The Mortgage Bankers Association presented the Diversity and Inclusion Residential Leadership Award for Market Outreach Strategies to New American co-founders Patty and Rick Arvielo Sunday. It was recognized for its Latino Focus Committee and New American dream – two programs aimed at serving underserved communities across the country.
“It’s an honor to receive this recognition. We’re passionate about making an impact,” New American Funding President Patty Arvielo said. “We believe it’s our responsibility to develop effective programs that equip more hard-working Americans with the opportunity to become viable homeowners.”
Arvielo established both initiatives with a goal of serving underserved consumers.
Latino Focus was founded in 2013 and was aimed at providing affordable home ownership opportunities to the Hispanic community. Earlier this year, New American Funding pledged to lend $25 billion in new mortgages to Hispanic borrowers by 2024.
New American Dream was founded as a way to educate African-American consumers about relevant home options.
“Due to her role as a national housing advocate, earlier this year, CFPB appointed Arvielo to its Consumer Advisory Board,” New American Funding said in a release. “She’s also a member of the Corporate Board of Governors for the National Association of Hispanic Real Estate Professionals; and in 2016, LA Times recognized Arvielo’s contributions by honoring her with its Latinos de Hoy Business Award for stellar leadership and service.”
New American Funding took home the Leadership Award for Diversity and Inclusion at MBA’s annual convention and expo.