A California mortgage banker and philanthropist has contributed $1 million to rename the sports complex of one of the state's universities after his company.
California State University, Stanislaus recently announced that it would rename its Warrior Arena and sports fields to DreamLife Arena and DreamLife Fields. As part of a five-year agreement for the naming rights, Modesto, Calif.-based DreamLife Financial president and CEO Tony Daniloo is contributing $1 million to be used for athletic scholarships, equipment, and program operations, the release said.
The "Warrior" arena and playing fields on Stanislaus state campus (one of the University's 26 campuses) are host to intercollegiate and intramural sporting events, including 14 men's and women's athletics teams in the California Collegiate Athletics Association. The arena is also used for various educational classes, graduation ceremonies, and banquet events.
"We are fortunate that the Daniloos have stepped forward to make such a big-hearted contribution to enhance the level of excellence demonstrated by all of our talented student athletes inside and outside the classroom," Stanislaus State President Marvalene Hughes stated in a press release on Nov. 17.
Daniloo, 30, founder of DreamLife Financial and a resident of Turlock, was born in Iran but attended local schools. "There's no question that college athletics enriches students' lives," he said a recent press release. "We're delighted to support the University in the town in which we residewhile at the same time we know that our contribution will help the CSU Stanislaus athletics department continue to grow as one of the top athletic programs in the country."
DreamLife Financial, a subsidiary of DreamLife Investments Inc. and partner to DreamLife Realty, was established in 2003 with its first office located in Turlock. DreamLife Financial says it offers a full range of loan programs at the retail and commercial level and states that they are "on track to fund $1 billion in home loans in 2005," according to company spokeswoman Carrie Cardoza.
Cardoza said DreamLife aspires to be the largest mortgage provider in the Central Valley region while providing its 100-plus employees with a family oriented atmosphere in seven branch locations.
Cardoza confirmed that Daniloo and his wife, Nansi, have also pledged $4.5 million to the Emanuel Medical Center to help build a cancer treatment center and for the reconstruction of a pediatric wing. Daniloo said his mother, Susie, is a breast cancer survivor.
From Riches to Rags
A California mortgage broker who contributed $1 million to buy naming rights at a college sports complex and pledged money for a cancer center is now sitting in a jail cell facing charges in a multimillion dollar fraud scheme. Also accused in the case is a former escrow officer of a major title insurance company.