Dream Wired
No Result
View All Result
  • Home
  • Celebrity
  • DramaAlert
  • Gossip
  • Movie
  • TV
  • Music
  • Comics
  • Shop
  • Home
  • Celebrity
  • DramaAlert
  • Gossip
  • Movie
  • TV
  • Music
  • Comics
  • Shop
No Result
View All Result
Dream Wired
No Result
View All Result
Home DramaAlert

National Mortgage Lender Extending $20B In Loans To Black Borrowers Through 2028 –

rmtsa by rmtsa
June 19, 2024
in DramaAlert
0
National Mortgage Lender Extending B In Loans To Black Borrowers Through 2028 –
74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter


You might also like

ABC suspends Jimmy Kimmel’s show indefinitely over Charlie Kirk death monologue – National

A sociological analysis of loved-up couples at the 2025 Emmys by one of TikTok’s favorite culture commentators

Chris Brown Deactivates IG After “Colorist Rage Baiting” Message

National Mortgage Lender Extending B In Loans To Black Borrowers Through 2028 –

by Jeffrey McKinney

June 18, 2024

Program aims to provide access to mortgages and financial resources to help more Black families buy homes.

Aiming to help reduce the homeownership gap, a national mortgage lender has pledged to make $20 billion in new home loans available to Black borrowers by 2028.

As part of that commitment, New American Funding has launched NAF Black Impact, a rebranding initiative formerly called NAF Dream. The lender declares the effort supports Black individuals and the community in their pursuit of homeownership. Starting in 2016, the initiative provided $2.25 billion in loans to Blacks to reach its goal within the next three years.

The remaining $17.75 billion will go to potential Black homebuyers. This includes helping them conquer systemic barriers that have sustained homeownership gaps for many years.

HOMEOWNERSHIP RATE LOWEST FOR BLACK AMERICANS

Some help is certainly needed as Black homeownership continues to fall the most behind the White homeownership rate, according to this report. It showed rate for White Americans in 2021 was nearly 73%, higher than the 44% for Black Americans. The homeownership rate for Black Americans also was lower than for Hispanic Americans and  Asian Americans.

New American Funding (NAF) is an independent mortgage lender with a servicing portfolio of over 263,000 customers, a value of about $69.1 billion, and over 250 locations nationwide. The firm views its fresh action as a “critical step” toward closing the racial homeownership gap.

Company Co-Founder and CEO Patty Arvielo stated, “For us, this is much more than a rebranding of the initiative. This was a necessary step to demonstrate our responsibility to the Black community.”

She added, “NAF Black Impact means that we commit to providing access to mortgages and financial resources to help more Black families achieve homeownership. By providing the necessary support, we believe that we can make a difference and create a more equitable society for all.”

 NAF Black Impact told BLACK ENTERPRISE that in 2023, lending to Black borrowers made up 12% of its total loans. The firm added that lending through the first five months of 2024 was relatively equal to 2023. Of those loans, 70% were government loans (FHA and VA), and 30% were conventional. While the 12% figure mirrors the U.S. Black population rate, the company stated it could push to do more and see an annual increase at NAF of 1-2% this year.

ADDRESSING UNIQUE NUANCES BLACK COMMUNITY FACE

   NAF declares that its pledge to the Black community differs from that of other lenders because it customizes processes and programs specifically to address the unique nuances of “buying a home while Black.”

  Mosi Gatling, NAF Senior Vice President of Strategic Growth, says the business has consciously decided to approach lending to the Black community in a way that is just as diverse as the people.

  “The industry in the past has pigeonholed Black homeownership as “assistance or affordable housing,” but Black ownership is much more than that, and the Black community deserves an experience from application to closing that is more than they’ve been provided in the past.”

EVOLVING AND PROVIDING FAMILIES MORE SUPPORT

    For instance, Gatling shared that her firm can help Black Americans buy a home in cash to compete with investors buying homes in their community. She added that the NAF Black Impact Housing Advocate Certification program allows real estate agents and builders who partner with the firm to meet the Black community where they are and remove the unconscious bias that still occurs in 2024.

 The business report will also provide the Black community with access to educational resources, products, services, partnerships, and in-market support to drive sustainable home buying and investment purchase goals.

Gatling reflected, “It’s time to evolve because Black homeownership isn’t a one-size-fits-all. Buying a home shouldn’t project poverty or revictimize a group of people that we are claiming to serve.”

  She said, “We want NAF to become where all Black families feel comfortable and supported in their homeownership. We want them to know that NAF is here for them.”

  Gain more details about the program here and apply at this place.

 



Source link

Tags: 20BBlackBorrowersExtendingLenderLoansMortgageNational
Share30Tweet19
rmtsa

rmtsa

Recommended For You

ABC suspends Jimmy Kimmel’s show indefinitely over Charlie Kirk death monologue – National

by rmtsa
September 18, 2025
0
ABC suspends Jimmy Kimmel’s show indefinitely over Charlie Kirk death monologue – National

ABC has suspended Jimmy Kimmel’s late-night show indefinitely after comments that he made about Charlie Kirk’s killing led a group of ABC-affiliated stations to say it would not...

Read more

A sociological analysis of loved-up couples at the 2025 Emmys by one of TikTok’s favorite culture commentators

by rmtsa
September 17, 2025
0
A sociological analysis of loved-up couples at the 2025 Emmys by one of TikTok’s favorite culture commentators

The Emmys red carpet is always about more than just fashion — it’s where Hollywood couples put their relationships on display. To help make sense of what those...

Read more

Chris Brown Deactivates IG After “Colorist Rage Baiting” Message

by rmtsa
September 17, 2025
0
Chris Brown Deactivates IG After “Colorist Rage Baiting” Message

Not even two days after Chris Brown and Kayla Nicole broke the internet, he’s taking a break from it. The superstar, who is touring in the U.S. right...

Read more

Congratulations! Cardi B Pregnant By Stefon Diggs

by rmtsa
September 17, 2025
0
Congratulations! Cardi B Pregnant By Stefon Diggs

Source: Elsa / Getty Oh, baby! Cardi B is pregnant! The Am I The Drama? rapper confirmed on CBS Mornings that she’s pregnant with baby number four, her...

Read more

Actively Black’s NYFW Experience Blends Fashion, History, and Black Excellence • Hollywood Unlocked

by rmtsa
September 17, 2025
0
Actively Black’s NYFW Experience Blends Fashion, History, and Black Excellence • Hollywood Unlocked

Actively Black’s NYFW Experience, presented by Mielle Organics, was not your average runway show—it was a full-blown celebration of culture, history, and legacy. Titled “This Is Not a...

Read more
Next Post
Fontaines D.C. share jangly new single “Favourite”

Fontaines D.C. share jangly new single “Favourite”

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Browse by Category

  • Celebrity
  • Comics
  • DramaAlert
  • Gossip
  • Movie
  • Music
  • TV
  • Uncategorized

CATEGORIES

  • Celebrity
  • Comics
  • DramaAlert
  • Gossip
  • Movie
  • Music
  • TV
  • Uncategorized
No Result
View All Result

Recent News

  • Hi /r/movies! We’re Rich Williamson & Shasha Nakhai. Our film BOTS just premiered at TIFF and is now available for free on YouTube. We also made SCARBOROUGH (TIFF People’s Choice Runner Up in 2021), TAKE LIGHT, and FRAME 394. Ask us anything!
  • ABC Pulls Plug On Jimmy Kimmel ‘Indefinitely’
  • ABC suspends Jimmy Kimmel’s show indefinitely over Charlie Kirk death monologue – National

Copyright © 2023 DramaWired.
DramaWired is a content aggregator and not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Celebrity
  • DramaAlert
  • Gossip
  • Movie
  • TV
  • Music
  • Comics
  • Shop

Copyright © 2023 DramaWired.
DramaWired is a content aggregator and not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In