Patty Arvielo started her career in the financial industry at 16 years old with a hard work ethic, boundless curiosity, and a thirst to succeed. Thirty-nine years later, she is the president of New American Funding, a top mortgage lender with over 200 branches across the nation.
Starting out, Patty worked her way through many jobs within the mortgage industry. She quickly rose through the ranks from a clerical loan opener to underwriter, processor, and eventually to branch manager and assistant vice president. Later, Patty led the operations unit of an independent broker shop, where she pursued the Spanish-speaking markets before they were a popular and sought-after demographic.
In 2003, she and her husband Rick Arvielo, launched their own independent mortgage company, New American Funding. In the years since, Patty has helped transform the company into one of the largest independent mortgage lenders in the U.S. today with a focus on delivering clients and partners a positive, efficient lending experience and a variety of loan options at competitive rates.
In her current role, Patty oversees the company’s sales and operations units. Through her participation in a variety of industry boards and committees, she helps shape lending policy initiatives and rallies for the upward mobility of women and minorities in the workplace.
Patty has built an inclusive corporate environment, where women are empowered and excel on merit. For its efforts, the business has been recognized by Great Place to Work as a Best Workplace for Women.
Born in Los Angeles County, Patty has found her home in Orange County. Under Patty’s leadership, the company has hosted numerous food, toy, and clothing drives to support those in need. Globally, Patty is personally active with the WE Charity, which focuses on education, water, health, food and economic opportunity in Asia, Africa, and Latin America, including building much-needed classrooms, providing teacher training and a highly successful immunization program.
Patty is a respected decision maker within the financial industry, serving on the U.S. Department of Housing and Urban Development’s (HUD) Housing Counseling Federal Advisory Committee and the National Association of Hispanic Real Estate Professionals Corporate Board of Governors. She also serves on the Latino Donor Collaborative Board and the Mortgage Bankers Association Affordable Homeownership Advisory Council (MBA). She formerly served on the Fannie Mae Affordable Housing Advisory Council and both Freddie Mac’s Community Lender Advisory Board and Affordable Housing Council.
Outside of the office, Patty is a member of the Executive Board of Big Brothers Big Sisters (BBBS) Orange County and the National Park Foundation™ Board of Directors. She’s also a former member of the Orange County School of the Arts Foundation Board.
In 2017, Patty launched her quarterly mentorship program, “Thrive and Lead,” which includes New American Funding employees, as well as external mortgage professionals who are mentored for 3 months. The mentorship program is one reason the company continues to attract diverse talent, while fostering an inclusive environment.
Patty also started an initiative called, “If You Want to Grow, We Want to Know.” This program encourages 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 diversity among employees, but to wholeheartedly 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 has guided New American Funding to pursue the top mortgage talent, which has resulted in a diverse cross-section of employees, including many women, minorities, and 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 Black 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.”