New American Funding continues to expand its footprint across the U.S., announcing its latest branch opening in California.
New American announced it is expanding its Southern California territory with the grand opening of its new location in Indio, California. It plans to celebrate its new branch alongside the Greater Coachella Valley Chamber of Commerce with a Cinco de Mayo ribbon-cutting ceremony on Thursday from 3 p.m. to 4 p.m. PST.
The new branch is located at 81713 Hwy 111, Suite B, in Indio, California. New American explained it recognized a rising need in the Coachella Valley area for affordable loan programs.
“We’re excited to serve an underserved community,” New American Branch Manager Sandra Magana said. “We have options as diverse as our clients. We have the right loan products to assist today’s homebuyer in East Coachella Valley.”
The new location is a full service producer that will bring the region a range of purchase and refinance options with a focus on down payment assistance programs and niche loans.
Magana was selected to lead the new branch as she is a native of the valley and a fluent Spanish speaker, allowing her to cater to the area’s growing Hispanic population. She brings more than 30 years of mortgage experience to her new position, and has worked in a variety of capacities including branch manager and loan officer.
“Sandra is a seasoned professional who’s well respected,” New American Regional Manager Virginia Martinez said. “She’s great working with clients. She’s an excellent mentor to young talent. She’s the perfect person to open this branch.”
Magana explained she looks forward to providing a way to affordable housing through her new position.
“My biggest passion is helping farm workers find affordable housing,” she said. “Our programs can help residents become homeowners whether they’re self-employed or a seasonal employee.”
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.
And the company's leadership is making waves in the mortgage market as Patty Arvielo received HousingWire's 2017 Women of Influence award.
And this expansion is one of many in recent months. Most recently, the company announced it was expanding its footprint in the Seattle area.