California-based New American Funding (NAF), which recently acquired Draper and Kramer Mortgage Corp. (DKMC), has tapped industry veteran Mosi Gatling as senior vice president of strategic growth and expansion, a newly created role on NAF’s leadership team.
Gatling was previously a sales manager at loanDepot, where she spent almost seven years. Last year, she produced about $78 million in mortgages, consisting mainly of Federal Housing Administration (58.8% of the total) and purchase loans (93.5%), according to the mortgage tech platform Modex.
Rebecca Anderson, senior vice president of strategic communications and public relations at loanDepot, wrote to HousingWire that the company “enjoys a long history of attracting and developing top-notch talent and “we thank Mosi for her many contributions to loanDepot and wish her the best in the next chapter of her career.”
Based in Las Vegas, Gatling has worked for companies such as Bank of America, MetLife Home Loans, Home Community Mortgage and Guild Mortgage, developing expertise in loans to underserved communities.
“This role offers me a platform to be more than just a loan officer,” Gatling said in a statement. “There needs to be a shift in the industry’s approach towards Black homeowners, moving away from outdated messaging and processes that belittle the situation and the people. This position presents me with an opportunity to affect positive change across the industry.”
The company said that Gatling’s responsibilities will include recruiting and the creation of marketing and business strategies based on her understanding of the Black community.
Patty Arvielo, who founded NAF in 2003 with her husband Rick Arvielo, said that Gatling’s extensive knowledge and experience in the mortgage industry, as well as her promotion of homeownership for previously underserved populations, make her a “perfect fit” for the company.
NAF originated more than $9 billion in mortgages in 2023, per Modex. Of the total, 53.6% were conventional loans and 30.5% were FHA loans. Purchases represented almost 73% of the total.
In early February, the company announced the acquisition of the residential mortgage business of Chicago-based Draper and Kramer Holding, a financial and real estate services provider. The goal was to enhance the mortgage lender’s presence in the Midwest and along the East Coast.
HousingWire reported on the late-stage negotiations in January. This included news that most of last year’s top-producing loan officers at DKMC were not transitioning to NAF, according to multiple sources and publicly available data.
