Mortgage banker Jorge Montoya frequently finds that when he has a meeting scheduled with a Hispanic borrower, the entire family shows up at his Reno, Nev. office. Parents, brothers, sisters, uncles and aunts gather around his desk while he explains the loan terms, often entirely in Spanish. “I always have to have extra chairs in…
June 10–A ranking of the 250 top-producing Latino mortgage originators is out, and more than two-thirds of the group are employed at Wells Fargo & Co.’s home lending unit. Last year’s top-producing Latino originator was Manuel Corral, who closed 310 loans during all of 2014. He is employed by GEM Mortgage in Pomona, California. Corral…
Announces partnership with NAHREP, hosting 2nd diversity conference By Ben Lane Citing the impending shift in the country’s demographics, the Mortgage Bankers Association is taking a leadership role in preparing the mortgage industry for the future. In an exclusive interview with HousingWire, Bill Emerson, the chairman-elect of the trade group and the chief executive officer…
By Bonnie Sinnock Millennial-age workers recently outnumbered their Gen-X peers for the first time ever. But the average loan officer is 54 years old, and industry groups are taking steps to help expand outreach to the next generation of mortgage professionals. According to first-quarter data from the Pew Research Center, more than 53 million workers…
Spanish-speaking homebuyers comprise one of the fastest-growing, yet underserved markets, in the U.S. Last year alone, Hispanic households grew by 320,000, and Hispanics accounted for 40% of all U.S. household growth. According to the Urban Institute, Hispanics will account for 55.5% of new homeowners from 2010 to 2020. Spanish is the most spoken non-English language…
The NAHREP Foundation arm recently unveiled “The Hispanic Wealth Project,” with the objective of increasing wealth and homeownership levels in the Hispanic community. View Original Article
The National Association of Hispanic Real Estate Professionals (NAHREP) has announced a 25-city national tour featuring 53 Million & One, a NAHREP original theatrical performance that tells the story of an immigrant from rural Mexico who comes to the U.S. and succeeds as a real estate entrepreneur to live the American dream. The Nuevo Latino…
By ADRIAN BISHOP A one-man show about how an immigrant from rural Mexico comes to the US and succeeds as a real estate entrepreneur is going on tour this month. The 53 Million & One musical, from the National Association of Hispanic Real Estate Professionals (NAHREP) has announced a 25-city national tour. The inspiring, music-filled…
Hispanics will be a big driver of home sales in the next decade, as they are expected to account for 7 million of the 17 million new households formed between 2010 and 2025, according to the National Association of Hispanic Real Estate Professionals’ 2014 State of Hispanic Homeownership Report. Last year, there were 320,000 new…
As the housing market continues to recover, more and more minority communities will enter the real estate scene. Recent studies have shown that the Hispanic community will soon represent a major segment of the homeownership market, and a newly released 2014 State of Hispanic Homeownership Report found that 320,000 new Hispanic households were formed last…