NAMMBA Announces Partnership with Newfi Lending
The National Association of Minority Mortgage Bankers of America (NAMMBA) announced today a partnership with Newfi Lending as a Bronze Sponsor in NAMMBA’s effort to affect positive change with the housing needs of underserved communities and with the development of a more diverse mortgage work force.
“We’re extremely excited to partner with the Newfi Lending team” said NAMMBA Founder/CEO Tony Thompson, CMB. “Like us, it has a strong commitment to diversity and inclusion, and a leadership team that is committed to representing all the communities in which it does business.”
Through this partnership with Newfi Lending will be pursuing an ASIL (Accredited Social Impact Lender) certification. This will engage Newfi’s employees via access to focused training, new hire programs and leadership development. It will also position the mortgage lender to support the communities in which it currently conducts business; creating economic opportunity that focuses on business development for minority brokers and meeting the housing needs of underserved areas.
According to NAMMBA, over the next five years, 75 percent of all first-time home buyers will be women, millennials or people of color. Although there is concern across the industry about a stagnant or shrinking housing market, purchase mortgage opportunity is not only growing, it’s changing. According to NAMMBA’s most recent mortgage market forecast, the three largest diverse borrower groups (Asians, African-Americans, and Hispanics) generated more than $292 billion of purchase opportunity in 2020, which amounts to 24.2 percent of all purchase dollar opportunities.
“Newfi is honored to take this step forward with NAMMBA to better serve our borrowers and make an impact in our industry,” said Steve Abreu, CEO & Founder at Newfi Lending. “This partnership will allow our organization to expand our diversity, equity and inclusion initiatives internally and across our wholesale and direct channels.”
About Newfi Lending
Founded in Emeryville, California in 2014, Nexera Holding LLC, dba Newfi Lending is a growing wholesale and direct mortgage lender focused on Non-QM originations. Their mission is to revolutionize the way people finance their futures by providing innovative solutions, cultivating a people-first mindset, and being transparent every step of the way.
For more information, visit: http://www.newfi.com
About NAMMBA
The National Association of Minority Mortgage Bankers of America is a purpose-driven organization dedicated to the inclusion of minorities and women in the mortgage industry who are advocates for sustainable homeownership in local communities. To fulfill its mission, NAMMBA provides programs and initiatives to introduce minorities and women into the mortgage industry, including recruiting, advisory, networking and training for enterprises and individual professionals
For more information, visit: http://www.nammba.org