New American Funding - Fastest Growing Company of the Year

Company: New American Funding, Tustin, CA
Company Description: New American Funding (NMLS #6606) is a Fannie Mae, Freddie Mac and Ginnie Mae Direct Seller/Servicer, FHA Direct Endorsement, and VA Automatic mortgage lender that is licensed in 48 states with 205+ branch locations nationwide and 3,600+ employees that offer a variety of home loan options including Conventional, FHA, Cash-Out, Fixed-Rate and Adjustable- Rate Mortgages, VA, Jumbo, and Reverse
Nomination Category: Company/Organization Awards Categories
Nomination Sub Category: Fastest Growing Company of the Year

Nomination Title: New American Funding

New American Funding is the largest woman-owned mortgage company in the U.S. The lender is also the Latina-owned mortgage company, making it truly one of a kind.

The company, which was founded in 2003 by Rick and Patty Arvielo, has since grown to become a top-15 mortgage company in the U.S. New American Funding now has 181 locations across the nation and employs approximately 4,800 people. Of those 4,800 employees, approximately 60% are female.

New American Funding believes in supporting its customers throughout their homeownership journey. That’s why the company is a full-service mortgage company, handling the entire loan process in-house from origination all the way to servicing and beyond.

This allows the company to build customers for life, many of whom come back to the company repeatedly when they are ready to buy their next home or refinance their mortgage – as many did in 2020.

The company truly thrived in 2020 thanks to the steady leadership of Co-Founder and President Patty Arvielo, who leads all sales and operations efforts. Under Patty’s leadership, the company saw its mortgage business more than double in 2020, a trend that is continuing in 2021.

New American Funding was already a leader in the mortgage industry prior to 2019, but thanks to two extraordinary years in a row, the company is now firmly entrenched as one of the top 15 mortgage companies in the U.S.

In 2019, the company originated $14.2 billion in mortgages, which placed it at #17 by volume. That figure was dwarfed by what the company did in 2020, when the company more than doubled its lending volume and originated $30.5 billion in mortgages. That’s an increase of 114.8%. The result earned New American Funding a spot in the top-15 mortgage lenders, ranking 13th overall.

The company’s growth in 2020 also far exceeded many of its competitors, including several of the largest banks. New American Funding’s mortgage business increased by 114.8% in 2020, more than what was seen at 11 of the other top 15 lenders. Put another way, in 2020, New American Funding’s growth in 2020 was larger than seven of the top ten lenders.

During that same period, the company also experienced astronomical growth in its revenue. From 2019 to 2020, the company’s revenue increased by 112.4%.

During that time, the company also focused on increasing women in leadership positions

The company’s family-like culture sets it apart and has earned the company many national awards, including receiving numerous Stevie awards and being named a Great Place to Work several years in a row. In December 2019, the company was awarded the Better Business Bureau’s International Torch Award for Ethics, the first-ever independent mortgage lender to receive the honor.

The company has worked hard to build a supportive and inclusive environment. New American Funding has one of the most diverse workforces in the financial services industry. Currently, women make up 60% of all employees; 45% of all employees are minorities, and 38% are Millennials.

The company also significantly expanded its workforce in the last two years. In July 2019, the company had 2,900 employees. Since then, the company increased its workforce by nearly 2,000 people to 4,800.

In the last two years, the company saw a 61.94% increase in total employee count, a 3.33% increase in female employees, a 9.75% increase in minority employees, and an 8.57% increase in employees who are millennials. In that same time, the company saw a 163.63% increase in positive customer reviews online.

The company also focuses on lending to diverse populations, specifically focusing on increasing lending to the Hispanic and Black communities. Through its Latino Focus and New American Dream initiatives, both of which were established by Arvielo, 36% of New American Funding’s purchase loans in 2020 were to minority borrowers compared to 25.5% for all institutions.

Reference any attachments of supporting materials /Links:

The company has been repeatedly honored for its performance and culture, including the following:

The company also received the following awards in the last two years (Note: this is not a complete list):

2021 Profiles in Diversity Journal Women Worth Watching
2021Expertise.com - Best Mortgage Refinance Companies in Henderson
2021 Stevie - American Business Awards Marketing Department of the Year
2021 Stevie - American Business Awards Marketer of the Year
2021 Stevie - American Business Awards Fastest Growing Company of the Year
2021 Stevie - American Business Awards Woman of the Year
2021 Stevie - American Business Awards Company of the Year
2021 Great Place to Work/ Fortune Best Workplaces in Financial Services & Insurance
2021 The Atlanta Journal Constitution Top Workplaces
2021 Great Place to Work/ Fortune Best Workplaces in Texas
2021 Fannie Mae Star Performer
2020 Best Mortgage Company to Work For by National Mortgage
2020 Great Place to WorkandFortune Name New American Funding GPTW Certified
2020 Top Workplace in Atlanta Georgia
2020 St. Louis Post- Dispatch 2020 Top Workplaces
2020 LA Times - Best Of Times OC 2020 Best Mortgage/Home Loan Lender
2020 NMP - National Mortgage Professional Magazine Top Mortgage Employers
2020 OC Register Top OC Workplaces
2020 Mortgage Professional America Top Workplaces
2020 Mortgage Professional America Mortgage Global 100
2020 Austin American Statesman Top Workplaces
2020 OCBJ - Orange County Business Journal Family Owned Business
2020 Stevie - Women in Business Fastest Growing Company of the Year
2020 Stevie - Women in Business Company of the Year – Consumer Services
2020 Stevie - Women in Business Maverick of the Year
2020 Stevie - Women in Business Female Entrepreneur of the Year – Consumer Services
2020 ALPFA - Association of Latino Professionals For America
2020 Great Place to Work/ Fortune Best Workplaces for Women
2020 Stevie - Great Employers Awards Most Valuable Employer
2020 Stevie - Great Employers Awards Most Innovative Work from Home Plan
2020 Stevie - Great Employers Awards Employer of the Year - Financial Services
2020 Great Place to Work/ Fortune Best Workplaces for Millennials
2020 OCBJ - Orange County Business Journal - Private Companies
2020 Stevie - American Business Awards Woman of the Year - Consumer Services
2020 Stevie - American Business Awards Maverick of the Year - Consumer Services
2020 Stevie - American Business Awards Achievement in Management - Financial Services
2020 Profiles in Diversity Journal Women Worth Watching
2020 Great Place to Work/ Fortune Best Workplaces in Financial Services & Insurance
2020 Great Place to Work/ Fortune Best Workplaces in Texas
2019 BBB International Torch Awards for Ethics

Also, please review the following video, which provides evidence of how the company maintained its award-winning culture in 2020 when nearly all of the company’s employees shifted to working from home: New American Funding 2020 – Living Through History