Industry veteran Patty Arvielo, co-founder and president of New American Funding, has received the 2021 Women Worth Watching Award from Profiles in Diversity Journal for the 5th time.
A first-generation Hispanic American, Arvielo, along with her husband Rick, built New American Funding into a top independent mortgage lender. Today, the company has a servicing portfolio of 208,000+ loans for approximately $54.2 billion and a nationwide workforce of about 4,600 employees and 176 locations.
Under Patty’s leadership, the company has taken historic steps to create opportunities for women and minorities, including in the C-suite. Currently, 59% of New American Funding’s staff are women and 46% are minorities.
The company recruits from a wide talent pool and cultivates key opportunities through personalized mentorship programs from Patty herself.
Patty also champions her company’s Latino Focus and New American Dream initiatives, which seek to raise awareness and increase homeownership in the Hispanic and Black communities. Last year, 36% of the company’s home purchase originations went to minorities vs. the national average of 25.5%, (2020 HMDA data).