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Available only in certain areas, the funding does not need to be repaid and can be used for upfront costs.
Calif.-based company has now cut 941 jobs in 2022.
Fitch Ratings also gave stable outlook as servicer revealed plans to expand into Non-QM loans.
New American Funding named Brooke Anderson as its senior vice president of business development and national recruiting.
New American Funding named Tony Blodgett as the company's executive vice president of retail sales.
'Together, we are committed to increasing homeownership opportunities for creditworthy Americans.'
