Tysons Corner, VA–(HISPANIC PR WIRE)–April 19, 2005–East West Mortgage, the 7th largest U.S. mortgage broker, is one of the first companies to form an advertising partnership with Washington, D.C.’s new Hispanic radio station, El Zol 99.1 FM. Viacom/Infinity Broadcasting, which produces El Zol, is focusing on the Hispanic community as its next major market nationwide and is working hard to promote the new D.C. station. Like Viacom/Infinity, East West Mortgage understands the significant role of radio to the Hispanic community and views this partnership as a logical next step in reaching out to its Hispanic audience in the D.C. area.
“We’ve led the mortgage industry in helping Hispanic consumers understand the home-buying process and obtain home loans here in the states,” says J.C. Jimenez, vice president of sales for East West Mortgage. “In the late ‘90’s we realized D.C.’s Hispanic community was rapidly growing and had a strong desire for homeownership. We quickly responded by building up our base of bilingual loan consultants and reaching out to the community through educational seminars and radio programs. Our message was clear – ‘we can help you purchase a home regardless of citizenship, credit history or financial status.’
“Increasing the number of Hispanic homeowners has required a dual effort – educating the Hispanic community and convincing banks and lenders that financing these buyers is a smart investment. We’ve built a long list of lenders and programs to service this important community and are always looking for effective ways to spread the word. East West Mortgage is thrilled that a major media giant like Viacom/Infinity is providing customized content and a powerful channel to reach D.C.’s underserved, yet growing Hispanic community.”
Much of East West Mortgage’s success with the Hispanic community is built on a fundamental understanding of the market and their preferred ways of gathering information. Hispanic consumers in the United States rely on radio for educational information and listen to it more than any other consumer group. Using the influence of Spanish-language radio, East West Mortgage began an aggressive community outreach campaign, five years ago, to educate consumers on the home-buying process via radio talk shows and public service announcements (PSA’s) on small Hispanic stations along the East Coast. Through its outreach to the community, East West Mortgage has grown its Hispanic business by taking a long-term approach to educating customers and helping them at every step to overcome obstacles to homeownership.
“When we first heard about East West Mortgage we didn’t have any money to put down and didn’t think we could buy our own home,” says Eduardo Rosas and Rosita Vasquez of Falls Church, VA. “We’re now on our third mortgage with East West Mortgage because they make the process easy and offer very competitive rates and low closing costs. We’re so grateful to our loan consultant for helping us to have our own home. We highly recommend them to all of our friends and family who now use them, too.”
Thousands of Hispanic families, many of them first-time home buyers, have purchased and refinanced homes with East West Mortgage. It is estimated that East West Mortgage was the top mortgage broker for the Hispanic community in the Washington, D.C. area in 2004. East West Mortgage sees the growing Hispanic home-buying power as an extreme positive for the U.S. economy and the mortgage industry.
“East West Mortgage definitely has its finger on the pulse of the Hispanic market,” says Martha Acevedo, real estate agent with RE/MAX Allegiance in Springfield, VA. “They worked hard to make the loan process understandable for my clients and ensured them a smooth and timely closing. I go back to East West Mortgage time and again to work with my Hispanic clientele.”
In addition to advertising, East West Mortgage hopes to run PSA’s on El Zol 99.1 FM, to inform even more of the Hispanic community about how to make their dream of owning a home a reality.
About East West Mortgage
Headquartered in the Tysons Corner, VA area of the metro-D.C. region, East West Mortgage has grown from three employees in 1986 to more than 400 employees. They were recently named Broker Magazine’s 7th largest mortgage company and handled more than $1.2 billion in loans last year. East West Mortgage is a leading-edge broker and works with hundreds of banks to offer customers the most competitive rates on thousands of loan programs. With licensing in 44 states, East West Mortgage helps a variety of consumers nationwide, regardless of credit history or financial status, by providing 24/7 service via the Internet or phone. And, East West Mortgage reaches out to a diverse consumer base by offering loan services in seven languages, with a strong focus on the Hispanic community. Committed to customer service, East West Mortgage strives to be their clients’ mortgage consultant for life and gives credit counseling and guidance throughout the home buying process. From a customer’s first contact with a loan professional to closing, East West Mortgage is dedicated to the mission: Your best mortgage, guaranteed. Su mejor financiacion, garantizada.
For more information or to apply for a loan, go to http://www .ewmortgage.com or call 1-800-844-1015.
Heidi S. Cobert