New American Funding - Company of the Year – Consumer Services

Company: New American Funding, Tustin, CA
Company Description: New American Funding (NMLS #6606) is a Fannie Mae, Freddie Mac and Ginnie Mae Direct Seller/Servicer, FHA Direct Endorsement, and VA Automatic mortgage lender that is licensed in 48 states with 205+ branch locations nationwide and 3,600+ employees that offer a variety of home loan options including Conventional, FHA, Cash-Out, Fixed-Rate and Adjustable- Rate Mortgages, VA, Jumbo, and Reverse
Nomination Category: Company/Organization Awards Categories
Nomination Sub Category: Company of the Year – Consumer Services – More Than 10 Employees

Nomination Title: New American Funding

New American Funding is the largest woman-owned and Latina-owned mortgage company in the country.

Co-founded in 2003 by the husband-and-wife team of Rick and Patty Arvielo, the company has grown to become a mortgage powerhouse with 179 locations across the U.S. with approximately 4,800 employees.

Patty Arvielo, who oversees the company’s sales and operations divisions, spearheaded the company’s mortgage business more than doubling volume in 2020, a trend that is continuing in 2021.

The pandemic brought out the best in Patty’s leadership skills. While other mortgage companies struggled to pivot quickly, she implemented a strategic plan to ensure the safe and quick transition of approximately 3,300 employees to work remotely by early March 2020.

This effort facilitated an increase in loan production by nearly 80% in the months immediately after going remote. In fact, New American Funding more than doubled its record lending volume of $14.2 billion in originated mortgages from 2019 by originating $30.5 billion in mortgages in 2020.

To accommodate the surge in loans, the company significantly expanded its workforce in 2020 by adding 2,776 new employees with many opportunities for women, as well as minorities, and Millennials who comprise 61%, 45%, and 38% of the company’s workforce.

During the past two years, New American Funding’s achievements have made a significant difference in the lives of its customers, employees, and business partners. Not only has the company hired with diversity top of mind, but it has also elevated the lives of women, minorities and Millennials through career opportunities and personal advancement, while making homeownership a satisfying reality for many.

Highlights include:

In 2019, the company originated $14.2 billion in mortgages, and in 2020, more than doubled its lending volume and originated $30.5 billion in mortgages—a 114.8% increase
Awarded the prestigious 2019 Better Business Bureau International Torch Award for Ethics In addition to numerous industry accolades
Grew a workforce of 2,964 nationwide employees in 2019 to 4,800 employees by July 2021—a 61.94% increase in growth (60% female, 45% minorities, and 38% Millennials)
Enhanced engagement with employees through internal programs like “Listening Circle”, a forum to promote discussion/awareness and understanding of homeownership for underserved communities and “Get Real with Patty Arvielo” focusing on inspiring women in their careers/ lives
Continued outreach to Hispanic and Black communities through Latino Focus and New American Dream initiatives, which seek to make homeownership a reality to these underserved groups
36% of New American Funding’s home purchase loans in 2020 were to minority borrowers compared to 25.5% for all institutions based on 2020 HDMA data
Captured 66,000 online reviews as of July 3, 2019. By June 2021, 174,000+ online reviews were recorded for a total 4.9-star rating; a 163.63% increase within that time

Under Patty Arvielo, New American Funding has achieved much. Since July 1, 2019, the company has been on an unprecedented roll, which began to culminate with winning the Better Business Bureau’s 2019 International Torch Award for Ethics—the first-ever independent mortgage lender to receive the honor.

Arvielo also founded the company’s Latino Focus (est. 2013) and New American Dream (est. 2016) initiatives, which seek to raise awareness and increase minority homeownership among Hispanic and Black communities across the country through home buying education, accessibility to credit, and career opportunities.

Today, the lender is one of the largest privately held retail lenders to Hispanic and Black borrowers.

The company’s purchase lending to Black borrowers in 2020 was 85% more than the industry's average. In fact, 12.4% of New American Funding's home purchase loan volume was to Black borrowers compared to 6.7% for the industry. In addition, 18% of New American Funding's 2020 home purchase loan volume was to Hispanic borrowers, compared to 11.9% for the industry. Also, its percentage of purchase lending to Hispanics was 51% more than the industry's percentage (based on 2020 HMDA data).

The company’s diverse outreach also extends to its recruitment of Hispanics and Blacks with 23% and 9% respectively comprising their workforce.

Women continue to thrive throughout the company because Executives and middle management leaders are encouraged to listen to their perspective. Arvielo initiates a variety of mentorship programs tailored to nurture women’s advancement and further their growth and skills with a personalized pathway to success.

Reference any attachments of supporting materials

Included in New American Funding’s nomination is more information about the company’s mentorship, video series, company contests and team building events.

Links:
The company also received the following awards in the last two years (Note: this is not a complete list):

- - 2021 Profiles in Diversity Journal Women Worth Watching
  - 2021 Expertise.com - Best Mortgage Refinance Companies in Henderson
  - 2021 Stevie - American Business Awards Marketing Department of the Year
  - 2021 Stevie - American Business Awards Marketer of the Year
  - 2021 Stevie - American Business Awards Fastest Growing Company of the Year
  - 2021 Stevie - American Business Awards Woman of the Year
  - 2021 Stevie - American Business Awards Company of the Year
  - 2021 Great Place to Work/ Fortune Best Workplaces in Financial Services & Insurance
  - 2021 The Atlanta Journal Constitution Top Workplaces
  - 2021 Great Place to Work/ Fortune Best Workplaces in Texas
  - 2021 Fannie Mae Star Performer
  - 2020 Best Mortgage Company to Work For by National Mortgage New
  - 2020 Great Place to Work and Fortune Name New American Funding GPTW Certified
  - 2020 Top Workplace in Atlanta Georgia
  - 2020 St. Louis Post- Dispatch 2020 Top Workplaces
  - 2020 Profiles in Diversity Journal Latino Leaders Worth Watching
  - 2020 LA Times - Best Of TimesOC 2020 Best Mortgage/Home Loan Lender
  - 2020 NMP - National Mortgage Professional Magazine Top Mortgage Employers
  - 2020 OC Register Top OC Workplaces
  - 2020 Mortgage Professional America Top Workplaces
  - 2020 Mortgage Professional America Mortgage Global 100
  - 2020 Austin American Statesman Top Workplaces
  - 2020 OCBJ - Orange County Business Journal Family-Owned Business
  - 2020 Stevie - Women in Business Fastest Growing Company of the Year
  - 2020 Stevie - Women in Business Company of the Year – Consumer Services
  - 2020 Stevie - Women in Business Maverick of the Year
  - 2020 Stevie - Women in Business Female Entrepreneur of the Year – Consumer Services
  - 2020 ALPFA - Association of Latino Professionals for America
  - 2020 Great Place to Work/ Fortune Best Workplaces for Women
  - 2020 Stevie - Great Employers Awards Most Valuable Employer
  - 2020 Stevie - Great Employers Awards Most Innovative Work from Home Plan
  - 2020 Stevie - Great Employers Awards Employer of the Year - Financial Services
  - 2020 Great Place to Work/ Fortune Best Workplaces for Millennials
  - 2020 OCBJ - Orange County Business Journal - Private Companies
  - 2020 Stevie - American Business Awards Woman of the Year - Consumer Services
  - 2020 Stevie - American Business Awards Maverick of the Year - Consumer Services
  - 2020 Stevie - American Business Awards Achievement in Management - Financial Services
  - 2020 Stevie - American Business Awards Achievement in Management - Financial Services

2020 Profiles in Diversity Journal Women Worth Watching

- - 2020 Great Place to Work/ Fortune Best Workplaces in Financial Services & Insurance
  - 2020 Great Place to Work/ Fortune Best Workplaces in Texas
  - 2019 Scotsman Guide Top Veteran Originators
  - 2019 OC Register Top OC Workplaces
  - 2019 BBB International Torch Awards for Ethics
  - 2019 OCBJ - Orange County Business Journal Family Owned Business

The company has been repeatedly honored for its performance and culture, including the following:

Also, please review the following video, which provides evidence of how the company maintained its award-winning culture in 2020 when nearly all of the company’s employees shifted to working from home: New American Funding 2020 – Living Through History

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New American Funding - Company of the Year – Consumer Services

Nomination Title: New American Funding