New American Funding
Headquarters: Tustin, CA
Business: Financial Services
Through New American Funding’s Diversity and Inclusion initiative, the company embraces and values differences, and recognizes that they make people stronger. New American Funding not only makes a serious effort to increase diversity among employees, but also to celebrate differences and make sure diverse voices contribute to ongoing innovations. Women make up 57 percent of New American Funding employees, with many holding C-level positions; 43 percent are minorities and 35 percent are millennials.
In 2018, New American Funding partnered with the National Association of Hispanic Real Estate Professionals to reach 13,000 industry peers across the nation. Through an NAF Leaders social media campaign and an increase in Spanish language homeownership education videos, New American Funding’s video garnered more than 250 thousand video views. The company has committed to increasing Hispanic homeownership by lending $25 billion in new mortgages to Hispanic borrowers by 2024.
In 2019, the company hopes to increase new diverse mortgage talent through its Specialized Training Empowering People (STEP) program, a corporate training curriculum designed to prepare people for a career in mortgage banking. STEP is a nationwide program that was developed by New American Funding to equip people for working in every aspect of the industry.
Patty Arvielo, New American Funding president, explains, “We can fill a boardroom with a mosaic of diversity, but unless we have inclusion, that mosaic will be good for appearance only.” She launched a program called NAFOVATOR that encourages employees to submit their ideas online or email them directly to Patty or to her husband and company CEO Rick Arvielo.
“In an industry where women are in the minority, Patty has become a role model by letting her voice be heard and taking the lead,” says Rick Arvielo. “She mentors other women in business, and her natural leadership and commitment to helping women has fueled New American Funding’s success and contributed to her role as an iconic mortgage leader. She has been a forefront leader in diversifying the mortgage industry and a key player in implementing changes to establish a 21st century workforce that’s just as diverse as the communities it serves. At New American Funding, she has created an environment where minorities, millennials, and women have the opportunity to excel on merit.”