New American Funding expands its Latino Focus initiative for its 10th year
On the 10th anniversary of the Latino Focus initiative, it says that will expand its efforts this year.
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New American Funding, one of the U.S.'s leaders of lending to Hispanic populations, made a new commitment on the 10th anniversary of its Latino Focus initiative by expanding its efforts to help more Latinos fund for housing.
NAF offers numerous homeownership assistance programs for Latino borrowers, while also focusing on hiring bilingual loan officers.
Patty Arvielo, NAF co-founder and CEO, noted:
Working with members of minority communities has always been the role I am most passionate about.
Targeted support for Hispanic buyers
The real estate leader, a first-generation Hispanic-American, has experienced firsthand the challenges members of minority communities face when buying a home. It's a life experience that led her to establish the Latino Focus initiative in 2013.
“Lending to this community is much more than a business decision: It is a personal decision,” added Arvielo.
Latino homeownership by the numbers
NAF highlighted part of a Freddie Mac report that showed Hispanics account for approximately 51% of U.S. population growth since 2010, estimating that they will account for 56% of all new homeowners by 2030.
To support home-buying opportunities among Hispanics and expand the reach of its Latino Focus, NAF is continuing its commitment to lend $25 billion in new mortgages to Hispanic borrowers by 2024.
In 2023, NAF will also expand its team by hiring experienced loan officers across the country to reach as many members of the Hispanic community as possible, highlighting the example of its affiliate in El Paso, Texas, where candidates are required to have a minimum of two years of experience as a fully-commissioned loan officer with a current NMLS license.
We are growing! New American Funding is looking for bilingual & entrepreneurial mortgage professionals to join our El Paso, TX team.— New American Funding (@NewAmericanTeam) March 15, 2023
If you are passionate about making dreams come true and serving your community, please reach out to [email protected]#elpasotexas… https://t.co/wVHlc3h6j3 pic.twitter.com/izb2XS4fjh
Continuing its focus on lending to the Hispanic community, NAF named Caroline Isern as NAF's vice president of Multicultural Lending, who will lead the Latino Focus initiative, among others.
Isern has nearly two decades of experience in the real estate and financial industry, having previously worked in community development, affordable lending, consumer education, project management, and multicultural market programs.
Recognition for supporting the community
“Homeownership is one of the best ways to build generational wealth, so the impact on each minority family that secures a mortgage goes way beyond the house itself. It’s truly an honor to help make that impact on people who just need a little bit of support,” added Arvielo.
NAF's support of the Latino community has earned Arvielo numerous industry awards and honors over the years, including Profiles in Diversity Journal's 2023 Latino Leadership and Diversity Leader Awards.
These awards recognize those who work every day to expand and improve diversity, inclusion and equity in the workplace and beyond.
To learn more about New American Funding and its commitment to lending to underserved communities, click here.