"We were young and we just thought, we can do this... the New American Dreams."
Patty is an award-winning entrepreneur and Co-Founder and CEO of New American Funding. A first-generation Hispanic, her path to mortgage industry began at age 16 with a hard-work ethic and an entry-level position at TransUnion Credit. From there, she landed a job at a prominent mortgage company, where she would rise through the ranks and learn the business from the ground up, eventually becoming branch manager and assistant vice president.
In 2003, Patty and her husband, Rick Arvielo, launched their own mortgage company, New American Funding. In the years since, Patty has helped transform the company into one of the largest independent mortgage lenders in the United States today with a servicing portfolio of over 245,000 loans for $64.7 billion. She also oversaw the creation and expansion of the company’s retail lending operation, which grew a small local operation to a national powerhouse with more than 170 locations and thousands of employees across the country.
Today, Patty oversees nearly 3,500 employees, 54% of whom are women and 41% who are minorities.
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 eight times. The company has also been recognized as one of the best workplaces in the nation for millennials by FORTUNE and Great Place to Work®.
In her role as CEO, Patty manages all sales and operations, while continuing to originate loans. In addition to her "If You Want to Grow, We Want to Know" and "Thrive and Lead" mentorship programs, Patty leads the company’s Latino Focus and New American Dream initiatives to improve the home lending experiences for Hispanic and Black homebuyers.
Patty's leadership and voice extends to numerous committees within the industry, including on the Mortgage Bankers Association (MBA) Residential Board of Governors. She also formerly served on the MBA Affordable Homeownership Advisory Council and formerly served 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.
With a timely and on-trend message, she is a popular keynote speaker for mortgage events across the nation. She also frequently visits Washington, D.C to lobby on behalf of the mortgage industry and homeowners. Ernst & Young recognized Patty as 2016 EY Entrepreneur of The Year® Orange County.