The retail mortgage lender Guaranteed Rate is creating a Bilingual Diversity Processing Team to lead their new Language Access Program (LAP). LAP aims to connect more meaningfully with Spanish-speaking customers and guide them throughout the mortgage process. And as part of this initiative, industry veteran Arlyn J. Kalinski has been hired as the compliance director for the Limited English Proficiency (LEP) Program.
In this role, Kalinski will oversee key aspects of LAP. This includes training and recruiting new LAP specialists as well as reaching out to the community to educate members on financial literacy. And within Guaranteed Rate, Kalinski will oversee internal programs to provide further opportunities those employees who are invested in supporting limited English-speaking communities.
LAP was launched this October, in time for National Hispanic Heritage Month and will begin with a primary focus on Spanish speakers — particularly as the demographic of Hispanic homebuyers expands. The Urban Institute predicts that over the next 20 years, 70% of new homebuyers will be Latino. The National Association of Hispanic Real Estate Professionals has also released data which illustrates the fast-growing pace of investment property ownership among the Latino community.
These trends indicate an imperative necessity to communicate effectively with Spanish-speaking clients. Speaking on the topic, Kalinski said, “Hispanic homeownership is at a tipping point. This is an opportunity to meet the moment by addressing the homeownership needs of this expanding population and provide additional resources, education and outreach to diverse communities throughout the country.” Kalinski herself is a native of Puerto Rico.
“I’m excited to join Guaranteed Rate and help lead efforts to create greater access to affordable mortgages while reducing inherent challenges often faced by underserved communities,” she added.
Guaranteed Rate’s executive director of diverse segments, Camilo Escalante, also looks forward to Kalinski’s possibilities at the company. “Adding Arlyn to drive our efforts ensures that we’re on the forefront of the industry with our commitment to LEP consumers,” he said. “She’s the key piece to helping us win in this marketplace and set a model for the entire industry to follow.”