New American Funding is an independent mortgage lender headquartered in Orange County, California, that is dedicated to helping families and individuals improve their quality of living through home ownership. In 2003, founders Rick and Patty Arvielo combined their expertise to create a progressive business that quickly grew from a 40-employee call center into a national mortgage banker and industry powerhouse. Learn more at www.newamericanfunding.com
For New American Funding, 2017 was a banner year. In a time when some lenders saw contraction, New American Funding opened 31 branches and hired more than 1,000 new employees, including 330 outside loan officers. In addition, the company funded approximately $900 million in home loans per month and grew its servicing portfolio to $22 billion.
New American Funding has been developing its own technology for years, a natural result of Rick Arvielo’s passion to innovate the process beyond what was available. In the early 2000s, few loan officers were interested in how tech could make their business better. Today, New American Funding’s deep technical expertise is a clear differentiator for loan officers who want to grow.
[Subscribers only] Multigenerational living, where two or more adult generations live under the same roof, is becoming a growing trend in the U.S. Currently about 19% of Americans now live in a multigenerational household, the highest level since 1950. That amounts to about 60.6 million adults in 2014, up from 57 million adults in 2012. And homebuilders have taken notice, designing houses specifically catered to this segment.
Would-be homeowners are inundated with picture-perfect examples of new and remodeled homes brimming with upgrades. But in the real world, homebuilders and investors must calculate the rate of return on these sometimes fleeting trends, weighing what buyers want with what they can actually afford. This feature looks at which features buyers of different age demographics consider the most important, and what that means for sellers.
We’ve found that the handling and posting of payments during bankruptcy has been a widespread issue in our testing environment. Specifically, there is increased risk exposure in pre-and post-petition payment application and treatment, both inside and outside of the bankruptcy plan. Servicers and sub-servicers have created manual workflow workarounds to address the issue, however, it does open the servicer up to more exposure to calculation errors.