New American Funding, the direct mortgage lender, will be forming a strategic partnership with CBC Mortgage Agency to expand offerings for the Chenoa Fund Down Payment Assistance program for affordable homebuyers.
This program offers loan origination services from New American Funding to multiple non-profit affordable home builders, veterans' organizations, and other community housing development organizations throughout the country.
“New American Funding has a proud history of championing accessible and affordable homeownership," said Patty Arvielo, co-founder and president of New American Funding. "By partnering with CBC Mortgage Agency and its Chenoa Fund Down Payment Assistance program, we are fully committed to helping diverse groups of individuals with differing income levels realize their dreams of homeownership and enhance their quality of life.”
New American Funding and CBC Mortgage Agency have named Mark Tribuna, regional business development manager, to lead the effort. He previously served as president for a Dallas-based non-profit lender specializing in approving affordable home loans for local homebuyers. More recently, he worked as a loan consultant for the nation’s largest affordable home builders and was tasked with creating new programs and products supporting the mortgage-lending activities of its 1,200 affiliates who build thousands of homes annually.
"We are thrilled about the partnership with New American Funding and the opportunity to expand homeownership to underserved communities through our Chenoa Fund program," said Tai Christensen, director of government affairs for CBC Mortgage Agency. “Together, and in coordination with our minority outreach efforts, we are committed to increasing homeownership opportunities for creditworthy Americans.”
