New American Funding, a national leader in the mortgage industry, announced today that it has entered into a strategic partnership with CBC Mortgage Agency to expand the offering of its Chenoa Fund Down Payment Assistance program to affordable home buyers.
The program rollout focuses on offering New American Funding's loan origination services to the numerous non-profit affordable homebuilders, 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."
"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."
New American Funding and CBC Mortgage Agency have named Mark Tribuna, Regional Business Development Manager, to lead the effort.
Tribuna has served as Co-President for a Dallas-based non-profit lender specializing in approving affordable home loans for local home buyers. More recently, he worked as Lead Consultant for one of the nation's largest affordable homebuilders and was tasked with creating new programs and products supporting the mortgage-lending activities of its nearly 1,200 affiliates who build thousands of homes annually.
The CBC Mortgage Agency mission is to increase nationwide affordable and sustainable homeownership, with a focus on creditworthy, low, and moderate-income individuals.