Multiple Access Mortgage Lenders new america funding NAF this week announced the relaunch of a program called “NAF Black Impact” designed to recruit, educate and expand loan officers’ understanding of issues faced by borrowers of color.
The company said this replaces the previous brand “NAF Dream” to highlight the company’s commitment to “taking direct, action-oriented steps to address credit accessibility and promote sustainable and equitable home ownership for Black individuals and communities.” ”.
The program originally launched in 2016 to educate and recruit loan officers to better understand existing barriers to Black homeownership. In line with this refreshed brand, the company said it has committed to providing “$20 billion in new mortgages to Black homebuyers by 2028.”
The program will build and maintain partnerships with real estate agents, other lenders and community organizations to “ensure Black homebuyers have access to equitable and affordable housing options,” the company explained. “NAF also provides the Black community with educational resources, products, services, partnerships and marketing support to advance sustainable home ownership and investment purchase goals.”
NAF co-founder and CEO Patty Arvielo said the new name and new efforts were necessary to clarify the company’s priorities.
“For us, this is more than just a rebranding of the program. It’s a necessary step to demonstrate our responsibility to the Black community,” Avillo said. “NAF Black Impact means we are committed to providing mortgages and financial resources to help more Black families achieve homeownership. By providing the necessary support, we believe we can make a difference and create a more equitable society for all .
Mosi Gatting, senior vice president of strategic growth and expansion, echoed that sentiment and said the company needs to take action.
“We firmly believe that everyone should own a home, and we are committed to making that vision a reality,” Gatlin said. “We want NAF to be a place where all Black families feel comfortable and supported in the homebuying process. We want NAF to be a place where all Black families feel comfortable and supported in the homebuying process. They know the NAF is with them.
Data illustrating racial homeownership gaps confirm differences between racial groups. According to data from the first quarter of 2024 U.S. Census Bureau as quoted United States Federal ReserveThe homeownership rate for African Americans is 45.7%, compared to 74% for whites.
Across all income ranges—including those above $100,000 per year—Black households have lower homeownership rates than white households, reducing the likelihood that higher income brackets have a significant impact on homeownership rates .
