New American launches new branch in Northern California

Hires 20-year mortgage veteran to lead new branch

Mortgage lender New American Funding announced its latest expansion in Northern California with the grand opening of its Novato location.

The new branch will be located at 7250 Redwood Blvd. Suite 300, and will be the first retail site for the mortgage lender in Marin County, which is just north of the San Francisco area.

The company announced it will be a full-service home loan location which provides a range of purchase and refinance loan options, and will work with all borrower types including jumbo consumers, veterans and first-time homebuyers.

“This is a competitive market,” said Area Manager Darren Pomponio. “With our mobile technology and efficient loan process, we give our real estate partners the edge and help them win closings.”

New American Funding, listed as Broker Solutions on the 2016 HMDA scorecard, continues to increase its market share, and in 2016 came in as the 27th top lender by number of originations, according to data prepared by iEmergent, an Iowa-based market research firm. They earned that spot by closing 37,993 loans, $10.8 billion by volume, and making up 0.5% of total market share.

In fact, this expansion marks the company’s second new branch opening over the past several weeks. In late October, New American announced it expanded into the South Texas city of Corpus Christi.

And the companies leadership is making waves in the mortgage market as its President and Co-Founder Patty Arvielo received HousingWire's 2017 Women of Influence award. 

The company hired Pomponio to lead the new location. He brings a 20-year background in the mortgage industry to his new position, and will serve the new location as producing manager.

Pomponio began his career as a loan originator before moving up to vice president with an independent lender.

“Darren brings a stellar reputation to New American Funding,” said Chris Garza, New American Regional Vice President. “We’re honored to have him continuing our Northern California growth.”

Most Popular Articles

Here are the mortgage lenders that borrowers like the most

J.D. Power’s 2019 U.S. Primary Mortgage Origination Satisfaction Study, released Thursday morning, showed that there are some lenders that customers seem to love working with more than others. Here are the ones that borrowers are partial to.

Nov 14, 2019 By

Latest Articles

Congressional vote on “de facto QM Patch” postponed

The House Financial Services Committee postponed a vote on H.R. 2445 on Wednesday, a bill that would fix the so-called QM Patch that’s set to expire in early 2021.

Nov 15, 2019 By