This year’s Salvadoran American Gala celebrated a large number of Salvadoran leaders, businessmen and artists whose work brought – and continues to bring – pride to the country of El Salvador. The guests gathered to recognize Salvadoran Americans for their continuous spirit of leadership, dedication and contributions on a night that also included great food, dancing and folklore music. A great time was had by all in the celebration.
Among the special guests was the Colombian actor Harry Gaithner, the talented Genessa & The Selena Experience, our own Board Chairmen of Nationwide Mortgage Bankers, Mr. Richard Steinberg, in addition to the distinguished honorees:
- Sam Cruz: CEO, KBG Logistics
- Gerardo & Teresa Córdova: Founder of Michelle Photo Studio
- María Avelar: Founder of the Salvadoran Civic Committee Inc
- Alcira Lizzette Burgdoerfer: Prudential Insurance Company
- Dr. Cynthia Orellana: Westbury School District
- Alex Sorto: Actor and promoter of Salvadoran folklore
- Berta Luz Campos: TV producer
- Jessica Formoso: Fox 5 News (New York)
New York’s Proudly Salvadoran Gala gives us the opportunity to highlight the good, hard-working people of El Salvador. Through their tenacity and the wonderful achievements they’ve made, these individuals have brought pride and a good name to El Salvador.
This event was sponsored by Americasa Home Loans, NMB’s Spanish language mortgage platform. Americasa’s goal is to educate Spanish speakers on the best options available to them in the U.S. Even though lots of mortgage lenders, NMB included, have best mortgage practices on their websites, they’re always written in English. At NMB, we’ll be the first to admit that mortgages and other financing options can be tricky to understand, even when written in your first language. When English language learners try to read about different mortgage options – or even use an online translator to work out what different loan programs are – they might feel overwhelmed.
That’s where Americasa comes in, creating an inclusive environment in which native Spanish speakers can learn everything they need to know about taking out a mortgage in the U.S. According to 2017 research from the U.S. Census Bureau, 41 million people in the U.S. speak Spanish at home, making Spanish the second most spoken language in the country. Of this population of 41 million, only 59.9% speak English “very well.” With 40.1% – or 16 million people – speaking English “well” or inefficiently, there is clearly a need for a platform that educates Spanish speakers on different types of mortgages and how to take out a mortgage.
According to a 2018 study by Fannie Mae, not enough Americans understand basic information about mortgages. Even though consumers continue to purchase mortgages, they still tend to overestimate the minimum credit score and down payment needed to quality for a mortgage, according to Fannie Mae’s research. This doesn’t reflect negatively on these consumers, however. Instead, Fannie Mae asserts the notion that mortgage lenders should take accountability in closing “the knowledge gap.” That’s what Americasa was created to do, close the mortgage industry knowledge gap for native Spanish speakers.