Patty Arvielo started her career from scratch, reaching out of her immediate circle and comfort zone to break into a business when she had no previous experience. Thirty-five years later, she is a nationally recognized business woman; leading a mortgage bank with about 3,200 employees and approximately 200 branches across the nation. She’s functioned in a variety of capacities, from underwriting to processing, to her current role as Co-Founder and President of New American Funding. She is influencing the real estate finance industry in terms of lending policy initiatives and she rallies for the upward mobility of women in the workplace overall.
Patty was born in Los Angeles County and found her home in Orange County, where she currently works and resides. She balances her life between being a wife, mother, running a successful business, and giving back to the community. Patty has become a champion for underserved markets in the housing industry and a role model for women in business. She creates an inclusive corporate environment, where women excel on merit. As a result, the company has been recognized by Hispanic Lifestyle and Mortgage Women Magazine as being an outstanding workplace for women. Her natural leadership and commitment to helping women has fueled New American Funding’s success.
Patty was recently selected to serve a 3-year term on the US Department of Housing and Urban Development’s (HUD) Housing Counseling Federal Advisory Committee and serves on the National Park Foundation Board of Directors, where she is serving a six-year term as a new board member. She sits as a Director on the Latino Donor Collaborative and serves on the National Association of Hispanic Real Estate Professionals Corporate Board of Governors. 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 also serves on the Executive Board of Big Brothers Big Sisters (BBBS) Orange County.
Patty is involved with her quarterly mentorship program for women employees called Thrive and Lead, which launched in October 2017. The program includes New American Funding employees and external mortgage professionals who are mentored for 3 months. The mentorship program is one reason the company continues to attract diverse talent and an inclusive environment.
Patty started an initiative called “If You Want to Grow, We Want to Know.” This program allows New American Funding employees to share their goals with Patty and how they want to grow and advance within the company. Whether they want to try something new or imagine themselves in a higher position, Patty wants to hear about it.
Patty recognizes the importance of diversity and inclusion. New American Funding is committed to fostering, cultivating and preserving a culture that respects and appreciates differences among employees, whether those differences are in ethnicity, gender, race, national origin, disability, sexual orientation, education, or religion. Patty not only makes a serious effort to increase our diversity among employees, but to whole heartedly celebrate these differences and to ensure diverse voices that contribute to ongoing innovations.
“We can fill a boardroom with a mosaic of diversity, but unless we have inclusion, that mosaic will be good for appearance only,” Patty said. “We need inclusion to harness the value of our dimensions –actual involvement. That begins with our leaders creating environments that embrace the unique perspectives and practices of management, employees, and consumers.” As a true practitioner in diversity and inclusion, Patty’s company, New American Funding, features a workforce comprised of 59% women with many holding C-level positions, 41% minorities, and 35% Millennials.
In 2013, Patty created the Latino Focus Committee, an in-house group that addresses challenges facing Hispanic consumers who are pursuing homeownership. Through consumer grassroots events and strategic partnerships with reputable organizations and media outlets such as the LA Times, El Aviso Magazine, California Hispanic Chambers of Commerce, Hispanic Lifestyles and more, Latino Focus has educated over 5,000 industry professionals with strategic collaborations such as Freddie Mac. In 2016, Patty established the New American Dream, another diversity program geared toward increasing homeownership in African-American communities. Through this program, the New American Dream empowers individuals and families to help them see homeownership as an achievable goal.
Due to Patty’s passion for underserved markets, her commitment to serving the mortgage industry, and her successful track record with low-to-moderate income (LMI) markets, she’s become a recognized and sought-out authority by government-sponsored entities seeking insight on policy and program development. Through her role on the Corporate Board of Governors for the National Association of Hispanic Real Estate Professionals (NAHREP), she collaborated with the organization’s CEO. In addition, New American Funding has pledged to increase Hispanic sustainable homeownership and triple Hispanic household wealth by lending $25 Billion in new mortgages to Hispanic borrowers. She has also pledged to provide direct mentorship to 500 Hispanic-owned small businesses and transition 1,000 Hispanic individuals from students to entry-level mortgage professionals by 2024.
Patty uses her continued success at New American Funding as a platform to help other mortgage industry professionals, women in business, and the communities she serves. For women to make greater advancements in the financial industry, Patty has a message of unity.
“Women can’t hold themselves back from accomplishing more,” Patty said. “Instead, we must build bridges with one another, rather than oppose each other. When one woman reaches out to help another woman, every woman wins. It’s when women work together that we have the greatest impact.”