New American Funding announced it is expanding its Southwest territory with the opening of its first branch in Santa Fe, New Mexico.
The new location, located on 150 Washington Ave. Ste. 201, is a full-service home-loan provider which will offer a wide range of purchase and refinance products, including a diverse offering of niche products, the company announced.
“We’re excited to bring New American Funding’s wide range of niche loans to Santa Fe,” Loan Originator Marita DeVargas said. “Consumers have been looking for more financing options. Now New American Funding has it available for them.”
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.
At the beginning of this month, New American announced it was launching a new branch in Northern California. This was preceded by an earlier announcement, in late October, when New American announced it expanded into the South Texas city of Corpus Christi.
And the company's 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 brought DeVargas and loan originator Denise Beswick to the new Sante Fe team. DeVargas previously served as vice president of mortgage sales with an independent lender, and Beswick owned and operated a contract loan process company. The two bring a combined 40 years of experience to the new branch.
New American announced it plans to further expand the company’s footprint and bring in more loan originators and partner with local real estate agents.
“We bring a new way of doing business and fresh energy,” said Branch Manager Justin Ledoux. “Not only do we understand this market, from leasehold land to condos, but we have tools such as mobile apps and fast response times to better serve Santa Fe.”