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Patty Arvielo has been a leader in the mortgage industry for more than 40 years. She is a results-driven entrepreneur who co-founded and leads the U.S.A.’s largest Latina-owned mortgage lender, New American Funding.
A first-generation Hispanic American, Arvielo is driven to create homeownership opportunities for minority communities, leading New American Funding to become a leader in lending to minority borrowers. In fact, New American Funding is a top mortgage lender to Hispanic and Black borrowers.
New American Funding is the #1 lender to Hispanics, with a higher percentage of loans to Hispanics than any other top-25 lender. New American Funding’s percentage of purchase lending to Hispanics is 51% more than the industry percentage, and its purchase lending to Black borrowers is 85% more than the industry percentage, based on HMDA data. Patty has also created a company workforce that mirrors the country, with minorities making up 45% of the company’s employees, 23% of whom are Hispanic.
She is a 13-time Stevie Award winner, was inducted into the EY Entrepreneur of the Year Hall of Fame, named one of Most Powerful Women in Mortgage by Mortgage Banker Magazine, recognized as one of the 100 Most Influential Latinas by Latino Leaders Magazine, and named Latina Style’s Latina Executive of the Year and Corporate Leader in 2020.
Patty’s philanthropic efforts include serving on the National Park Foundation Board of Directors, serving a three-year term on the Harvard Kennedy School Board, and serving on the Board of Directors for Century Communities.
She is also a member of the Mortgage Bankers Association Residential Board of Governors, the Latino Donor Collaborative Board, Board of Directors of Big Brothers Big Sisters of Orange County, and the Mortgage Bankers Association Affordable Homeownership Advisory Council. She also serves as a member of the Housing Counseling Federal Advisory Committee, a group that advises the Department of Housing and Urban Development on ways to build sustainable homeownership.
Patty also recently deepened her commitment to support the next generation by acquiring a 50% majority stake in #WeAllGrow Latina, one of the largest Latina social media platforms, and investing in Encantos, an award-winning educational technology company that focuses on bilingual education.
Arvielo is a leader who creates change in her company, throughout the mortgage business, and across her many projects. She empowers women and minorities through her leadership and mentorship, including her own program called “Thrive and Lead.”
Arvielo co-founded New American Funding in 2003 with her husband, Rick. The company has since grown it into one of the biggest mortgage lenders in the U.S. The company also handles the entire loan process in-house. In her role as President, Arvielo leads the company’s sales and operations efforts.
In the years since its founding, Arvielo has transformed New American Funding into one of the largest independent mortgage bankers in the US today with 167 locations and a servicing portfolio of more than 221,000 loans for approximately $58.1 billion.
As the single largest Latina-owned private mortgage company in the nation, New American Funding has made Inc. 5000’s list of Fastest Growing Companies in America seven times. In the last two years, Arvielo has led New American Funding through a period of substantial growth in which the company more than doubled its lending volume from 2019 to 2020. In 2019, the company originated $14.2 billion in mortgages. The company obliterated that figure in 2020, by more than doubling its lending volume and 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.
And 2021 was even better. In 2021, the company set another record for both the number of originations and lending volume. In total, 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.
