New American Funding - Company of the Year

Company: New American Funding, Tustin, CA
Company Description: New American Funding is a mortgage banker, licensed in 48 states across the nation, that funds over $900 million in home loans every month and maintains a servicing profile of over $23 billion. Our company offers a full spectrum of loan products and we have won numerous awards for our industry leadership and efforts in diversity and inclusion in the workplace.
Nomination Category: Company / Organization Categories
Nomination Sub Category: Company of the Year - Consumer Services - Large

Nomination Title: New American Funding

New American Funding had an outstanding 2019, when it originated $14.2 billion in mortgages, with a record-shattering 2020. Despite the pandemic, New American Funding broke its own mortgage lending records in every month of 2020.

The lender originated $30.57 billion in mortgages in 2020, helping more than 104,000 individuals and families achieve their own American dream.

New American Funding saw tremendous growth in its mortgage servicing portfolio in 2020, which has continued early in 2021. At the end of 2019, the company had 124,000 loans totaling $31 billion in its servicing portfolio. As of March 2021, the company’s servicing portfolio includes 181,000 loans totaling $46.7 billion. That’s an increase of 46% in loan count and an increase of more than 50% in total loan value.

New American Funding significantly grew its workforce last year. In 2020, the company nearly doubled its workforce, adding 2,776 new employees, all while providing industry-leading customer service to its borrowers.

All this was accomplished in the face of the pandemic. Even with a transition to working remotely, the company didn't miss a beat thanks to the foresight of the company’s executives, who planned for such an occurrence, and the hard work of the company’s technology team, who facilitated the shift flawlessly.

Even as it was expanding, New American Funding maintained one of the most diverse workforces in the financial services industry. Currently, women make up 60% of all employees; 45% of employees are minorities, and 37% are Millennials.

New American Funding is one of top mortgage lenders in the country. Founded in 2003 as a 40-person call center, the company has since grown into a national lender with 188 locations nationwide and approximately 4,800 employees. The company’s mission is to provide homeownership opportunities to as many worthy people as possible.

The company handles the entire home loan journey in house, from origination through servicing. The company is a Fannie Mae, Freddie Mac, and Ginnie Mae direct lender, seller, and servicer, offering a myriad of home loan options to borrowers of all financial situations.

One of the company’s specific focuses is on providing homeownership opportunities to previously underserved communities. Through its Latino Focus and New American Dream initiatives, New American Funding seeks to increase mortgage lending to the Hispanic and Black communities. Those efforts, which have been part of the company’s mission for nearly a decade, have led to the company continually being a leader in lending to minorities.

Beyond that, New American Funding believes in diversity and inclusion and maintains a supportive and inclusive work environment for all. The company has cultivated an award-winning, family-like culture that emphasizes teamwork that sets it apart from its competitors.