New American Funding Makes Scotsman Guide’s Top Mortgage Lender List
For the 9th straight year, New American Funding has been rated as a top mortgage lender on Scotsman Guide’s Top Mortgage Lenders List, the industry’s premier ranking. Rising from #8 in retail volume in 2019, the company ranked #7 in 2020, and improved from #17 in Overall Volume to #13. The company also finished #10 in Non-Qualified Mortgage (Non-QM) Volume, which offers a unique option for those who are self-employed, with non-traditional incomes, or have assets and no income.
Scotsman Guide, the leading resource for mortgage originators, created its 9th annual listing based on comprehensive, verified 2020 loan data of the nation's top-producing mortgage companies.
Responding to unprecedented consumer demand for historic-low mortgage rates, the company hired 2,776 new employees in 2020 and doubled its origination volume from 2019 to $30.5 billion last year. In total, New American Funding helped more than 104,000 individuals and families buy a home or refinance their existing mortgage.
Today, the company’s servicing portfolio stands at 197,000+ loans for $51.4 billion.
“It’s always a tremendous honor to be ranked as one of the nation’s top mortgage lenders by Scotsman Guide,” said CEO Rick Arvielo. “We serve purchase and refinance customers and the underserved communities with knowledge, transparency, and efficiency in helping them achieve the dream of homeownership.”
Enhancing its market reputation, New American Funding currently has 174,000+ online reviews for an overall rating of 4.9/5.0 stars and an A+ rating with the Better Business Bureau. The company recently earned Fannie’s Mae’s Servicer Total Achievement and Rewards™ (STAR™) award and continues to be one of the largest privately held retail lenders to Hispanics and Blacks. Last year, 36% of the company’s home purchase originations went to minorities vs. the national average of 25.5%, according to HMDA data.