New American Funding Honored as a Leader in Diversity
- Dec. 10, 2020
Mortgage lender New American Funding is proud to announce that the company has been honored as a winner of the “Innovations in Diversity Awards” from Profiles in Diversity Journal for the first time.
The program, which is in its 17th year, honors corporations, organizations, and institutions that have developed innovative solutions in the area of workforce diversity, inclusion, and human equity.
New American Funding’s inclusion in this prestigious and exclusive list marks the lender as a business leader in diversity.
New American Funding was honored for its New American Dream initiative, which seeks to raise awareness and increase homeownership in Black communities by building confidence through home buying education programs and increasing accessibility to various loan programs.
New American Funding created New American Dream in 2016 after seeing great success with its Latino Focus initiative, which enhances the lending experience among Hispanic consumers and enriches the Hispanic community through homeownership.
As a result, New American Funding has long outstripped other large lenders in lending to minorities. New American Funding's purchase lending in 2020 is 44.9% more than the industry percentage in lending to minorities, based on the 2019 Mortgage Market Activity and Trends Report from the CFPB.
The company also invests heavily in mortgage professionals who are equipped to work with minority borrowers. Currently, approximately 45% of the company’s workforce are minorities.
“It has long been our mission to increase homeownership opportunities for all underserved communities,” New American Funding Co-Founder and President Patty Arvielo said. “We’re honored to be recognized by Profiles in Diversity Journal, but there’s more work to be done. Our goal is to make sure that every person who can buy a home is able to do so.”
To learn more about New American Funding’s New American Dream initiative, click here.