New American Funding, a national mortgage lender, has launched NAF Black Impact, formerly known as NAF Dream, a program that empowers and supports the Black community in its pursuit of homeownership.
NAF Dream launched in 2016, focusing on loan officer recruitment, education, and efforts to expand Black homeownership. Acknowledging the ongoing success of the program, NAF is renaming the program NAF Black Impact to signify the company’s commitment to taking direct, action-oriented steps to address credit accessibility and promote sustainable and equitable homeownership for Black individuals and communities.
Additionally, this name change reflects the company’s growing dedication to assisting Black borrowers in overcoming systemic barriers that have perpetuated disparities in homeownership for many years, as highlighted in NAF’s recently released white paper, Empowering Homeownership in Diverse Communities.
“Increasing homeownership rates in the Black community is a critical step toward closing the racial homeownership gap,” says Patty Arvielo, co-founder and CEO of New American Funding, in a release. “For us, this is much more than a rebrand of the initiative. This was a necessary step to demonstrate our responsibility to the Black community. NAF Black Impact means that we commit to providing access to mortgages and financial resources to help more Black families achieve homeownership. By providing the necessary support, we believe that we can make a difference and create a more equitable society for all.”
Through NAF Black Impact, NAF will help to foster opportunities for Black families and break down barriers to homeownership. To this end, NAF has committed to extending $20 billion in new mortgages to Black homebuyers by the year 2028.
“We are thrilled to continue the legacy of NAF Dream and extend our support to more Black families,” says Mosi Gatling, senior vice president of strategic growth and expansion, NAF. “We are firm in our belief that homeownership should be within everyone’s reach, and we are dedicated to transforming this vision into a reality. We want NAF to become the place where all Black families feel comfortable and supported in their homeownership journey. We want them to know that NAF is here for them.”