Profiles in Diversity Journal Honors New American Funding's New American Dream Initiative
New American Funding, a leading lender to underserved communities, has been recognized multiple times by Profiles in Diversity Journal for the company’s diversity efforts.
The company was one of six winners of the publication’s 18th Annual Innovations in Diversity Awards, which honor corporations, organizations, and institutions that have developed innovative solutions in the areas of workforce diversity, inclusion, and human equity. New American Funding was recognized for its New American Dream initiative, which works to help the Black community realize the dream of homeownership.
In addition, Profiles in Diversity Journal also honored five of New American Funding’s leaders as Black Leaders Worth Watching. Of the 42 total honorees, five are New American Funding team members. In fact, New American Funding has more winners this year than any other company.
Charles Lowery, Director of Legislative Policy and External Affairs; Michael Moseby, Sales Manager & Co-Chair, New American Dream; John Drumgoole Jr., Vice President of Community Lending; Kim Arrington, Diversity & Community Engagement Director; and Nisaa El-Hasan, Senior Loan Consultant; were all honored as Black Leaders Worth Watching for 2021.
The award program honors individuals “who, through their advocacy, perseverance, legacy, or professional achievements, has addressed racism and bias.”
Each of the honorees play key roles in the company’s New American Dream initiative, which aims to provide racial equity and build consumer confidence through home buying education, accessibility to credit, and mortgage industry career opportunity awareness to Black communities.
The initiative, which was established in 2016, has helped New American Funding become a leader in lending to the Black community. In 2020, the company’s percentage of purchase lending to Black borrowers was 85% more than the industry’s percentage, based on the 2020 HMDA data.
“We are proud of what we have achieved with New American Dream, but we know there is much more work to be done,” New American Funding Co-Founder and President Patty Arvielo said. “Together, we are working to help deserving individuals secure their financial future and build generational wealth that will uplift families for years to come.”