For the second year in a row, mortgage industry leader New American Funding has been named a Fannie Mae's 2021 Servicer Total Achievement and Rewards™ (STAR™) Program recipient. The STAR Program honors mortgage servicers for their effective, standardized processes that help drive their performance and operational success.

Fannie Mae recognized New American Funding as one of the honorees in the "General Servicing" category. New American Funding was also honored in this category for 2020.

"We believe in building customers for life, which is why we take great pride in servicing on our own loans," New American Funding Co-Founder and President Patty Arvielo said. "Our commitment to our customers has never been more important than it has been in the last two years, when so many people faced financial hardships. That is why we are incredibly proud to receive this recognition from Fannie Mae for the second straight year."

Since 2011, the STAR Program has provided consistent, specific, and measurable feedback to servicers; aligned servicer performance with Fannie Mae's business goals; and promoted servicing knowledge and excellence across the housing industry.

New American Funding's team strives to provide excellent customer service to its customers, working harder than ever as the company has grown its servicing portfolio over the last few years.

In the last year alone, the company has increased its servicing portfolio from approximately 170,000 loans for $43.4 billion to more than 221,000 loans for $58.1 billion; all while maintaining a 4.9/5.0 rating based on 213,000 online customer reviews.

To learn more about New American Funding's career opportunities, visit their careers page today.

New American Funding announced today that HRO Today Magazine named its Human Resources Director, Katie Traviglia, to its 2016 HR Superstars List. This annual recognition celebrates top leaders across the nation who represent an elite class of HR leadership.

HRO Today published the listing in its 2016 Superstars Directory, which acknowledges HR executives in three categories: Providers, Practitioners, and Advisors/Analysts. Katie, and other HR leaders, were selected for their forward thinking and innovative practices. “It’s a tremendous honor to be acknowledged amongst such distinguished professionals,” said Katie Traviglia. “I’m passionate about the work we do, the progressive approach we take, and the dynamic team that makes it possible.”

Traviglia joined New American Funding in 2012, bringing more than 10 years of experience to her current role in which she manages all aspects of Human Resources. In 2016, she has overseen the hiring of more than 1200 new team members, bringing New American Funding’s workforce to over 2300; all while helping to cultivate an environment that has earned a national ranking from Fortune and Great Place to Work® as one of the Best Workplaces in Financial Services and Insurance.

“We’re very proud of the outstanding work that Katie and the HR team do on a daily basis to make New American Funding one of the finest work environments in the country,” said COO Christy Bunce. “We’re privileged to have the best of the best working on our team.”

This year, New American Funding received several notable accolades including three Stevie® Great Employer Awards; one of which was a gold for Employer of the Year. The company also won a silver Best in Biz Award for Best Place to Work and was named by OC Register the #1 Top Workplace in Orange County.

Amid concerns about inventory and buyer demand, the housing market received positive reports from two separate sources during the week of July 21, offering promise that a corner has fully been turned.

The National Association of Realtors reported that existing home sales increased by 2.6 percent during June, hitting an eight-month high. The annualized rate of sales for existing homes is now at 5.04 million, while the national median home price hit its highest point since 2007, at $233,300. Meanwhile, a separate report from the Mortgage Bankers Association revealed that the volume of new home loan applications was up 3 percent through July 18 - an indication that demand may be picking up as summer hits its second half.

Mortgage applications volumes have been among the most inconsistent metrics of late, with HousingWire noting that the recent spike comes less than a month after a week-over-week drop in originations of more than 9 percent. Still, the convergence of an uptick in existing home sales and more prospective buyers applying for mortgages can't be overlooked, especially when so much has been made of the need for sustainable demand.

The MBA's refinance index was up 4 percent and the unadjusted purchase index was up 1 percent on week-over-week basis, though the latter gauge remained 16 percent below where it sat during the same week in 2013. Some of the renewed demand can be attributed to mortgage interest rates, which have remained flat and relatively low by historical standards. Affordability, in general, has improved, despite the fact that the median price is up nationally. In many of the metro areas where inventory concerns persist, appreciation rates have eased, offering many consumers better odds.

Picking up the pace 

According to the NAR, housing market expansion exceeded a 3 percent annualized rate for the second quarter and is expected to further accelerate through the end of the year. As a Reuters report noted, labor market stability, along with the affordability factors and improving inventory levels, could be setting the table for a second-half housing resurgence that buoys the economy as a whole.

"We may see a late season summer push in housing activity," Nela Richardson, chief economist for Redfin, told Reuters. "Inventory is picking up and mortgage rates are hovering around lows for the year, which make things a bit easier for first-time buyers." Offering yet another glimmer of optimism, homebuilding stocks were up following the NAR and MBA reports' releases, with the Dow Jones construction index rising 1.5 percent.