Patty Arvielo specializes in multicultural lending and has made notable progress developing services to enhance the quality of the lending experience for underserved borrowers.
As President of New American Funding she carries out the company’s mission to provide homeowners and future homeowners a variety of affordable home financing options. She has become a driving force behind initiatives supporting diversity and inclusion in mortgage banking. She continues to originate and book home loans each month on her own, all while managing operations and sales for New American Funding’s headquarters, branches, and about 2700 employees. She sits on numerous committees and pursues her passion of helping Latino Americans achieve homeownership.
Arvielo has worked diligently to create a diverse workforce: women make up 58% of all employees with many holding C-level positions, 43% of all employees are minorities, and 34% are Millennials. Last year, Arvielo created a quarterly mentorship program called “Thrive and Lead.” The program includes New American Funding employees and external mortgage professionals who are mentored for 3 months. When the program launched in October, 79 participants applied and in December, 132 applied, bringing the total to 211. She is also currently a member of the NAHREP Corporate Board of Governors and formerly a chairman of the board. In May of 2017, New American Funding pledged to increase Hispanic sustainable homeownership and triple Hispanic household wealth by lending $25 Billion in new mortgages to Hispanic borrowers.
For reprint and licensing requests for this article, CLICK HERE.
Stories You May Also Be Interested In
- Los Angeles Business Journal Women's Summit: FINALISTS - PATTY ARVIELO, New American Funding
- IndyMac Veterans Make Credit Push
- Foreclosure for 1 in 5 Subprime Loans
- Countrywide Agrees to Historic ‘Fair Lending’ Settlement
- Asians Still Haven't Broken Down the Housing Barriers
- Sugarman Forms Lender Focused on the Underserved
- California, Illinois Sue Countrywide, BofA Deal Okd
- Mass Appeal