President and Co-Founder of New American Funding, Patty Arvielo, is in the studio to kick off the New Year with the first Atlanta Real Estate Forum Radio episode of the 2021. Joined by co-hosts Carol Morgan and Todd Schnick, the group discusses how New American Funding was founded, what it’s like to be a woman leader in a male-dominated industry, how the company thrived in 2020, what is to come in 2021 and more on this All About Real Estate segment of Radio.
At the very young age of 16, Patty Arvielo was looking for a job and found a place in mortgage credit reporting. At the time, Arvielo had limited knowledge of the mortgage and loan industry, but she continued to learn and move up the loan processing ladder. Later in 2021, Arvielo will be able to celebrate her 40th year in the industry.
After some time working at one of the largest mortgage companies in the country, Arvielo and her husband decided to create a mortgage banking company. During its creation, Arvielo and co-founder chose to stick to only good, FHA loans. This helped them later on after the mortgage crisis, allowing New American Funding to breakthrough and succeed in the mortgage business. Today, the company employs over 5,000 employees across the country.
“Sometimes it’s a little bit of luck, a lot of common sense and a little bit of risk-taking, but not so much that I risk our company by doing loans that don’t make sense,” said Arvielo.
In addition to being an entrepreneur and president of a company, Arvielo is also a woman leader in a male-dominated industry. This allowed her to take a look at the industry from a female perspective and work to increase the representation across the trade as a whole. Arvielo works within her own company to address representation issues, supporting several minorities and women. Today, New American Funding is 60% women-employed and 43% minority-employed.
“We have a woman owner and a male owner and we have women that feel empowered,” said Arvielo. “I hope that I am teaching every single day that this young generation can look like me, because there isn’t a school of mortgage banking. I take that role very seriously and I know that when I leave this industry it is going to be a lot more diverse.”
In addition to employing women and minorities, Arvielo also runs a mentorship program for women in the industry. During the program, women are able to join for a phone call every week for a month. During the calls, Arvielo mentors participants through multiple facets of the industry. These women are also able to stay in contact with Arvielo for future calls, advice sessions and mentorship.
Due to the COVID-19 (coronavirus) pandemic, several businesses struggled to stay afloat in 2020. New American Funding was not only able to survive the year of change and hardship, but also thrive. This means the company was able to continue to provide homeownership to its many clients, as well as support its incredible leadership team of employees. The team at New American Funding heard the news about a potential pandemic in early 2020 and immediately began purchasing laptops and other equipment for its employees to work online. Within 48 hours, the company was completely virtual. This allowed everyone to remain safe, healthy and in a good position to help clients become homeowners.
To learn more about Patty Arvielo and what New American Funding has planned in 2021, listen to the full interview above. You can also visit www.branch.newamericanfunding.com/Atlanta for more information.
Georgia Residential Mortgage Licensee, License #22564. NMLS ID #6606. Subject to borrower and property qualifications. Not all applicants will qualify. Click here to view the terms and conditions of products mentioned during the show. Corporate office 14511 Myford Rd., Suite 100, Tustin, CA 92780. Phone: (800) 450-2010. (January/2021)
New American Funding is a family-owned mortgage lender with a servicing portfolio of over 123,000 loans for $30.4 billion, 198 branches, and about 3,100 employees. The company offers several niche loan products and has made Inc. 5000’s list of Fastest-Growing Companies in America six times. It has a state-of-the-art career training facility and develops innovative technology, including the GoGo LO mobile application. For more information, visit www.branch.newamericanfunding.com/Atlanta.
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