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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 $900 million in home loans every month and maintains a servicing profile of over $23 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: Company / Organization Categories
Nomination Sub Category: Fastest Growing Company of the Year - 2,500 or More Employees
 Nomination Title: New American Funding
- Which will you submit for your nomination in this category, a video of up to five (5) minutes in length about the achievements of the nominated organization since January 1 2020, OR written answers to the questions for this category? (Choose one):
Written answers to the questions
- If you are submitting a video of up to five (5) minutes in length, provide the URL of the nominated video here, OR attach it to your entry via the "Add Attachments, Videos, or Links to This Entry" link above, through which you may also upload a copy of your video.
- If you are providing written answers for your submission, you must provide an answer to this first question: Briefly describe the nominated organization: its history and past performance (up to 200 words):
Total 183 words used.
New American Funding is the largest Latina-owned mortgage company in the U.S. The lender, which was founded in 2003 by Patty and Rick Arvielo, has grown from modest beginnings to become one of nation’s top 20 mortgage companies. Today, the company employees more than 4,500 people spread across 168 locations nationwide.
Different from other large mortgage companies, New American Funding believes in supporting its customers throughout their homeownership journey. That’s why the company is a full-service mortgage company, handling the entire loan process in-house from origination all the way to servicing and beyond.
This allows the company to build customers for life, including those who come back to the company repeatedly when they are ready to buy their next home or refinance their mortgage.
New American Funding also sets itself apart through its focus on technology. New American Funding believes in developing and implementing cutting-edge technology, then combining it with industry-leading customer service to create the ultimate mortgage experience for its customers. It’s a philosophy that has made New American Funding one of the nation’s largest and most respected mortgage lenders
- If you are providing written answers for your submission, you must provide an answer to this second question: Outline the organization's achievements since the beginning of 2020 that you wish to bring to the judges' attention (up to 250 words):
Total 249 words used.
To put it simply, 2020 and 2021 were the best years in New American Funding’s history.
The company had its the best year ever in 2020, exceeding its previous high by a significant margin. In 2020, New American Funding more than doubled its previous high in lending volume, originating $30.5 billion in mortgages. In total, New American Funding helped more than 104,000 individuals and families buy a home or refinance their existing mortgage in 2020.
And 2021 was even better. In 2021, the company set another record for both the number of originations and lending volume. All in all, New American Funding originated approximately $31.8 billion in mortgages in 2021, helping more than 105,000 individuals and families buy a home or refinance their mortgage.
The company also saw substantial growth in its mortgage servicing portfolio. As 2020 began, the company’s servicing portfolio included approximately 124,000 loans totaling $31 billion. By the beginning of 2022, the company had grown its servicing portfolio to approximately 219,000 loans totaling $57 billion, an increase of more than 76% by loan count and an increase of nearly 83% in total loan value.
But New American Funding is about more than numbers. The company cares deeply about its customers, which is why throughout the pandemic, New American Funding has worked to grant mortgage forbearance to those who needed it. These actions allowed countless families to stay in their homes at a time when home has never been more important.
- If you are providing written answers for your submission, you must provide an answer to this third question: Explain why the achievements you have highlighted are unique or significant. If possible compare the achievements to the performance of other players in your industry and/or to the organization's past performance (up to 250 words):
Total 243 words used.
The company’s community-like culture sets it apart and has earned the company many national awards, including being recognized multiple times as one of the best workplaces in the nation by FORTUNE and Great Place to Work®. In recent years, the company was named a Best Workplace in Financial Services and Insurance, Best Workplace for Women, and Best Workplace for Millennials
The company was also recently named to the Inc. 5000 for the seventh time. In the 2021 edition, New American Funding ranked #2145 out of 5,000 companies, which are ranked by a percentage of revenue growth over a three-year period.
The company also works hard to build supportive and inclusive environment. As of March 1, 2022, women make up 58% of all employees; 45% of all employees are minorities (including 23% who are Hispanic), and 40% are Millennials.
The company’s commitment to diversity is driven by its mission of lending to lending to minority communities. The company believes in mirroring the communities it serves, leading to its diverse workforce. These efforts lead to results. Through its Latino Focus and New American Dream initiatives, the company routinely exceeds the rest of the mortgage industry with a higher percentage of its purchase loans going to minority borrowers than the industry average.
The company’s commitment to integrity culminated with New American Funding being awarded the prestigious International Torch Award for Ethics by the Better Business Bureau, the first-ever independent mortgage lender to receive the honor.
- You have the option to answer this final question: Reference any attachments of supporting materials throughout this nomination and how they provide evidence of the claims you have made in this nomination (up to 250 words):
Total 234 words used.
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