Episode 8 | Online with Richard Sandoval – Featuring Patty Arvielo
In this edition of Online with Richard Sandoval we talk with the president of New American Funding, Patty Arvielo about family, business, and insights on the mortgage industry. Patty was named a Latina of Influence by Hispanic Lifestyle in 2016. New American Funding was named a Survived and Thrived business by Hispanic Lifestyle in 2016.
About Patty Arvielo
It’s important to give mention to Patty Arvielo’s humble beginnings in order to fully understand her unique business perspective and leadership role in the housing industry. Born into a hard-working Mexican-American family from South Gate in L.A. County, California, Patty’s first exposure to the mortgage industry was as a young girl. At just 16, Patty landed a clerical position for TransUnion Credit. At 19, she was promoted into a sales position. Patty worked tirelessly to build Real Estate Agent and community relationships and doing so, ignited a life-long passion for service and pursuit of self-made, enduring success.
In the years following, Patty assumed a natural, often unofficial, role as orchestrator and champion for her sales teams and colleagues. She challenges her teams to take on new projects with confidence and determination. She gets to know the people she works with, genuinely befriending even competitors unable to resist her approachable demeanor and infectious love for helping others.
Patty’s extensive background in mortgage lending includes DE Underwriter and VA LAPP Certifications. Very early on, Patty pursued her own underserved Spanish-speaking markets well before they were a popular and sought-after demographic. In 1997 Patty was invited to lead the operations unit of an independent broker shop, and in 2003 she and her husband Rick Arvielo decided to launch their own mortgage company – New American Funding.
Over a decade later, Patty has worked to transform New American Funding into a national mortgage lender and servicer that maintains a servicing portfolio of over 110,000 loans for $27 billion. Under her guidance, the company has brought the entire loan process in house – origination, processing, underwriting, funding and servicing. She continues to actively contribute to the bottom line, originating and booking millions in home loans each month on her own, all while managing operations and sales for New American Funding’s headquarters, approximately 185 branches and about 2,900 employees.
Patty’s community involvement includes serving on the Executive Board of Big Brothers Big Sisters (BBBS) Orange County. Patty has also worked, through her board seat with BBBS, to bring a new mentorship program in house to her company. For New American Funding employees, she created the program “If You Want to Grow We Want to Know” to help employees grow professionally. Her commitment to helping women employees in particular has fueled New American Funding’s success. As a result, the company workforce is comprised of 57% women, with many holding C-suite positions.
Patty is deeply involved in the National Association of Hispanic Real Estate Professionals (NAHREP), whose mission is to increase the rate of sustainable Hispanic homeownership by empowering the real estate professionals that serve the community. She serves as a member of NAHREP’s Corporate Board of Governors and has inspired ten of her New American Funding management level employees to obtain local chapter and board positions with the same group in their areas. In spring of 2013, Patty spearheaded the Latino Focus Committee within her organization, whose mission is to identify, and address challenges Hispanic consumers face in their pursuit of homeownership and to enhance the quality of their lending experience. Recognizing the need for home buying education and access to loan programs, she recently created the New American Dream initiative to increase homeownership in African-American communities.
Patty serves on the Diversity and Inclusion Committee and is a member of mPower for the Mortgage Bankers Association. She is politically involved in the current and future states of mortgage banking, and frequently visits Washington, D.C. to lobby on behalf of the industry and homeowners. She is a former member of the Fannie Mae Affordable Housing Advisory Council and both Freddie Mac’s Community Lender Advisory Board and Affordable Housing Council. She also serves on the National Park Foundation Board of Directors, where she is serving a six-year term as a new board member, and on the Orange County School of the Arts Foundation Board.
Patty is the recipient of numerous professional accolades and was recognized in 2016 by Ernst and Young as an EY Entrepreneur of The Year ® for Orange County. She also won the 2018 Silver Stevie® Award for Woman of the Year, the 2016 Latinos de Hoy Business Award, and NBC Latino did a feature profile highlighting her life. Patty continues to lead by example, shaping both New American Funding and the housing industry overall.
Information provided by New American Funding.
