New American Funding - Executive of the Year
Company: New American Funding, Tustin, CA
Company Description: New American Funding is a mortgage banker, licensed in 48 states across the nation, that funds over $1 billion in home loans every month and maintains a servicing profile of over $17 billion. Our company offers a full spectrum of loan products and we have won numerous awards for our industry leadership and efforts in diversity and inclusion in the workplace.
Nomination Category: Management Categories
Nomination Sub Category: Executive of the Year - Financial Services
Nomination Title: Rick Arvielo
Tell the story about what this nominated executive has achieved since January 1, 2016 (up to 650 words). Describe the impact he or she has had on your organization. Focus on specific accomplishments, and relate these accomplishments to past performance or industry norms.
Rick Arvielo, CEO and Co-Founder of New American Funding, is the driving force behind the company, orchestrating its overall growth. Under his leadership in 2016, New American Funding’s servicing portfolio increased to $17 billion in home loans, up from $9 billion in 2015. The mortgage lender funds over $1 billion monthly in loans, an increase from $900 million per month last year. By October 2016, Arvielo had led the company into record-breaking profitability, as the mortgage banker had generated $9.75 billion in total loan volume, which surpassed the total volume for 2015.
Due to immense growth, New American Funding received a host of high-profile accolades in 2016 including a silver Stevie® for Fastest Growing Company and a gold Best in Biz Award for Fastest Growing Company. Also, for the 4th year, Inc. 5000 ranked New American Funding a Fastest Growing Company in America.
Arvielo has strategically guided New American Funding to be a trailblazer in the mortgage industry. He has kept the company ahead of the curve by conceptualizing cutting-edge technology including a suite of exclusive mobile apps. In 2016, he spearheaded the development GoGo LO 2.0, an app that gives Loan Originators on-demand access to their office resources. Enhanced with key features, version 2.0 will enable originators to use their mobile device to instantly check an applicant’s credit and update terms of a borrower’s pre-qualification letter. Also in 2016, with Arvielo’s guidance, the company finished the beta-testing phase of two new apps, GoGo Partner, which is for Real Estate Agents who are partners with the company, and GoGo Home, which is geared toward housing consumers. All three versions are expected to fully launch in 2017.
Due to his industry insight, the National Association of Hispanic Real Estate Professionals invited him to be on the technology and innovations panel at the 2016 Elevate Mortgage Summit. Ernst & Young also noticed Arvielo’s innovative business approach and named him the 2016 Entrepreneur of the Year for Orange County and inducted him into its Entrepreneur Hall of Fame. Additionally, Arvielo won a silver Stevie® for Executive of the Year while New American Funding was awarded a silver Stevie® for Company of the Year.
As a result of implementing industry-leading business measures, Arvielo successfully expanded New American Funding’s national retail branches to 128, adding 36 new locations in 2016. The company’s progressive direction led over 1200 people to join the team in 2016, increasing the overall manpower to more than 2300 members.
In the midst of growing the company’s bottom line, Arvielo believes in maintaining a personal connection with employees. In 2016, he created opportunities for “Lunch with the CEO” with standout team members. Arvielo also continued co-hosting Rick and Patty’s 360 Live, a quarterly broadcast formatted to provide company updates in a conversational manner, with a goal of cultivating the company’s family-style atmosphere.
By promoting a dynamic work environment, Fortune and Great Place to Work® named New American Funding one of the Best Places to Work in the nation. Also, the company won a gold Stevie® for Employer of the Year, and a silver Best in Biz Award for Best Place to Work.
Arvielo’s influence extends into the national housing arena as well by serving on the Board of Directors and the Residential Board of Governors for the Mortgage Bankers Association (MBA). Due to his active role over 5 years, he was named in 2016 to be Chairman over MBA political action committee, MORPAC, beginning in 2017. Arvielo also serves on MBA’s Mortgage Action Alliance (MAA) Steering Committee. In October, he encouraged his company to get involved and 366 employees enrolled the same day, representing the biggest sign-up day for any company in MAA history. Through his involvement with these organizations, Arvielo lobbies in Washington, DC, to strengthen both the mortgage industry and homeowners alike. His goal is to bring his company’s principles of integrity, respect, and teamwork to the national housing agenda.
In bullet-list form, briefly summarize up to ten (10) of the chief accomplishments of this nominated executive since the beginning of 2016.
• Named by Ernst & Young EY Entrepreneur of the Year for Financial Services in Orange County and inducted into EY Entrepreneur of the Year Hall of Fame
• Extended company’s servicing portfolio to $17 billion
• Added more than 1200 employees, increasing workforce to over 2300; added 36 new retail locations, increasing branch total to 128
• Winner of 2016 silver Stevie® American Business Award for Executive of the Year in Financial Services
• Named to Mortgage Professional America’s Hot 100 List
• Serves on Board of Directors and Residential Board of Governors for the MBA and helped generate single, largest employee enrollment day with 366 sign-ups
• 2016 Elevate Mortgage Summit panelist
• Led company to #1 Top Workplace in Orange County by OC Register
• Drove company to Inc. 5000’s List of Fastest-Growing Companies in America for 4th year
• Led company to Top 20 Mortgage Lender ranking in the nation in four categories by Scotsman Guide