Industry heads Evan Stone and Patty Arvielo founded the company
Champions Funding has officially opened its doors for business, becoming the newest wholesale lender on the non-QM block.
The Arizona- headquartered company was founded in 2021 by Community Savings head Evan Stone and New American Funding CEO Patty Arvielo. Champions has a Community Development Financial Institution (CDFI) designation by the Department of Treasury, a fund dedicated to financial institutions that promote economic revitalization in distressed communities across the US. The company added that the CDFI designation enables it to provide flexible lending options like non-QM loans.
Read more: President’s tips for mortgage professionals who want to succeed with non-QM
Stone, who will serve as CEO of Champions Funding, said they are poised to execute their mission of serving historically underserved markets.
“We are thrilled to bring together a team of highly motivated, smart mortgage professionals to offer a unique opportunity for diverse home buyers to realize the dreams of homeownership with a solutions-driven and responsible approach to lending,” he said.
Stone currently serves as chairman of Ohio-based bank Community Savings and is a co-owner and partner for Rep1 Sports agency, representing top names in the NFL, MLB, and NBA. He also founded Pacific Union Financial, a multi-channel mortgage banking company, serving as its CEO for nearly 15 years.
Read next: New American Funding awarded for demonstrating equal opportunity to Latinos
Meanwhile, Arvielo will serve as board chairwoman at Champions. She is the co-founder and CEO of New American Funding – a Latina-owned, independent mortgage lender. Arvielo’s leadership extends to several committees within the industry, including the Mortgage Bankers Association’s (MBA) Affordable Homeownership Advisory Committee and MBA Residential Board of Governors and others.
