New player Champions Funding enters non-QM market

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.

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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.