How are you Serving the Latino Market?
I serve the Latino market because I am passionate about the culture and I'm Latina. Therefore, something that started out as a very personal thing for me has turned into a business opportunity for New American Funding. I think anybody in America who owns a corporation that wants to stay in business should want to serve Latinos-as they will be the largest segment of first time home buyers in America.
If you call in to New American Funding, everybody that answers the phone speaks both English and Spanish. It's not completely necessary to have a bilingual Staff, but it is if you want to scale it. In every position in our company there's diversity and inclusion; in underwriting, in processing and with our sales staff. So I think that has been a very important part of our company.
We've got a concentrated effort going out via television: I'm on Univision right now with a commercial and we have radio commercials going out to Latinos. We're not touting rates, but we're letting them know that they can pick up the phone and call new American funding. so that they can find out if they have the opportunity of home ownership. Because of the perception to typical Latino families that they need 20% down and they need to be at their job for 5 - 7 years in order to own their own home, many Latinos think that their dream in unachievable. However, that’s not the case. They need minimal down, and they don't know that unless they pick up the phone and call. We are hoping to make them feel comfortable calling us, so that they don't feel embarrassed to ask certain questions about the process of home ownership.