New American Funding - Female Entrepreneur of the Year – Consumer Services
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: Individual Awards Categories
Nomination Sub Category: Female Entrepreneur of the Year – Consumer Services – More Than 2,500 Employees
Nomination Title: Patty Arvielo
Patty Arvielo has been a leader in the mortgage industry for more than 40 years. She is a results-driven entrepreneur who co-founded and leads the nation’s largest Latinaowned mortgage company in the U.S., New American Funding.
Arvielo co-founded New American Funding in 2003 with her husband, Rick. What started as a modest 40-employee company has since grown it into one of the 15 biggest mortgage lenders in the U.S., one with a massive national footprint. The company is also unique in that it handles the entire loan process in-house. In her role as President, Arvielo leads the company’s sales and operations efforts.
Arvielo is an expert in lending to underserved communities, including a wealth of experience in working directly with Hispanic and Black communities. She is also committed to influencing cultural identity by empowering minorities through homeownership and professional mentorship.
Arvielo has worked hard to create and maintain a supportive and inclusive work environment that accepts and welcomes all. A first-generation Hispanic American, Arvielo is driven to create homeownership opportunities for minority communities, leading New American Funding to become an industry leader in lending to minority borrowers, far outpacing all other large lenders in this crucial category.
In the last two years, Arvielo has led New American Funding through a period of substantial growth that saw the company more than double its lending volume from 2019 to 2020, a trend that has continued into 2021.
In 2019, the company originated $14.2 billion in mortgages, ranking the company 17th in the nation. The company obliterated that figure in 2020, by more than doubling its lending volume and originating $30.5 billion in mortgages. That earned New American Funding a spot in the nation’s 15 biggest mortgage lenders, ranking 13th overall.
The company 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. The company now has 181 locations nationwide.
During that time, Arvielo led an effort to increase women in leadership positions within the company.
New American Funding also has one of the most diverse workforces in the financial services industry, which only increased as the company expanded rapidly over the last two years. Currently, women make up 60% of all employees; 45% of all employees are minorities, and 38% are Millennials.
Under Arvielo, New American Funding’s growth in 2020 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 grew it business in 2020 by more than seven of the top ten lenders.
The company experienced this growth while maintain both its diverse workforce and its focus on lending to minority borrowers.
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.
Under Arvielo, New American Funding is an industry leader in lending to minorities. Several years ago, Arvielo established the company’s Latino Focus and New American Dream initiatives to improve the lending experiences of Hispanic and Black home buyers, respectively.
Those initiatives have led New American Funding to far exceed all other large lenders in lending to minority borrowers. Through these initiatives, 36% of New American Funding’s purchase loans in 2020 were to minority borrowers compared to 25.5% for all institutions.
Arvielo also gives back as a mentor to help the next generation grow their careers. Her quarterly mentorship program, “Thrive and Lead,” provides employees and external mortgage professionals with intensive mentoring.
Reference any attachments of supporting materials
Patty Arvielo and her company have been repeatedly honored for performance and culture, including the following honors:
2021 Profiles in Diversity Journal Women Worth Watching
2021 Stevie - American Business Awards Marketing Department 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 Great Place to Work/ Fortune Best Workplaces in Texas
2021 Fannie Mae Star Performer
2021 Profiles in Diversity Journal Women Worth Watching
2020 Great Place to Work and Fortune Name New American Funding Great Place to Work Certified
2020 Profiles in Diversity Journal Latino Leaders Worth Watching
2020 NMP - National Mortgage Professional Magazine Top Mortgage Employers
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 Stevie - American Business Awards Woman of the Year - Consumer Services
2020 Stevie - Women in Business Female Entrepreneur of the Year – Consumer Service
Below, please examples of New American Funding being honored and leading the next generation:
2021 New American Funding Wins Six Stevie American Business Awards
2021 New American Funding Co-Founder Patty Arvielo Honored as Latino Leader Worth Watching
2021 New American Funding Makes Scotsman Guide’s Top Mortgage Lender List
2021 New American Funding Named a Best Mortgage Refinance Company
2021 New American Funding Named One of the Best Workplaces in U.S.
2021 New American Funding Co-Founder Patty Arvielo Honored as Latino Leader Worth Watching
2021 New American Funding Named One of the Best Workplaces in Texas
2021 New American Funding Honored as Top Workplace in Atlanta
2020 Patty Arvielo Wins Gold Stevie Award for Female Entrepreneur of the Year
2020 New American Funding Wins Two Stevie Awards for Women in Business
2020 New American Funding Launches Innovative Mentorship Program
2020 New American Funding Named A Best Workplace for Women by FORTUNE and Great Place to Work®
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.
Additionally, please review the following videos, which provided more information about Arvielo and her company: