The “New American Dream”

by Heather Turner22 Aug 2016
Two weeks ago, New American Funding (NAF) announced the formation of a new program, New American Dream, geared at raising awareness and increasing homeownership in African-American communities across the country.
Leveraging their experience gained from servicing Latino communities nationally, NAF is now focusing its attention to another underserved American community. “I thought, if we were so successful in the Latino community, I should be as successful with the same recipe in the African-American community,” said Patty Arvielo, president. Since NAF began dedicating its time four years ago to assisting Latinos in their path to homeownership, it has become one of the largest loan providers to Hispanic communities in the nation, with one of the industry’s largest sales force dedicated to serving that demographic. 
Due to that incredible success, NAF is now teaming up with NAREB, the National Association of Real Estate Brokers, and the Consolidated Board of Realists, in support of their New American Dream initiative.
“We were falling short in the African-American community, mainly because of the demographic of where our headquarters is located,” she said. “I thought that this is my calling, to show everybody that this is something that can be done as long as you put a face to it, motivate and set goals, and as a team we have generated a lot of excitement around this initiative,” she said.
A few months ago, Arvielo and her team at NAF began devising the New American Dream initiative, with the goal of serving African-American communities and addressing the issues those areas face when seeking homeownership. “Our goal is to open our first branch in an underserved primarily African-American community this year and raise the percentage of loan originators in that space,” commented Arvielo.
“Everybody, no matter what their race, color or nationality is, deserves to own a home. If some demographic is suffering for whatever reason, I need to see what I can do to try to fix it and that is the main goal of this initiative,” she said.  

Related stories:
“Paving the way to homeownership for an underserved market”
“New American Funding opens new office in CA”



Is TILA-RESPA a good or bad thing long term?