and as an advocate for advancing financial equity in under-resourced communities. He previously served as president and CEO of InQlusion Mortgage Capital, a full-service, diversity-focused home lending company with a footprint spanning the entire southeast U.S.

Prior to this, Davis was the director of mortgage at FirstBank, where he and his team won the 2020 National Mortgage Bankers Association’s Diversity & Inclusion Award for market outreach strategies that promoted fair lending and minority housing needs.

“I am honored to join the Southern Bancorp team and to be part of this endeavor to expand our mortgage footprint,” said Davis. “Homeownership is one of the most important ways for families to build generational wealth, and Southern Bancorp has for decades been working to bridge long-standing gaps in the homebuying industry. By expanding our reach and impact in this field, we can further those efforts and help even more families realize the American Dream.”

The mortgage company led by Davis will serve as a standalone division under the Southern Bancorp umbrella, a structure that supports the CDFI’s ability to balance mission and margin. One of America’s oldest and largest community development banks, the organization consists of three separate CDFIs working together, including Southern Bancorp, Inc., a bank holding company; Southern Bancorp Bank, a community development bank; and Southern Bancorp Community Partners, a 501(c)(3) nonprofit loan fund.